Supreme Court Finds New York City May Not Make RICO Claims in Internet Sales Tax Case

The U.S. Supreme Court Jan. 25 found that New York City could not assert civil tax claims under the Racketeer Influenced and Corrupt Organizations Act against out-of-state vendors who allegedly sold…

IRS Criminal Investigations Unit’s Major Focus Will Be in International Arena, Unit Chief Says

SAN ANTONIO—The Internal Revenue Service’s most significant criminal focus will be in the international arena going forward, IRS Chief of Criminal Investigations Victor Song said Jan. 23…

Obama to Propose Tax Credits, IRA Reforms to Aid Middle Class in State of Union Speech

President Obama Jan. 25 previewed a series of legislative proposals that he intends to include in his Jan. 27 State of the Union address and fiscal year 2011 budget, including…

FDIC, Bank of England Sign MOU on Bank Resolution, Planning Cooperation

The Federal Deposit Insurance Corporation and the Bank of England have signed a memorandum of understanding on expanded cooperation when the two bodies act…

Regulators Issue Final Risk-Based Capital Rule Relating to FASB’s New Accounting Standards

Federal bank regulators Jan. 21 issued the final risk-based capital rule related to the Financial Accounting Standards Boards’ new accounting standards that make…

2010 OUTLOOK — INTERNATIONAL BANKING: Financial Crisis, Cybercrime Push Cross-Border Harmonization Effort

Increasing international pressure to harmonize regulation will be one of the thorniest issues to face bank regulators in the coming year. Even before the current world financial crisis, experts…

2010 OUTLOOK — FINANCIAL REGULATION: Three Days of Political Upheaval Jolt Outlook for Financial Regulatory Reform

Back-to-back bombshells from a special Senate election and a new White House initiative could complicate an already shaky timeline for legislative efforts to overhaul U.S. financial…