| Fed’s Bowman doubts benefit of CBDC |
| In a speech at the Georgetown University McDonough School of Business Psaros Center for Financial Markets and Policy, Federal Reserve Governor Michelle Bowman discussed the topic of a U.S.-produced central bank digital currency (CBDC). Though she acknowledged some benefits to a U.S. CBDC, Bowman expressed skepticism towards the concept.
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| Wells Fargo to pay another billion-dollar settlement |
| Wells Fargo entered into a preliminary settlement agreement with shareholders as part of a class action lawsuit related to misleading information Wells Fargo provided regarding its response to the creation of fake accounts – which was made public in 2016 – and resulted in nearly $200 million in fines from regulators.
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| Digital marketing compliance experts offer insights |
| Even though the Consumer Financial Protection Bureau has not issued a RESPA-related enforcement action recently, that does not mean it is not on the bureau’s radar. With its advisory opinion on digital comparison shopping platforms in February, servicers may be left with questions about how to comply with RESPA’s requirements while also maximizing consumer reach and drive production. Franzén & Salzano President Loretta Salzano and Firstline Compliance, LLC Vice President Jerra Ryan are experts who can clarify some uncertainties.
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| Biden announces nominees to Fed board |
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Department of Housing and Urban Development Secretary Marcia Fudge hosted the department’s first Tribal Intergovernmental Advisory Committee meeting to discuss housing needs and challenges in tribal nations.President Joe Biden announced his nominees to the Federal Reserve Board of Governors, including one promotion to vice chair, a renomination, and the filling of a vacancy left by former Fed Gov. Lael Brainard who now serves as director of the National Economic Council. |
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