Financial Regulation News

Financial Regulation News, brought to you by Macallan Communications, is your go-to daily news platform for updates on regulations affecting both global and regional financial institutions and their clients. Our dedicated team of seasoned journalists stays closely connected to the happenings in Washington, delivering essential financial policy news each day along with exclusive features in a clear and concise manner. We aim to provide valuable insights into the latest actions from Congress, updates about federal and state regulators that oversee financial markets and the banking sector, and the responses these developments elicit from both Wall Street and Main Street.

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Arkansas asks for approval to restrict SNAP purchases

1 week ago | financialregnews.com | Liz Carey

Arkansas recently became the first state in the country to request permission from the U.S. Department of Agriculture to ban purchases of soda and candy from the Supplemental Nutrition Assistance Program (SNAP). If approved, the waiver would make the products ineligible for SNAP purchases for five years, starting in July 2026.
HUD Secretary Turner visits affordable housing development in South Carolina

1 week ago | financialregnews.com | Liz Carey

U.S. Secretary of Housing and Urban Development Scott Turner joined U.S. Sen. Tim Scott (R-SC) in a visit to an affordable housing development project in Charleston, S.C. The housing project, One80 Place, has 70 affordable housing units and a 65-bed family shelter currently under construction. Located in an Opportunity Zone, developers hope the $44 million project is the first of many across the country.
Liberty Mutual pays $300,000 penalty for misleading consumers in Delaware

1 week ago | financialregnews.com | Liz Carey

The Delaware Department of Insurance announced on Monday that Liberty Mutual has paid a penalty of $300,000 across three member companies, with an express stipulation that an additional $200,000 must be paid if conduct is not immediately remedied. The penalty comes after the department spent months investigating the company over allegations it advertised potential premium discounts for automobile and homeowner’s insurance despite not offering those discounts in Delaware.
KKR acquires OSTTRA from S&P Global and CME

1 week ago | financialregnews.com | Dave Kovaleski

S&P Global and CME Group sold its joint venture, OSTTRA, to private equity firm KKR in a deal valued at $3.1 billion. OSTTRA is a leading provider of post-trade solutions for the global OTC market, serving the global financial ecosystem with a suite of post-trade offerings across interest rates, FX, credit and equity asset classes.
Sens. Warren and Warnock raise concerns to Fed about nation's economic data infrastructure

1 week ago | financialregnews.com | Dave Kovaleski

U.S. Sens. Elizabeth Warren (D-MA) and Raphael Warnock (D-GA) are raising concerns about what they call the Trump Administration’s escalating efforts to dismantle the nation’s independent economic data infrastructure. In a letter to Federal Reserve Chair Jerome Powell, the senators cited a series of recent actions by the Trump Administration that threaten the independence and reliability of key economic statistics.
Sen. Scott sponsors bill designed to expand credit access to more Americans

1 week ago | financialregnews.com | Dave Kovaleski

U.S. Sen. Tim Scott (R-SC) introduced legislation that seeks to expand credit access for Americans with limited or non-existent credit histories. The Credit Access and Inclusion Act, S. 1465, would allow credit bureaus to collect payments data for services not traditionally factored into credit reporting, such as rent, internet, phone, electricity, and utility payments.
Bill to improve college financial assistance introduced in Congress

1 week ago | financialregnews.com | Liz Carey

U.S. Reps. Lloyd Doggett (D-TX) and Mike Kelly (R-PA) have introduced bipartisan legislation aimed at improving access to college financial assistance. The legislation, H.R. 2543, would make any portion of a Pell Grant used for education-related expenses, like computers and childcare, tax-free. Currently, using Pell Grants to cover tuition reduces potential American Opportunity Tax Credit (AOTC) eligibility and creates barriers for students wishing to maximize their educational benefits.
Sen. Kennedy, Rep. Barr unveil resolution to overturn OCC rule on bank mergers

1 week ago | financialregnews.com | Dave Kovaleski

U.S. Sen. John Kennedy (R-LA) and U.S. Rep. Andy Barr (R-KY) introduced a joint resolution of disapproval to nullify a final rule issued by the Office of the Comptroller of the Currency (OCC) related to the review of bank merger applications. The OCC’s rule, finalized last September, imposes new criteria that the lawmakers say would restrict banks of all sizes from pursuing mergers and strategic partnerships.
Senators urge DOJ to reverse course on policies toward crypto crime

1 week ago | financialregnews.com | Liz Carey

A coalition of U.S. senators is asking the U.S. Department of Justice (DOJ) to reverse course on its recent decision to disband the National Cryptocurrency Enforcement Team (NCET). In an April 10 letter to Deputy Attorney General Todd Blanche, U.S. Sens.
Bipartisan bill introduced to reduce spam from mortgage industry

1 week ago | financialregnews.com | Dave Kovaleski

U.S. Sens. Jack Reed (D-RI) and Bill Hagerty (R-TN) introduced legislation that seeks to reduce spam calls, texts, and emails from irresponsible players in the mortgage industry. The Homebuyers Privacy Protection Act, S. 1467, would crack down on the misuse of mortgage “trigger leads” – which occur when a consumer’s credit inquiry “triggers” the sale of their information to third-party lenders and businesses.