The Commodity Futures Trading Commission (CFTC) released an interpretive letter providing views on certain foreign exchange (FX) transactions. The letter (CFTC Letter No. 25-10) delivers the views of the CFTC’s Market Participants Division and Division of Market Oversight on the characterization of certain FX transactions as being swaps,...
The European Union is reportedly preparing penalties against X that include a fine and demands for changes to the platform. The penalties are expected to be announced this summer and would be the first issued under the EU’s Digital Services Act, which requires companies to police their platforms...
The Justice Department reportedly told financial regulators that it didn’t have sufficient evidence to block the proposed merger between Capital One and Discover. This decision would allow the two banking regulators that must approve the deal — the Federal Reserve and the Office of the Comptroller of the Currency — to approve the...
The Senate Banking Committee voted Thursday (April 3) to advance President Donald Trump’s nominee as chair of the Securities and Exchange Commission (SEC), Paul Atkins, to the full Senate, which will vote whether to confirm the appointment. The committee’s vote was 13 to 11, along...
The Securities and Exchange Commission (SEC) will reportedly restructure its regional offices so that fewer people report directly to the agency’s enforcement director. Effective April 9, the SEC’s 10 hubs across the country will be reorganized under four deputy directors — West, Northeast, Southeast and...
The on-again, off-again saga of the Consumer Financial Protection Bureau (CFPB) continues. The Trump administration on Saturday (March 29) filed a claim in the U.S. Court of Appeals asking it to weigh in on a decision issued Friday that seemingly gave the agency a new...
The Commodity Futures Trading Commission withdrew two advisories: one on the review of risks related to clearing digital assets, and the other on virtual currency derivative product listings. The CFTC’s Division of Clearing and Risk announced in CFTC Letter No. 25-08 that it is withdrawing...
The U.S. Senate voted Thursday (March 27) to repeal the Consumer Financial Protection Bureau’s final rule capping overdraft fees. By a 52-48 vote, the Senate passed the joint resolution introduced by Senate Banking Committee Chairman Tim Scott of South Carolina, according to a roll call...
The FTC has won a $17 million settlement against online cash advance company Cleo AI. The settlement stems from a complaint by the Federal Trade Commission (FTC) that Cleo had deceived consumers about the amount of money they could get and how quickly they could get it, according...
