NEW YORK (AP) — The Treasury Department ordered the nation’s banking industry to start disclosing its holdings of Russian assets on Tuesday, with the goal of eventually seizing those billions of dollars in assets and selling them to aid the devastated Ukrainian economy. The disclosure is required under a new law passed by Congress earlier this year known as the REPO Act, which gives the U.S. government the authority to seize Russian state assets held by U.S. banks, with the goal of eventually selling them and giving those funds to...
Hospitals across the U.S. are canceling operationsPatrick SmithPatrick Smith is a London-based editor and reporter for NBC News Digital.Hospitals and...
NEW YORK (AP) — The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act, a 1968 law that requires lenders disclose all loan costs and fees.If enacted, the proposed rule would provide clarity to a fast-growing industry known as Earned Wage Access, which has been compared to payday lending. The agency wants borrowers to be able to “easily compare products” and to prevent “race-to-the-bottom business practices,”...