Tag: banking
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Dartmouth Government Professor Mia Costa Wins 2026 Edwards Book Award
Dartmouth associate professor of government Mia Costa, author of How Politicians Polarize, has won the 2026 Edwards Book Award, the college has announced.
EducationMediaBusinessSocial IssuesEconomyBanking Mia CostaEdwards Book AwardDartmouth CollegeHow Politicians PolarizeDevin Singhhigher educationbook awards
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Treasury Reports $199.8 Billion Net TIC Inflow for August 2026
Treasury International Capital data show a $199.8 billion net inflow in August 2026, with foreign residents buying $300.7 billion in long-term U.S. securities while cutting Treasury bill holdings.
BusinessPolitics and GovernmentUSAEconomyBankingFinancial MarketsFederal Government Treasury International CapitalU.S. Department of the Treasurynet TIC inflowlong-term U.S. securitiesTreasury billsforeign holdingsWashingtonUS Treasury
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Federal Reserve Ends Enforcement Actions Against Gardner Bancshares and Small Business Bank
The Federal Reserve Board has announced the termination of enforcement actions with Gardner Bancshares, Inc. and Small Business Bank, closing out the central bank's outstanding regulatory orders.
BusinessPolitics and GovernmentUSABankingFederal GovernmentLegal Federal Reserve BoardGardner Bancshares, Inc.Small Business Bankenforcement actionbanking regulationBoard of GovernorsWashington DCU.S. Federal Reserve
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Federal Reserve Releases Latest Industrial Production and Capacity Utilization Data
The Federal Reserve has published the newest edition of its G.17 report, covering industrial production and capacity utilization, with the data now available on the Board's website.
BusinessPolitics and GovernmentUSAEconomyFederal GovernmentBanking Federal ReserveIndustrial ProductionCapacity UtilizationG.17Washington DCEconomic IndicatorsU.S. Federal Reserve
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Treasury Sanctions Iraqi Bank and Iranian Offshore Lenders, FinCEN Warns Banks on Charity Abuse
FinCEN's alert under Operation Economic Outcast asks financial institutions to report diversion of khums religious tithes through charity networks, while Treasury blocks an Iraqi bank, Iranian offshore banks, oil intermediaries and exchange houses.
Politics and GovernmentBusinessLaw EnforcementIranUSAFederal GovernmentBankingLegalMiddle EastMilitaryWorldIraqFinancial Markets FinCENOperation Economic Outcastreligious charity networkskhumsU.S. Department of the Treasuryfinancial institutionsFinancial Crimes Enforcement NetworkIran sanctionsInternational Development BankScott BessentOffice of Foreign Assets Controlshadow bankingUS TreasuryIranian regimereligious charitiesterrorism financing
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FTC Sends $9.8 Million to Consumers Harmed by Walmart Wire Transfer Scams
The FTC is paying out more than $9.8 million to consumers harmed by Walmart's alleged failure to stop scammers who used its wire transfer services to take hundreds of millions of dollars.
BusinessLaw EnforcementUSAFederal GovernmentLegalBanking Federal Trade CommissionWalmartwire transfer scamsconsumer refundsscammersProduct Recall
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Media Monitor: WSJ Opinion Roundup Covers Libor Ruling, Inflation, Starlink in Ukraine
The Wall Street Journal's editorial board and columnists weigh in on overturned Libor fraud convictions, inflation and real wages, Starlink throttling in Ukraine, and Democratic politics.
BusinessPolitics and GovernmentWorldHealthMediaEconomyBankingFinancial MarketsWhite HouseRepublican PartyDemocratic PartyEuropeMiddle EastMilitaryLegalEducationFilm and TV Wall Street JournalLiborinflationFederal ReserveStarlinkUkraineDonald TrumpWall Street Journal Editorial Board
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OCC Report Finds All Nine Largest National Banks Had Debanking Policies
Comptroller Jonathan V. Gould says the banks denied or limited services based on political, religious or social views and lawful business activities between 2020 and September 2025, and that the OCC will assess further regulatory changes.
