Joe Mont was an award-winning journalist for nearly 25 years in the Greater Boston area. He previously covered business and personal finance for TheStreet.com, was editor in chief of the Bulletin Newspapers chain of publications, was co-publisher and editor of Cigar Lifestyles Magazine, and had been a frequent guest on radio stations throughout the country.
Fed wants real-time payments, settlements
The Federal Reserve is making an effort to develop a round-the-clock real-time payment and settlement service.
Epstein lesson: Ignored compliance advice a red flag
The Jeffrey Epstein scandal serves up a cautionary lesson for those who work for companies that put profits over ethics.
FDIC details credit and market risks
The Federal Deposit Insurance Corporation this week published its 2019 Risk Review, an annual publication highlighting emerging risks and exposures that could affect the banking system in the months ahead.
CFPB pitches mortgage rule change
The Consumer Financial Protection Bureau has issued a notice seeking information on the expiration of temporary qualified mortgage provisions.
AG Barr rides Facebook woes to tout antitrust review of Big Tech
As tech companies grow to dominance, do they pose a competitive hardship to rivals left in their wake? The Justice Department wants to know.
Facebook settlement was barely worth waiting for
The compliance aspects of what will be expected of Facebook going forward were fair enough, but a lack of personal liability has us questioning the settlement.
Warren’s next battleground: private equity firms
Under newly filed legislation, The Stop Wall Street Looting Act, firms would share responsibility for the liabilities of companies under their control, including debt, legal judgments, and pension obligations.
Congress debates: Are tech giants bullies or saviors?
Amazon, Google, Facebook, and Apple were called before Congress this week to debate what critics perceive as the anti-competitive, entrepreneur-chilling effects they trigger with their size and scope.
Google, Amazon fire back: Rising tide lifts all boats
A common refrain—and effective defense—from tech companies at the House Judiciary hearing this week was that rather than stifling competition, their size and scope is responsible for a tide that raises all boats in their wake.
Congress, Treasury take swings at Facebook’s Libra plan
A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.
FTC looks worryingly timid in staying silent on Facebook
The FTC, by dragging its feet and keeping silent on a massive Facebook fine, raises concerns about its potential role as top cop on the data privacy beat.
Quality compliance can now earn antitrust leniency
A Justice Department policy change–to evaluate corporate compliance programs as a potential leniency factor on antitrust cases–has come to fruition through announcements made this week.
After another arrogant move, Facebook needs to be put in check
The social media company is hardly quiet about its crypto initiative, but nevertheless failed to see the materiality of creating a global payments system.
Fed Chair urges caution with Facebook virtual currency venture
Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.
SEC’s Clayton emphatically defends Reg. BI
SEC Chairman Jay Clayton, speaking to an audience of financial professionals in Boston, vigorously defended Regulation Best Interest and came out swinging against critics.
Warren, Dems seek mandatory climate disclosures
Senator Elizabeth Warren (D-Mass.) has reintroduced the Climate Risk Disclosure Act, legislation that would require public companies to disclose their exposure to climate-related risks.
Agencies exclude community banks from the Volcker Rule
Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.
Florida man sentenced for role in collapse of Puerto Rico bank
The CEO of a now-bankrupt pharmaceutical company was sentenced to 30 years in prison for his role in a $100 million plot that triggered Westernbank of Puerto Rico’s collapse.
Marriott reveals $124M GDPR fine for data breach
Marriott has disclosed in a filing with the SEC that the U.K.’s Information Commissioner’s Office intends to fine it roughly £99 million (U.S. $124 million) for infringements of the EU’s GDPR.
SEC shores up details on ‘short-termism’ roundtable
An upcoming SEC roundtable on July 18 will seek to identify potential market practices and regulatory changes that could encourage increased long-term strategies and investments.