Financial Experts Advise Lawmakers on Future for AI
U.S. Senate
Financial Experts Advise Lawmakers on Future for AI
2023-09-20 18:47:43
by Tom Ramstack

WASHINGTON — Lawmakers sought answers Wednesday on how the U.S. financial industry could reap potentially huge benefits from artificial intelligence while avoiding devastating risks. Sen. Mike Rounds, R-S.D., summed up the balancing act Congress wants to perform by asking financial... Read More

Banks Threatened With Tougher Rules After Collapses Deplete Accounts
Banking
Banks Threatened With Tougher Rules After Collapses Deplete Accounts
2023-05-12 21:39:09
by Tom Ramstack

WASHINGTON — The Federal Deposit Insurance Corporation announced Thursday the nation's banks will be required to replenish the backup funds depleted by two recent big bank failures. The FDIC made the announcement on the same day the Government Accountability Office... Read More

Renewed Bipartisan Effort Aims to Open Banking to Cannabis Industry
Congress
Renewed Bipartisan Effort Aims to Open Banking to Cannabis Industry
2023-04-27 21:53:17
by Dan McCue

WASHINGTON — Just days after an extraordinary cannabis policy summit in the U.S. Capitol, a bipartisan group of lawmakers has reintroduced a bill aimed at ensuring legal cannabis businesses have access to banking and other financial services. The SAFE Banking... Read More

President Calls for Stronger Penalties for Execs of Banks That Fail
Banking
President Calls for Stronger Penalties for Execs of Banks That Fail
2023-03-17 21:27:44
by Dan McCue

WASHINGTON — President Joe Biden is urging Congress to give the Federal Deposit Insurance Corporation more power to punish bank executives whose institutions failed due their own mismanagement or excessive risk taking. Biden’s remarks, issued as a statement from the... Read More

Record Number of Americans Have Bank Accounts, FDIC Says
Economy
Record Number of Americans Have Bank Accounts, FDIC Says
2022-10-25 23:25:54
by Dan McCue

WASHINGTON — Despite a global pandemic that stalled state and local economies for months, a record 96% of Americans had bank accounts in 2021, according to a new survey released Tuesday by the Federal Deposit Insurance Corporation. The FDIC’s “2021... Read More

House Passes Bill Granting Marijuana Businesses Access to Banking
Economy
House Passes Bill Granting Marijuana Businesses Access to Banking
2019-09-27 20:59:45
by Dan McCue

WASHINGTON - The House passed a bill earlier this week that would grant legal marijuana businesses access to banking, resolving a longstanding challenge for the growing industry. The bill, called the SAFE Banking Act, passed 321-103 on the strength of... Read More

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