Fintech companies that offer online banking services can be dangerous and cause users to lose their money, Sen. Sherrod Brown (D-Ohio), chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, warned in an interview with Business Insider. Users should be wary about fraud, privacy breaches, and hidden fees while using fintech services,…
Senator Warns of ‘Digital-Only’ Fintech Companies Posing as Banks, People’s Money ‘At Risk’
Stablecoin Issuers and Exhanges Urged to Be Transparent on How They’re Protecting Consumers and Investors
The head of the U.S. Senate banking committee sent letters on Tuesday to stablecoin issuers and exchanges urging them to be more transparent about how they are protecting consumers and investors following multiple risks highlighted in the recent report by the President’s Working Group on Financial Markets (PWG). Sen. Sherrod Brown (D-Ohio), chair of the U.S….
Bank Regulator Nominee Tries to Detach from Her Bank Centralization Ideas During Hearing
Saule Omarova, nominated by President Joe Biden for the role of one of the top banking regulators, on Nov. 18 tried to portray her recently published proposal to centralize banking as merely an outline of one among many options to consider rather than her own preference. Her proposal, outlined in an October paper titled “The…
Senate Banking Chief Plans Bill to Address Fed Officials’ Stock Trades
The head of the U.S. Senate Banking Committee on Tuesday said he plans to introduce legislation that would ban ownership of individual stocks by Federal Reserve officials in the aftermath of revelations that two reserve bank presidents had been active investors. Democratic Senator Sherrod Brown of Ohio told Fed Chair Jerome Powell of his intent…
US News
- Ross MuscatoSince the Dec. 12, 2012, massacre of 20 children and six educators at Sandy Hook Elementary School in Connecticut, the state has passed several laws to restrict and make it… [...]
- Ryan MorganThe campaign video Rep. Adam Schiff (D-Calif.) released to announce his 2024 Senate campaign became the subject of an ethics complaint within a single day. On Thursday, Schiff announced he… [...]
- Amy GammFive Republican members of Congress from New York sent a letter to President Joe Biden on Wednesday, demanding transparency about his administration’s “secrecy” involving migrant relocation operations and expressing outrage… [...]
- City News ServiceThe Los Angeles City Council tentatively voted Jan. 27 to provide tenants who are behind on their rent with a one-month grace period prior to their landlord beginning eviction proceedings,… [...]
- Lear Zhou, Jason BlairSAN FRANCISCO—Hundreds of community members gathered in Portsmouth Square in San Francisco on the evening of Jan. 26 to commemorate the victims of two recent mass shootings in California and… [...]
- City News ServiceSAN DIEGO—A Chula Vista man who blew up two ATMs in an attempt to steal the money inside was sentenced Jan. 27 to more than 11 years in federal prison.… [...]
- Caden PearsonFormer Vice President Mike Pence on Friday acknowledged his responsibility for classified documents found at his residence in Indiana and pledged to participate in any investigation into the matter. Pence… [...]
- Joseph M. HannemanA California doctor who treated the mortally wounded Ashli Babbitt after she was shot outside the House of Representatives on Jan. 6, 2021, was arrested by the FBI on four… [...]
- Bill PanThe State Bar of California is moving to disbar attorney and former law professor John Eastman for supporting President Donald Trump’s efforts to challenge the 2020 election results. In a… [...]
- Jack BradleyOrange County Sheriff’s officials announced Jan. 26 that “rainbow” fentanyl was found for the first time in the department’s jurisdiction. Deputies confiscated 14,000 multi-colored fentanyl pills along with 2 kilograms… [...]