The European Commission and the U.S. Consumer Financial Protection Bureau (CFPB) have launched an informal dialogue to address the risks of rapid digitalization. Their collaboration safeguards consumers from fraud, privacy violations and discrimination concerns, according to a press release.
The Climate-related Financial Risk Committee (CFRC) of the Financial Stability Oversight Council (FSOC) reported noteworthy progress in addressing climate-related financial risks, highlighting interagency collaboration and risk assessment efforts.
In its annual report to Congress, the Committee on Foreign Investment in the United States highlighted a remarkable year in 2022, with a historic number of reviews and increased focus on non-notified transactions to address national security risks effectively.
Reserve Bank of India (RBI) Deputy Governor Shri M. Rajeshwar Rao is calling for global cooperation in managing climate risks and promoting sustainable finance at an IMF panel discussion, urging central banks to take proactive measures.
Secretary of the Treasury Janet L. Yellen commemorated the Inflation Reduction Act's one-year mark, highlighting robust economic gains and the law's pivotal role in advancing climate initiatives.
President Biden's executive order, driven by national security concerns, empowers regulations to thwart foreign entities from accessing U.S. technology pivotal to their military and intelligence ambitions, safeguarding American interests.
The Biden administration recently declared a national emergency to address threats from countries advancing sensitive military technologies, an action praised by congressional leaders for its thoughtful approach to national security and free-market principles.
U.S. Treasury Secretary Janet L. Yellen emphasized support for Ukraine amid the Russian aggression, aligning with a $3.3 billion supplemental funding request for 2024, aimed at security, economic and humanitarian aid.
U.S. Sen. Sherrod Brown, D-Ohio, and colleagues recently urged the Federal Reserve to reevaluate big bank merger policies, emphasizing a review on financial stability impact amid failures of several prominent banks.
PayPal, the online payment giant, takes a significant step into the world of digital currencies with the launch of PayPal USD, a U.S. dollar-denominated stablecoin, aiming to enhance digital payment experiences.
In a surprising move, Fitch Ratings downgrades the United States' credit rating from 'AAA' to 'AA+', citing fiscal concerns and governance issues, raising alarm in the financial world.
Treasury Secretary Janet L. Yellen hails significant strides in IRS modernization and inflation reduction under the Inflation Reduction Act, while voicing disagreement with Fitch's recent U.S. credit rating downgrade.
In a significant address on August 3, 2023, Eric Van Nostrand, Acting Assistant Secretary for Economic Policy, hailed the success of the price cap policy in countering Russia's aggression in Ukraine and promoting global economic stability.
Texas' service sector witnessed accelerated growth in July, reflected by a nine-point rise in the revenue index, marking a 16-month peak. Employment remained steady, while business outlooks displayed a mix of sentiments.
In a recent address, Federal Reserve Bank of Richmond President Tom Barkin offered insights into the possibility of a recession, highlighting resilience in the face of inflation and economic challenges.
The Federal Reserve recently unveiled the FedNow® Service, an instant payment system that offers customers and businesses immediate money transfers anytime and on any day.
A group of U.S. lawmakers, led by French Hill (AR-02), introduced the Financial Innovation and Technology for the 21st Century Act (H.R. 4763). The bill aims to establish a specialized market structure framework for digital assets, fostering innovation while ensuring regulatory clarity.
The House Financial Services Subcommittee on Financial Institutions and Monetary Policy on July 20 conducted the hearing "Climate-Risk: Are Financial Regulators Politically Independent?" Republican legislators introduced four bills intended to limit federal regulators' ability to connect climate change to financial security.
The U.S. Treasury Department's Financial Literacy and Education Commission (FLEC) held a public meeting July 20 which focused on the financial literacy and educational needs of Tribal and Native communities.
During a recent address, Adeyemo highlighted the transformative potential of State and Local Fiscal Recovery Funds (SLFRF) for workforce development. He emphasized the urgency of utilizing the funds and the nearing deadline.