Advocacy News

E-News 12-20-24 STATE GOVERNMENT RELATIONS Forecast of slow revenue growth leaves fiscal leaders cautious A new state tax revenue forecast presented to the State Budget Committee highlights a constrained fiscal outlook for legislators preparing the upcoming two-year budget. The forecast anticipates tax collections rising by $732 million, or 3.3%, during the first year of the biennium. However, growth is expected to slow significantly in the second year, with only a $71 million increase, representing just 0.3%. These modest projections suggest lawmakers may have limited additional revenue to allocate...
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E-News 12-13-24 FEDERAL GOVERNMENT RELATIONS CFPB issues final rule capping overdraft fees The Consumer Financial Protection Bureau issued a final rule on overdraft services that will cap fees at banks and credit unions with more than $10 billion in assets. The CFPB said the rule – which is scheduled to take effect on Oct. 1, 2025 – will impose three options for covered banks to manage their overdraft lending programs: Cap their overdraft fee at $5. Charge a fee that covers no more than costs or losses. Extend overdraft services by treating them as extensions of credit and complying with...
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E-News 12-6-24 FEDERAL GOVERNMENT RELATIONS Federal court blocks enforcement of beneficial ownership reporting rule  Less than a month before a Jan. 1 deadline for businesses to report their beneficial owners to FinCEN, a federal judge has issued a preliminary injunction blocking enforcement of the requirement. The injunction applies to all businesses nationwide.   Read more Federal Reserve expands check fraud detection tool to include commercial checks  Federal Reserve Financial Services recently announced the expansion of FedDetect Duplicate Notification for Check...
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E-News 11-27-24 STATE GOVERNMENT RELATIONS Top Lawmakers to Local Officials: Prepare to Vote on Tax Hikes Major fiscal issues expected to dominate the upcoming legislative session include a property tax overhaul sought by Governor-elect Mike Braun that could cut hundreds of millions in revenue to cities, counties and school districts.  Read more from State Affairs Crouch Announces Investment in Affordable Housing Lt. Gov. Suzanne Crouch and the Indiana Housing and Community Development Authority announced recipients of the 2025 Low-Income Housing Tax Credit program and Multifamily Bonds...
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