Corruption, Cybercrime Top List of U.S. Anti-Money-Laundering Concerns
Dylan Tokar, The Wall Street Journal
The U.S. Treasury Department on Wednesday issued a wide-ranging set of national anti-money-laundering priorities, naming corruption and cybercrime among the areas where financial institutions should focus their compliance resources. The list is the first created by the Treasury’s Financial Crimes Enforcement Network, or FinCEN, following a major overhaul of U.S. anti-money-laundering laws in January.
A third infrastructure bill cruises into Dems’ ‘two-track’ traffic jam
Sarah Ferris and Sam Mintz, Politico
House Democrats this week are taking an early victory lap for their massive infrastructure bill that would spend hundreds of billions on roads, bridges, transit and rail. No, not the one you’re thinking of.
Wall Street powers through the first half of 2021 with U.S. stocks at record highs
Hamza Shaban, The Washington Post
Wall Street wrapped up the first half of 2021 at record highs, with investors defying pessimistic projections of a broader pullback and pushing past concerns of rising inflation and potential rate hikes. The Dow Jones industrial average advanced more than 210.22 points, or 0.6 percent, to close at 34,502.51 on Wednesday.
White House Spotlights Failing Infrastructure to Pressure GOP
Jennifer Epstein, Bloomberg
President Joe Biden’s team is intensifying its pressure on Republicans opposed to a bipartisan infrastructure agreement by spotlighting crumbling roads and bridges on a state-by-state basis that the funding could be used to rebuild. Local fact sheets, being released on Thursday, also highlight states’ needs for improving water quality and expanding broadband internet.
U.S., Taiwan Revive Trade Talks, With Pledge to Combat Forced Labor
Josh Zumbrun and Chao Deng, The Wall Street Journal
The U.S. and Taiwan revived dormant trade and investment talks and pledged to keep supply chains free from forced labor, in a dig at China, which has objected to the negotiations. The trade talks, held by videoconference on Wednesday, were the first between the U.S. and Taiwan since 2016, and the delegations said they would work together “as democratic partners in support of a worker-centered trade policy.”
Lawmakers debate bill mandating racial equity audits at firms
Abigail Goldber-Zelizer, The Hill
House lawmakers on Tuesday debated legislation that would require banks to conduct racial equity audits every two years in an effort to promote diversity and equity. At a hearing hosted by the House Financial Services Subcommittee on Diversity and Inclusion, members discussed the Diversity and Inclusion Data Accountability and Transparency Act, sponsored by Congressional Black Caucus chair Rep. Joyce Beatty (D-Ohio).
Top Trump Executive Allen Weisselberg Surrenders to Face Charges
Ben Protess et al., The New York Times
Donald J. Trump’s long-serving chief financial officer, Allen H. Weisselberg, surrendered on Thursday to the Manhattan district attorney’s office as he and the Trump Organization prepared to face charges in connection with a tax investigation, people with knowledge of the matter said. The exact charges were not yet known.