Civil division official says the schemes “prey upon individuals and small businesses.“ The Department of Justice (DOJ) unsealed two cases this month filed against fraud networks that make…
Read MoreBanking
Federal Reserve Expects to Cut Rates in New Year
Central bank officials kept the current rate steady in the final meeting of 2023. The Federal Reserve concluded its final quarterly meeting this month, holding interest rates steady…
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Bank CEOs to Testify Before Senate Committee
The banking committee chair believes updated regulations are necessary. The CEOs of America’s largest banks are scheduled to testify before the Senate Banking Committee on Wednesday, prepared to…
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Senators Seek to Strengthen AI Federal Guidance
New bipartisan legislation would codify safety standards for federal agencies. Senator Mark Warner of Virginia and Senator Jerry Moran of Kansas introduced a bill this week that would…
Read MoreSenator Sends Letter to Federal Reserve Chair
Requests the central bank move quicker in reducing assets. Senator Rick Scott of Florida wrote another letter to Federal Reserve Chair Jerome Powell on Wednesday, asking why their…
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Treasury Secretary Speaks at Annual Freedman’s Bank Forum
Attendees seek solutions to eliminate discrimination in banking, housing, and lending. The Department of the Treasury hosted the 2023 Freedman’s Bank Forum last week. The gathering included state…
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DOJ Secures $107 Million for Redlining Relief
Offers compensation for communities of color that have experienced discrimination by mortgage lending. The U.S. Department of Justice has investigated allegations of discrimination by banks and lending companies…
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White House Addresses Consumer Junk Fees
FTC and CFPB to implement actions to follow the president’s lead. President Joe Biden gave a speech from the White House Rose Garden this week, addressing the pervasive…
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Federal Reserve Maintains Current Interest Rate
Chairman Powell anticipates addressing inflation into 2026. The Federal Reserve wrapped up a two-day long policy meeting this week, where the members decided to leave the interest rate…
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House Committee Schedules First Impeachment Hearing
Members prepare questions about President Biden’s past business dealings. The House Oversight Committee announced that they have scheduled the first impeachment hearing for President Joe Biden for September…
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