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5 days ago | 
bankingdive.com | Rajashree Chakravarty
A landmark bill seeking to create a new framework for stablecoins failed to get the necessary Senate votes to advance after Democrats blocked it Thursday, raising concerns about President Donald Trump and his family benefiting from crypto. The Guiding and Establishing National Innovation for U.S. Stablecoins Act, a first-of-its-kind bill backed by the crypto industry, drew a 48-49 procedural vote in the Senate, but advancement would have required 60. Sen.
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5 days ago | 
finance.yahoo.com | Rajashree Chakravarty
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. A landmark bill seeking to create a new framework for stablecoins failed to get the necessary Senate votes to advance after Democrats blocked it Thursday, raising concerns about President Donald Trump and his family benefiting from crypto.
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6 days ago | 
bankingdive.com | Rajashree Chakravarty
Year-end bonuses for equity sales and trading bankers will see an uptick of 15% to 25% – the highest any business area might get – driven by the spikes in trading volume that come with market volatility, according to a quarterly report published Thursday by Johnson Associates. Retail and commercial bankers’ incentives are predicted to drop by 5% to 10% because of lower lending volumes and higher credit provisions, according to the consultant.
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6 days ago | 
finance.yahoo.com | Rajashree Chakravarty
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Year-end bonuses for equity sales and trading bankers will see an uptick of 15% to 25% – the highest any business area might get – driven by the spikes in trading volume that come with market volatility, according to a quarterly report published Thursday by Johnson Associates.
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1 week ago | 
bankingdive.com | Rajashree Chakravarty
President Donald Trump’s potential conflict of interest regarding his ownership and oversight of crypto-related agencies prompted Rep. Maxine Waters, D-CA, and other Democratic lawmakers to walk out of a joint hearing on digital asset legislation on Tuesday.
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1 week ago | 
bankingdive.com | Rajashree Chakravarty
Credit Suisse Services AG, now owned by UBS, has agreed to pay more than $510 million to settle a yearslong investigation into how the lender helped taxpayers hide assets and income in offshore accounts for more than a decade, the Justice Department said Monday. Credit Suisse pleaded guilty to conspiring to hide more than $4 billion from the Internal Revenue Service in at least 475 offshore accounts.
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1 week ago | 
bankingdive.com | Rajashree Chakravarty
The Consumer Financial Protection Bureau, the U.S. Chamber of Commerce and six banking trade groups filed a joint stipulation last week to dismiss the bureau’s appeal in an unfair, deceptive, or abusive acts or practices manual lawsuit. The parties agreed April 30 to dismiss with prejudice a Biden-era update to the CFPB’s unfair practices manual that would have allowed the bureau’s examiners to investigate banks for discrimination under UDAAP authority.
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1 week ago | 
bankingdive.com | Rajashree Chakravarty
The National Credit Union Administration board liquidated Englewood Cliffs, New Jersey-based Unilever Federal Credit Union on Wednesday and declared it insolvent. The NCUA also issued two consent orders against credit union employees prohibiting them from participating in the affairs of any federally insured depository institution. UFCU reported a loss of $134,891 at the end of 2023, then a loss of $336,490 at the end of last year, Credit Union Times reported.
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1 week ago | 
finance.yahoo.com | Rajashree Chakravarty
Unlock stock picks and a broker-level newsfeed that powers Wall Street. Rajashree Chakravarty Wed, Apr 30, 2025, 10:59 AM 3 min read This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. European neobank Bunq has expanded into cryptocurrency, partnering with U.S.-based crypto exchange firm Kraken, the company announced on Tuesday.
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1 week ago | 
finance.yahoo.com | Rajashree Chakravarty
Unlock stock picks and a broker-level newsfeed that powers Wall Street. Rajashree Chakravarty Thu, May 1, 2025, 8:44 AM 2 min read This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. The National Credit Union Administration board liquidated Englewood Cliffs, New Jersey-based Unilever Federal Credit Union on Wednesday and declared it insolvent.
