American Banker
Mike SP
Regulation
December 4, 2025
The Government Accountability Office will investigate whether Federal Housing Finance Agency Director Bill Pulte improperly accessed and/or disseminated mortgage application information related to prominent Democrats, agreeing to the investigation at the request of eight Senate Democrats; The Department of Justice seized a Myanmar-based website domain Thursday linked to a transnational organized money laundering syndicate that used cryptocurrency to launder money stolen through so-called "pig butchering" confidence scams; A provision in a bill to reopen the government would sunset a 2018 Farm Bill measure that effectively legalized hemp-derived TCH next year, putting pressure on banks that lend to hemp-based businesses and putting cannabis banking progress further out of reach; and more in today's newsletter.
The Government Accountability Office has agreed to investigate Federal Housing Finance Agency Director Bill Pulte for allegations of misuse of power and violations of federal privacy laws
While banks welcome the "whole-of-government" approach that led the effort, private sector takedowns remain difficult without federal warrants.
Congress' recent ban on nearly all forms of intoxicating hemp products signals a sharp political turn away from rescheduling, making the prospects for cannabis banking reform even more dim than they already were.
What is a dollar? Noelle Acheson highlights how stablecoins are underlining the ways in which the absence of an official definition can have geopolitical and macroeconomic consequences.
Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.