A major milestone in the legal conflict between Bank of America and the Federal Deposit Insurance Corporation (FDIC) has brought one of the United States’ largest financial institutions squarely into the regulatory spotlight. After years in court, a Washington federal judge has ordered Bank of America to pay $540.3 million—a substantial sum covering tax periods from 2013 through 2014, including accrued interest.
The administration of President Donald Trump has been granted the authority to fire employees of the Consumer Financial Protection Bureau (CFPB), while ensuring that the agency is not dissolved, as determined by an appellate court on Friday. This ruling marks a new chapter in the complex narrative of an agency established to oversee the consumer lending sector in the aftermath of the financial crisis.
In a time of evolving regulatory landscapes and increasing demands for corporate transparency, the U.S. Department of Justice has decided to maintain its corporate oversight over Balfour Beatty Communities while simultaneously extending the practice to Canadian lender TD Bank. This decision comes amid the ongoing review of oversight practices initiated during the Trump administration, underscoring the importance of rigorous governance in today’s complex financial environment.
Recent developments surrounding the Robinhood trading platform have once again captured the attention of financial regulators and market experts. The Massachusetts Securities Regulator has initiated an investigation into Robinhood's newly launched prediction center, which enables users to place bets on the outcomes of various events, including NCAA college basketball tournaments. This innovative yet controversial move has raised important questions about the merger of traditional brokerage services with elements of sports betting.
