Banks holding customer funds for money management apps should keep track of customers’ identities and balances, the agency says.
Category: Regulation and Deregulation of Industry
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Banking Deal Oversight Expected to Get a Major Revamp
The F.D.I.C. and the Justice Department are likely to change how they evaluate mergers and acquisitions in the banking industry.
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Big Energy Issue in Pennsylvania Is Low Natural Gas Prices. Not Fracking.
Energy businesses and farmers in western Pennsylvania are struggling because of prices, an issue that has not figured prominently in the campaigns of Donald J. Trump and Kamala Harris.
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Amazon Sought Tariff Loophole Used by Chinese Rivals. Now Biden Is Closing It.
Under pressure from Chinese competitors, Amazon, Walmart and other U.S. retailers have been exploring ways to avoid tariffs. Could a new Biden administration rule change that?
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U.S. Moves to Block a Popular Tariff-Free Path for Chinese Goods
The Biden administration said it would clamp down on billions of dollars in small-dollar imports that ship directly to consumers.
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China Fines PwC $62 Million for Botching Its Work for Evergrande
The authorities also imposed a six-month suspension on the local operations of the global firm, which was once one a dominant auditing firm in China.
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Navient Reaches $120 Million Student Loan Settlement With Consumer Watchdog
The company has been banned from servicing federal student loans and must pay $100 million to harmed borrowers, as well as a $20 million penalty.
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Trump’s Promises to Cut Inflation Are Unrealistic, Many Economists Say
Economists and analysts are dubious of Trump’s promises to slash gas prices or prod interest rates lower.
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After Fierce Lobbying, Regulators Soften Proposed Rules on Banks
A top Federal Reserve official said that blowback to proposed rules on capital requirements led him to “relearn the lesson of humility.”
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Harris Economic Plan Focuses on Prices, a Key Vulnerability
Vice President Kamala Harris has been balancing the challenges of defending “Bidenomics” and charting her own course on the economy.
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Just Miles from Kroger’s Court Battle, a Food Desert Shows What’s at Stake
Federal regulators are trying to block Kroger’s merger with Albertsons. In a Portland suburb, residents already know what deteriorating access to fresh food looks like.