The Independent Community Bankers of America had initially called for a moratorium in response to SoFi's application, and says now that Square's bid "has significantly increased our concerns."
The bill would create a federal obligation for credit reporting agencies to offer free credit freezes and prevent them from selling consumer information while a freeze is in place.
The legislation introduced by Reps. Jared Polis, D-Colo., and David Schweikert, R-Ariz., would allow cryptocurrency users to make transactions of up to $600 without paying taxes.
The changes to the National Multistate Licensing System will include a more customized user experience for companies and functionality for states to share examination data.
The largest generation of Americans is set to inherit over $59 trillion in assets, but the federal financial regulators are behind in hiring millennials and focusing on issues of concern to them.
The San Francisco bank is embroiled in a high-stakes legal battle over the use of arbitration in disputes involving overdraft fees at the same time that adversaries are portraying the scandal-plagued bank as the poster child for why reform is necessary.
Acting Comptroller of the Currency Keith Noreika is using his short time in office to open a debate about the separation of banking and commerce, which he says is anti-competitive, stifles diversification and may limit regulators' options in times of crisis.