Politics and GovernmentBusinessBankingFederal GovernmentCongressLegalEconomySocial Issues Office of the Comptroller of the CurrencyDebankingJonathan V. GouldAndy BarrCoal industryFirearms industryLexington, KentuckyOffice of the Comptroller of the Currency (OCC)National banksFair access to financial servicesReputation riskExecutive Order
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Federal Reserve Releases Beige Book
The Federal Reserve has published its Beige Book, a regular publication on monetary policy, available through the Board's website and social media channels.
BusinessPolitics and GovernmentUSAEconomyFederal GovernmentBanking Federal ReserveBeige Bookmonetary policyFederal Reserve BoardWashington DCU.S. Federal Reserve
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Federal Reserve Marks National Economic Education Month with Webinar, Recruiting Push
Fed newsletter announces October Economic Education Month, a monetary policy webinar on October 20, research assistant and summer 2027 internship recruiting, currency education resources and the High School Fed Challenge.
BusinessPolitics and GovernmentEducationEconomyFederal GovernmentEmployment and LaborBanking Federal Reserve BoardNational Economic Education Monthmonetary policyresearch assistantinternshipU.S. Currency Education ProgramHigh School Fed ChallengeU.S. Federal Reserve
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Bank of America Hit With Over $1.96 Billion in AML and Sanctions Penalties
FinCEN assessed $1.2 billion, the OCC $750 million and OFAC $11.6 million, with the bank admitting it willfully violated the Bank Secrecy Act.
BusinessLaw EnforcementUSABankingLegalFederal GovernmentFinancial MarketsPolitics and GovernmentEconomy Office of the Comptroller of the CurrencyBank of AmericaBank Secrecy Actcivil money penaltyanti-money launderingFinancial Crimes Enforcement NetworkJonathan V. GouldOffice of the Comptroller of the Currency (OCC)FinCENmoney launderingOffice of Foreign Assets ControlsanctionsU.S. Department of the TreasuryOFACUS Treasury
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Guilfoyle Resigns as U.S. Ambassador to Greece After White House Pressure
Trump said "I didn't like what I read" as reports alleged she asked a donor to pay her $100,000 American Express bill, allegations she denies.
Politics and GovernmentBusinessMediaHealthUSAGeneral PoliticsWhite HouseDemocratic PartyRepublican PartyCongressElectionBankingLegalEntertainmentAsiaComputers and InternetWorldLaw EnforcementFederal GovernmentMedical ScienceEuropeDigital and Print PublishingEmployment and LaborEducation Newsweek2026 midtermsKimberly GuilfoyleDonald TrumpAlaskaIlhan OmarGreecePope Leo XIVlung cancerDamien EcholsRussia Ukraine ceasefireambassadorWashington Postjob marketphone usepizzaThe Washington PostKatie ZachariaWhite House press secretaryGreece ambassadorSusan CollinsCornell UniversityUSA TODAYUSA TODAY On Politics
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Virginia's AAA Bond Rating Affirmed by All Three Major Rating Agencies
Governor Abigail Spanberger announced Fitch, Moody's and S&P Global affirmed Virginia's AAA ratings, keeping the Commonwealth among 14 states at the highest credit levels.
Politics and GovernmentBusinessUSAState GovernmentsEconomyFinancial MarketsBanking VirginiaAbigail SpanbergerBond RatingFitch RatingsMoody's RatingsS&P Global RatingsState BudgetReston
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Media Monitor: MIT Technology Review Reports Rise of Startup Data Sales to AI Labs
MIT Technology Review reports that firms helping failed startups wind down are now selling their code and workspace data to AI labs, raising privacy and fairness concerns.
Science & TechnologyBusinessLaw EnforcementUSAArtificial IntelligenceComputers and InternetLegalSocial IssuesBanking MIT Technology ReviewSimpleClosurestartup shutdownsdata privacyGoogleSpirit AirlinesMITsciencetechnology
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Alaska Joins 45-State Coalition Seeking Approval of Generic Drug Price-Fixing Settlements
Acting Alaska Attorney General Cori Mills joins 45 states and territories seeking court approval of settlements with Ascend, Citron and Mayne Pharma over alleged generic drug price inflation.
