On March 17, Senators Elizabeth Warren (D-MA), Jack Reed (D-RI), Mark Warner (D-VA), and Jon Tester (D-MT) introduced the Digital Asset Sanctions Compliance Enhancement Act (Act) in an attempt to ensure blacklisted Russian individuals and businesses do not use cryptocurrency to evade economic sanctions.
“In order for the sanctions levied by the United States and
On March 17, the Senate Committee on Banking, Housing and Urban Affairs conducted a hearing titled, “Understanding the Role of Digital Assets in Illicit Finance,” which focused extensively on whether and how Russia could use digital assets to avoid sanctions, as well as how Ukraine is using cryptocurrency to support their fight against Russia.
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Wednesday, March 23 • 2:30 – 3:30 p.m. ET
On March 16, the Consumer Financial Protection Bureau unveiled an enormous change to its fair lending philosophy that will have major ramifications for financial services providers of all types. Please join us for a webinar where we will examine this announcement, its enormous practical impacts, and
On March 8, the U.S. Federal Reserve Banks launched the FedNow Service Provider Showcase (Showcase) to show financial institutions and users the various services to assist them in implementing the FedNow Service (Service).
The FedNow Service is an instant payment service to provide all depository institutions in the United States with access to instant payment
On March 16, the Consumer Financial Protection Bureau (CFPB or Bureau) unveiled an enormous change to its fair lending philosophy that will have major ramifications for financial services providers of all types. In a press release, the CFPB announced that it will begin targeting discrimination as an unfair practice under its unfair, deceptive, and
The Uniform Commercial Code’s (UCC) midnight deadline rule imposes an obligation on payor banks to return dishonored checks before midnight of the next business day after the date of receipt of the item. The midnight deadline rule states: “If an item is presented and received by a payor bank, the bank is accountable for the
California Privacy Protection Agency Director Ashkan Soltani recently announced that long-awaited regulations related to the California Privacy Rights Act (CPRA) would be delayed. The agency initially scheduled a July 1 deadline to promulgate regulations and allow companies time to comply with the CPRA, which is set to be enforced beginning July 1, 2023. However, Director
This article was republished on insideARM on March 28, 2022.
On March 15, the Federal Trade Commission (FTC or Commission) released a consent agreement with Electronic Payment Systems and its owners John Dorsey and Thomas McCann (collectively, EPS) for allegedly opening credit card processing merchant accounts for fictitious companies on behalf of Money Now Funding
On February 3, the Nevada Financial Institutions Division (NFID) issued a bulletin, stating that any licensed collection agency or manager must transition their license to the Nationwide Multistate Licensing System (NMLS) by June 30. Licensees that do not submit a request to transition by June 30 will see their licenses expire without an option for
U.S. Senator Sherrod Brown (D-OH), chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has introduced the Arbitration Fairness for Consumers Act. The legislation, introduced on March 7, proposes to amend Title X of the Consumer Financial Protection Act of 2010 to prohibit pre-dispute arbitration agreements and class-action waivers in contracts