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Yellen refuses to back banking agencies' Basel play

American Banker

Treasury Secretary Janet Yellen repeatedly demurred when invited to expound on the Basel III capital proposal, but didn't hold back her criticisms of the Securities and Exchange Commission's safeguarding rule and its consequences for banks' custody businesses.

Capital 62
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Yellen Touts PPP Changes to Target Small Businesses

ABA Community Banking

Testifying before the House Financial Services Committee today, Treasury Secretary Janet Yellen highlighted recent changes to the Small Business Administration's Paycheck Protection Program that will allow more small businesses, especially in rural and low income areas, access to the funds.

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Retailers Reconsider Big Moves Amid Economic Uncertainty

PYMNTS

Hunter said, according to CNBC, that it will be “very hard for businesses to keep expanding.” The news comes as Former Federal Reserve Chair Janet Yellen says that signs are pointing to a slowdown in business spending this year. At National Retail Federation’s Big Show in New York on Monday (Jan.

Retail 116
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Yellen Supports PPP Extension; Economic Recovery Progressing ‘Quickly,’ Powell Says

ABA Community Banking

Testifying before the Senate Banking Committee today Treasury Secretary Janet Yellen told the committee that she supports an extension of the Small Business Administration's Paycheck Protection Program, saying that "the economy is not in a place where small businesses that have been affected are able to thrive.".

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FinCEN Issues ANPR to address residential real estate money laundering

Abrigo

Treasury Secretary Janet Yellen said in  March 2023 that illicit actors  laundered at least $2.3 It is no secret that criminals use real estate to clean money derived from illegal proceeds; it’s one of the oldest forms of money laundering. However, the subjective nature of real estate pricing makes for easily manipulated transactions.

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US Businesses Tap The Brakes On Spending

PYMNTS

Economic uncertainty and fear of the unknown have prompted big businesses to pull the plug on investments and reduce spending, The Wall Street Journal (WSJ) reported Sunday (Nov. business activity is starting to show signs of rebounding as global economies slow down, a Nov. The index measures “activity in businesses.”

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Yellen’s crackdown on leveraged loan excess will have to wait

American Banker

Time and again, Janet Yellen has warned Wall Street is piling a dangerous amount of debt onto the balance sheets of risky U.S. businesses. But as she prepares to take over as Treasury secretary, she may find it difficult to do anything quickly to rein in these markets, experts say.