The Biden administration is rolling out new recordkeeping rules for U.S. investment advisers in its continued effort to clamp down on money laundering, illicit finance and fraud in the American financial system.
A grant given to fund an affordable housing project reduces the cost basis for developers and thereby reduces the amount that can be raised in private funds through the LIHTC program.
The U.S. Treasury Department, as part of its efforts to combat corruption and terrorism, proposed a new rule Tuesday that requires companies to identify who owns and controls them, rather than the names of the people who formed the company.
The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
Democrats have updated a Biden administration proposal that would require that banks and credit unions report account activity to the Internal Revenue Service, but trade groups remain opposed to the plan.
The Paycheck Protection Program loan portal will open to lenders with $1 billion in assets or less at 9 a.m. tomorrow, with the remaining lenders gaining access to the portal on Tuesday.
A congressional report released last week provided evidence that the Treasury Department had advised banks to focus on existing customers during the early days of the Paycheck Protection Program, a finding that the Treasury Department denied.
Small business owners who received Paycheck Protection Program loans for less than $50,000 will receive forgiveness even if they have reduced the number of employees, according to guidance released yesterday by the U.S. Small Business Administration.
The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled a hack that accessed the personal information of 106 million of the bank’s credit card holders.
The Trump administration announced Friday it will publicly disclose the names of recipients of the taxpayer-funded loans, the amounts they received in ranges, as well as demographic data on the businesses.
More small business owners with past felony convictions can now apply for Paycheck Protection Program loans.
While lenders have been focusing on the Paycheck Protection Program for small businesses, the Federal Reserve Board has revamped another loan program intended to help businesses affected by the coronavirus pandemic.
Almost 47,000 Massachusetts small businesses received approval for Paycheck Protection Program loans before funds ran out on April 16.
Families have been benefiting from historic lows on student loan interest rates. But that will change this fall.