Politics and GovernmentBusinessHealthLaw EnforcementState GovernmentsLegalBankingEnergyMilitarySocial Issues Cori MillsAscend LaboratoriesCitron PharmaMayne Pharmageneric drug price fixingCoinme Inc.Alaska Department of HealthOffice of the Alaska Governor
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Federal Reserve Board Releases Results of 2025 Survey of Consumer Finances
The Federal Reserve Board has published the findings of its 2025 Survey of Consumer Finances, offering the public and policymakers detailed insights into the economic condition of American families.
BusinessPolitics and GovernmentEconomyFederal GovernmentBankingUSA Federal Reserve Board2025 Survey of Consumer FinancesSurvey of Consumer FinancesAmerican familieseconomic conditionBoard of Governors of the Federal Reserve SystemWashington DCU.S. Federal Reserve
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Treasury Secretary Bessent Names Dr. Judy Shelton as Counselor
Economist and author Judy Shelton joins the Treasury as a Counselor in the Office of the Secretary, advising on currency policy with a focus on China's financial conditions.
Politics and GovernmentBusinessUSAFederal GovernmentEconomyBankingFinancial Markets Judy SheltonScott BessentU.S. Department of the Treasurycurrency policyChinaHoover InstitutionWashingtonUS Treasury
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OCC Allows Banks in Alabama and Mississippi to Close as Hurricane Isaias Hits
The OCC issued a proclamation letting national banks, federal savings associations and federal branches of foreign banks close offices in Alabama and Mississippi areas affected by Hurricane Isaias.
BusinessWeatherBankingDisastersFederal GovernmentGeneral Weather Office of the Comptroller of the CurrencyHurricane IsaiasAlabamaMississippinational banksfederal savings associationsbank office closuresOffice of the Comptroller of the Currency (OCC)
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OCC Fines American Express National Bank $350 Million Over Anti-Money Laundering Failures
The OCC issued a cease-and-desist order and a $350 million penalty against American Express National Bank, citing BSA/AML program deficiencies and roughly $13 billion in unreported suspected activity.
BusinessLaw EnforcementPolitics and GovernmentUSABankingLegalFederal GovernmentFinancial Markets Office of the Comptroller of the CurrencyAmerican Express National BankBank Secrecy Actanti-money launderingcivil money penaltyJonathan Gouldtrade-based money launderingOffice of the Comptroller of the Currency (OCC)
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Federal Reserve Announces Enforcement Action Against American Express Over Suspicious Activity Reporting
The Federal Reserve Board has announced an enforcement action against American Express Company, citing its failure to sufficiently detect and report certain suspicious activity tied to money laundering.
BusinessLaw EnforcementUSABankingLegalFinancial Markets Federal ReserveAmerican Express Companyenforcement actionmoney launderingsuspicious activityBoard of GovernorsU.S. Federal Reserve
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SEC to Host Virtual National Compliance Outreach Seminar on Nov. 19
The 2026 Compliance Outreach Program National Seminar, aimed at chief compliance officers of investment companies and investment advisers, will run from 8:30 A.M. ET.
BusinessPolitics and GovernmentUSAFederal GovernmentFinancial MarketsLegalBankingEducation Securities and Exchange CommissionCompliance Outreach ProgramInvestment AdvisersInvestment CompaniesInvestor ProtectionVirtual Seminarchief compliance officersWashington, DC
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Federal Reserve Releases Latest Consumer Credit Data
The Federal Reserve has published its latest G.19 consumer credit data, with the figures now available on the central bank's website for public review.
BusinessPolitics and GovernmentUSAEconomyBankingFederal Government Federal ReserveConsumer CreditG.19Federal Reserve BoardWashington DCU.S. Federal Reserve
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Federal Reserve Releases Minutes of September 15-16 FOMC Meeting
The Federal Reserve Board has published the minutes of the Federal Open Market Committee meeting held September 15-16, 2026, released by the Board of Governors.
