The Treasury Department on Friday released its “Green Book,” which contains details on the tax changes that the Biden administration is proposing to help fund the budget for the coming fiscal year.
The Federal Reserve today asked for comments on proposed changes to its payments system risk policy that would expand access to collateralized intraday credit from the Federal Reserve Banks.
During a more-than four-hour oversight hearing of the nation’s largest banks today, Rep. Trey Hollingsworth (R-Ind.) commended the 727,000 workers employed by the firms—as well as the 2 million employees working in the U.S. financial services industry—for their efforts during the pandemic.
Senator John Kennedy (R-La.) and Sen. Kevin Cramer (R-N.D.) today introduced a new bill, the No Red and Blue Banks Act, that would prohibit the General Services Administration from “awarding contracts to certain insured depository institutions that avoid doing business with certain companies that are engaged in lawful commerce based solely on social policy considerations.”
Ahead of the release of the president’s budget tomorrow, Treasury Secretary Janet Yellen told House appropriators that funding is needed for the Financial Crimes Enforcement Network to build its beneficial ownership database—something ABA has long advocated for.
The CEOs of the nation’s largest banks recapped their institutions’ efforts to support their customers and communities through the COVID-19 pandemic and its aftermath during a Senate Banking Committee oversight hearing.
An estimated 124.2 million households were considered “banked” in 2019, with at least one member having a checking or savings account, according to FDIC figures that were highlighted in a new report from the American Bankers Association today on access to the banking system.
The OCC today finalized a rule on prior notice periods for withdrawals from collective investment funds that are invested in real estate or assets not readily marketable.
President Biden late Thursday signed an executive order on climate-related financial risk that, among other things, directs financial regulators to take several steps to ensure the appropriate measurement and mitigation of these risks.
The Treasury Department today released a report further detailing its proposals to shrink the tax gap as part of the American Families Plan that was unveiled by President Biden last month.