The US Environmental Protection Agency released a statement Thursday accusing Fiat Chrysler Automobiles (FCA) of installing and failing to disclose engine software that lead to increased emission of nitrogen oxides in roughly 104,000 diesel-powered vehicles. The affected vehicles include Jeep Grand Cherokees and Dodge Ram 1500 trucks from model years 2014 to 2016. Cynthia Giles [...]

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US President Barack Obama said on Thursday that he is ending the “wet-foot, dry-foot” policy , which automatically allowed Cuban migrants to stay in the US. This repeal will be effective immediately. Obama said Cuban migrants will now be treated “the same way we treat migrants from other countries.” The Cuban government has agreed to [...]

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The US House of Representatives approved the SEC Regulatory Accountability Act on Thursday, which requires the Securities and Exchange Commission to perform a cost-benefit analysis before implementing any new regulations. According to the summary of the bill, the SEC “shall consider impact on investor choice, market liquidity, and small businesses” in performing the analysis. The [...]

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The Bank of New York Mellon Corp. agreed to pay $6.6 million to resolve charges from the Securities and Exchange Commission (SEC) on Thursday. The civil chargers were filed after the bank miscalculated its risk-based capital ratio. The SEC claims that BNY Mellon excluded approximately $14 billion in collateralized loan obligation assets from its calculations. [...]

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