BusinessPolitics and GovernmentUSAEconomyBankingFederal GovernmentFinancial Markets Federal ReserveFederal Open Market CommitteeFOMC minutesBoard of Governorsmonetary policyWashington DCU.S. Federal Reserve
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Comptroller Gould Unveils New Fraud Reporting Tool for Community Banks in Minneapolis
Comptroller of the Currency Jonathan V. Gould met Minneapolis community bankers to discuss fraud, announcing a new tool for reporting suspected payments fraud to an OCC taskforce.
BusinessPolitics and GovernmentLaw EnforcementBankingFederal GovernmentEconomyLegalUSA Office of the Comptroller of the CurrencyJonathan V. Gouldfinancial fraudcommunity banksMinneapolis, MinnesotaFinCEN 314(b)Do Not Pay programOffice of the Comptroller of the Currency (OCC)
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SEC Seeks Final Judgment Against Former Western Asset Co-CIO Ken Leech in Cherry Picking Case
The SEC has moved for a final judgment by consent against Stephen Kenneth Leech II, former co-chief investment officer of Western Asset Management Company LLC, in its cherry picking case.
BusinessLaw EnforcementUSAFinancial MarketsLegalBanking Securities and Exchange CommissionKen LeechWestern Asset Management Company LLCcherry pickingfinal judgmentinvestment adviser
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Fed's Bowman to Address Modernizing Regulation and Supervision at Community Banking Conference
Federal Reserve Vice Chair for Supervision Bowman speaks on modernizing regulation and supervision at the 2026 Community Banking Research Conference in St. Louis, Missouri.
BusinessPolitics and GovernmentUSABankingEconomyFederal GovernmentLegal Federal ReserveBowmanCommunity Banking Research ConferenceConference of State Bank SupervisorsFederal Deposit Insurance CorporationSt. Louisbank supervisionU.S. Federal Reserve
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Treasury Expands Do Not Pay to 99% of Federal Programs, Verifies $3.7 Trillion in Payments
Treasury reports FY2026 fraud prevention gains: Do Not Pay access jumped from 4% to 99% of federal programs, 2.3 billion records screened, and $175 million in payments to deceased individuals returned.
Politics and GovernmentBusinessUSAFederal GovernmentEconomyBankingLegal U.S. Department of the TreasuryDo Not Payimproper paymentsScott BessentExecutive Order 14249Bureau of the Fiscal Servicepayment verificationUS Treasury
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OCC Hails 2026 Update to U.S. National Strategy for Financial Literacy
The OCC endorsed the 2026 update to the U.S. National Strategy for Financial Literacy, which sets four priority areas including youth financial capability, saving and investing, digital literacy, and fraud education.
BusinessPolitics and GovernmentUSABankingFederal GovernmentEconomyEducationSocial Issues Office of the Comptroller of the CurrencyFinancial Literacy and Education CommissionU.S. National Strategy for Financial LiteracyJonathan V. GouldFinancial LiteracyTrump AccountsScams and Fraud EducationOffice of the Comptroller of the Currency (OCC)
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Federal Reserve Board Approves Isabella Bank Corporation Application
The Federal Reserve Board announced approval of an application by Isabella Bank Corporation, releasing the order through its official press release channel.
BusinessPolitics and GovernmentUSABankingFederal GovernmentFinancial Markets Federal Reserve BoardIsabella Bank Corporationapplication approvalBoard of GovernorsFederal Reserve SystemWashington DCbanking regulationU.S. Federal Reserve
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Bessent Holds Trump Accounts Press Conference With Pennsylvania Lawmakers
Treasury Secretary Scott Bessent joins Pennsylvania lawmakers for a 4 PM ET press conference on what automatic enrollment in Trump Accounts means for Pennsylvania families.
Politics and GovernmentBusinessUSAFederal GovernmentEconomyBanking Scott BessentTrump AccountsU.S. Department of the TreasuryPennsylvaniaautomatic enrollmentpress conferenceUS Treasury