Advocacy News

E-News 5-1-26 FEDERAL GOVERNMENT RELATIONS CFPB publishes 1071 final rule with key community bank exemptions The Consumer Financial Protection Bureau published a final rule to implement Section 1071 small-business reporting requirements that includes strong community bank exemptions. Aligning with repeated calls from industry advocates for policymakers to exempt community banks from the data collection requirements, the final rule: Exempts institutions that originate fewer than 1,000 covered small-business loans per year. Defines small businesses as those having gross annual revenues of $1...
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E-News 4-24-26 FEDERAL GOVERNMENT RELATIONS CFPB’s 1071 final rule expected soon The Consumer Financial Protection Bureau’s final rule to implement Section 1071 of the Dodd-Frank Act could be released any day now. A recent CFPB filing shows the rule is now with the Office of Management and Budget’s Office of Information and Regulatory Affairs, which means its release is expected soon. Section 1071 requires lenders to collect and report data on credit applicants, including the race, sex and ethnicity of the principal owners as well as gross annual revenue. In 2025, the CFPB proposed a new rule to...
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E-News 4-17-26 STATE GOVERNMENT RELATIONS Opinion: When scammers lose, Hoosiers win Fraud is a growing problem, from tech support scams to romance scams and identity theft, but education, smart policy and strong advocacy can make a real difference in our communities. AARP Indiana points to the example of House Enrolled Act 1116, which banned Virtual Currency Kiosks after they became a favorite tool of criminals to steal thousands from Hoosiers, especially older adults.  Read more from the Indiana Capital Chronicle Proxy advisory company sues Rokita in effort to halt new state law...
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E-News 4-10-26 FEDERAL GOVERNMENT RELATIONS FinCEN, banking agencies propose to overhaul Bank Secrecy Act compliance FinCEN and the banking agencies proposed new rules to “fundamentally reform” compliance with the Bank Secrecy Act by setting standards for what financial institutions should include in their anti-money laundering programs.  Read more White House report downplays risk to banks from stablecoin interest payments A prohibition on paying interest or yield on payment stablecoins would do “very little” to protect bank lending “while forgoing the consumer benefits of competitive...
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