We previously reported that Treasury Secretary Bessent was named as the acting director of the Consumer Financial Protection Bureau (CFPB), and he subsequently ordered the CFPB staff to halt several activities. However, the...more
In this update, we focus on the potential changes in the executive branch and on the congressional committees that have jurisdiction over cryptocurrency. As the transition unfolds, much attention is on who will stay from the...more
Major Developments- Secretary of the Treasury Janet L. Yellen Sends Letter to Congressional Leadership on the Debt Limit- January 19, 2023- U.S. Secretary of the Treasury Janet L. Yellen sent a letter to all members of...more
In This Issue. President Biden signed an executive order addressing climate-related financial risks; the Office of the Comptroller of the Currency (OCC) finalized a rule applicable to national banks and federal savings...more
The official transition to a new administration and early Cabinet selections helped drive Wall Street to new highs on Tuesday, with the Dow topping 30,000 for the first time and the S&P 500 up 1.6% to another new high, too....more
Palantir’s direct listing experiment generally went well yesterday, with the company’s shares beginning trading up nearly 40% from the $7.25 reference price set Tuesday evening. Fellow direct lister Asana also had a good...more
On July 15, 2020, the Federal Reserve Bank of Boston issued new guidance expressly permitting tribal businesses that are borrowers under the Main Street Lending Program (“MSLP”) to pay dividends to their tribal government...more
This week’s latest initial unemployment filings numbered 2.4 million, a “slight drop-off in the wave of historically high weekly filings” since the pandemic hit the U.S. economy. Don’t get too excited, though. Continuing...more
President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act into law on May 24, 2018. Section 211 of the law requires the Secretary of the Treasury, Board of Governors of the Federal Reserve...more
A review of the Fed minutes released yesterday shows the willingness of some Fed Governors to start rate raising again sooner rather than later....more