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News
SDBA UpdatesSDBA EventsOnline EducationCompliance AllianceABA Banking Journal: Senate tax measure contains provisions on ACRE, pass-through business deduction
The House last month passed a budget package that contained significant changes in tax policy sought by the Republican majority. The Senate Finance Committee text retains many of those provisions but with substantial tweaks in several cases. If the committee text clears the Senate, the two chambers must agree on a compromise budget package before it can be signed into law. Among the provisions:
Back to TopABA Banking Journal: Stablecoin bill clears Senate
The GENIUS Act (S. 1582) would establish procedures for institutions seeking licenses to issue stablecoins and establish regulatory standards for stablecoin issuers. The legislation received bipartisan support, but two proposed amendments threatened to derail the bill. The first by Sen. Roger Marshall (R-Kan.) would have added the routing mandates in the Credit Card Competition Act to the legislation. The second by Sen. Josh Hawley (D-Mo.) would have capped credit card interest rates at 10%. The American Bankers Association opposed both amendments, which were not adopted. The GENIUS Act next heads to the House. In a statement, ABA President and CEO Rob Nichols said the association appreciates the Senate’s effort to create a rigorous regulatory framework around stablecoin, a goal the banking industry supports. ABA also appreciates the key improvements made to the bill by Senate Banking Committee Chairman Tim Scott (R-S.C.), Sen. Bill Hagerty (R-Tenn.) and the legislation’s bipartisan co-sponsors, he added. “We will continue to work with lawmakers to pursue a final stablecoin bill that embraces innovation without undermining our nation’s resilient and trusted financial system and the critical role banks play in the economy,” Nichols said. Back to TopABA: Protect Older Adults from Financial ExploitationJune 15 was World Elder Abuse Awareness Day, a global event that raises awareness about elder abuse, including financial exploitation. It’s a reminder to take action in protecting older adults in our communities. The ABA Foundation offers a variety of free resources to help banks protect older customers and prevent financial harm:
Explore these and other ABA resources CISA News: SentinelOne shares new details on China-linked breach attemptJune 9, 2025 | Bill Toulas
SentinelOne has shared more details on an attempted supply chain attack by Chinese hackers through an IT services and logistics firm that manages hardware logistics for the cybersecurity firm. SentinelOne is an American endpoint protection (EDR/XDR) solutions provider that protects critical infrastructure in the country and numerous large enterprises. It is a high-value target for state actors as compromising could serve as a springboard to accessing downstream corporate networks and gaining insight into detection capabilities to develop evasion methods.
The targets include organizations in government, telecommunications, media, finance, manufacturing, research, and IT sectors. The campaign is separated into two clusters. The first is 'PurpleHaze,' attributed to APT15 and UNC5174, covering a timeframe between September and October 2024. SentinelOne was targeted by both clusters, once for reconnaissance and once for supply chain intrusion. "We suspect that the most common initial access vector involved the exploitation of Check Point gateway devices, consistent with previous research on this topic," reports SentinelLabs. "We also observed communication to ShadowPad C2 servers originating from Fortinet Fortigate, Microsoft IIS, SonicWall, and CrushFTP servers, suggesting potential exploitation of these systems as well." PurpleHaze and ShadowPad campaignsThe PurpleHaze attack wave attempted to breach SentinelOne in October 2024, where threat actors conducted scans on the company's internet-exposed servers over port 443, looking to map accessible services. The threat actors registered domains masquerading as SentinelOne infrastructure, such as sentinelxdr[.]us and secmailbox[.]us. Based on evidence from other targets, including a South Asian government, successful attacks used the GOREshell backdoor, which was dropped on network-exposed endpoints using zero-day exploits. The more recent activity cluster is 'ShadowPad,' conducted by APT41 between June 2024 and March 2025. The threat actors attempted what is believed to be a supply chain attack on SentinelOne in early 2025, where APT41 used the ShadowPad malware, obfuscated via ScatterBrain, against an IT services and logistics company working with the cybersecurity company. The attackers delivered the malware to the target via PowerShell, which used a 60-second delay to evade sandbox environments. The malware then scheduled a system reboot after 30 minutes to clear traces in memory. Next, the hackers deployed the open-source remote access framework 'Nimbo-C2' to provide a wide range of remote capabilities, including screenshot capturing, PowerShell command execution, file operations, UAC bypass, and more. The attackers also used a PowerShell-based exfiltration script that performs a recursive search for sensitive user documents, archives them in a password-locked 7-Zip archive, and exfiltrates them.
SentinelOne comments that the threat actors' goals remain unclear, but a supply chain compromise is the most likely scenario. The cybersecurity company thoroughly examined its assets and reported that no compromise had been detected on SentinelOne software or hardware. "This post highlights the persistent threat posed by China-nexus cyberespionage actors to a wide range of industries and public sector organizations, including cybersecurity vendors themselves," concludes SentinelOne. "The activities detailed in this research reflect the strong interest these actors have in the very organizations tasked with defending digital infrastructure." Back to Top |
The Senate Finance Committee this week released 
The Senate today voted 68-30 in favor of legislation to establish a regulatory framework for payment stablecoins, with proposed amendments to establish routing mandates and interest rate caps for credit cards left out of the final bill.
SentinelLabs 
