Commerce Department Creates U.S. AI Safety Institute Consortium

Secretary Raimondo says the government has a role in setting AI standards and development. Secretary of Commerce Gina Raimondo announced the formation of the U.S. AI Safety Institute…

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Business and Banking Groups File Suit Against Updated Lending Policy

Changes to the Community Reinvestment Act expanded the geographic range. Multiple U.S. banking and business groups sued the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the…

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Treasury Sanctions Russian Responsible for 2022 Medibank Hack

The U.S. coordinates sanctions against Alexander Ermakov with Australia and UK. The Department of the Treasury sanctioned Russian national Alexander Ermakov on Tuesday in coordination with similar sanctions…

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DOJ Collects Fraud Cases Against “Microtransactions”

Civil division official says the schemes “prey upon individuals and small businesses.“ The Department of Justice (DOJ) unsealed two cases this month filed against fraud networks that make…

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Federal Reserve Expects to Cut Rates in New Year

Central bank officials kept the current rate steady in the final meeting of 2023. The Federal Reserve concluded its final quarterly meeting this month, holding interest rates steady…

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Bank CEOs to Testify Before Senate Committee

The banking committee chair believes updated regulations are necessary. The CEOs of America’s largest banks are scheduled to testify before the Senate Banking Committee on Wednesday, prepared to…

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Senators Seek to Strengthen AI Federal Guidance

New bipartisan legislation would codify safety standards for federal agencies. Senator Mark Warner of Virginia and Senator Jerry Moran of Kansas introduced a bill this week that would…

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Senator Sends Letter to Federal Reserve Chair

Requests the central bank move quicker in reducing assets. Senator Rick Scott of Florida wrote another letter to Federal Reserve Chair Jerome Powell on Wednesday, asking why their…

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Treasury Secretary Speaks at Annual Freedman’s Bank Forum

Attendees seek solutions to eliminate discrimination in banking, housing, and lending. The Department of the Treasury hosted the 2023 Freedman’s Bank Forum last week. The gathering included state…

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DOJ Secures $107 Million for Redlining Relief

Offers compensation for communities of color that have experienced discrimination by mortgage lending. The U.S. Department of Justice has investigated allegations of discrimination by banks and lending companies…

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