Advocacy News

E-News 8-15-25 FEDERAL GOVERNMENT RELATIONS Labor Department rescinds guidance on alternative assets in 401(k) plans The Labor Department rescinded a 2021 supplemental statement that discouraged fiduciaries from considering alternative assets in 401(k) retirement plan investment menus. Read more National trade associations: Close payment of interest loophole for stablecoins Five national financial services associations are urging lawmakers to close a legal loophole that may allow for the payment of interest and yield on stablecoins despite a recent prohibition against the practice. Read...
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E-News 8-8-25 FEDERAL GOVERNMENT RELATIONS Trump directs banking agencies to investigate, fix rules that contribute to debanking President Trump issued an executive order that directs federal agencies to investigate whether financial institutions denied services to customers because of their political beliefs or because they were engaged in certain business activities, such as cryptocurrency. Read more Fed officials signal rate cuts amid economic slowdown Federal Reserve officials are expressing concern about a cooling labor market and a slowing economy, with Minneapolis Fed President Neel...
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E-News 8-1-25 FEDERAL GOVERNMENT RELATIONS CFPB says it will rework 1033 rule The Consumer Financial Protection Bureau requested a stay in a lawsuit challenging the 1033 rule on consumer data security and privacy and said it plans to craft a new rule soon. The CFPB filed a stay with the U.S. District Court of Eastern Kentucky and said it “has now decided to initiate a new rulemaking to reconsider the Rule with a view to substantially revising it.” The CFPB in June asked a federal court to vacate its 1033 rule, saying the rule is unlawful because it exceeds the bureau’s statutory authority and is...
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E-News 7-25-25 FEDERAL GOVERNMENT RELATIONS House committee passes industry-backed reg relief bills The House Financial Services Committee passed several industry-supported bills during a two-day markup. The committee voted to advance: The FDIC Board Accountability Act (H.R. 3446) by a 26-23 vote. Introduced by Rep. Bill Huizenga, R-Mich., it would require the appointment of a member of the Federal Deposit Insurance Corp. board of directors with experience in small depository institutions.  The Tailored Regulatory Updates for Supervisory Testing (TRUST) Act of 2025 (H.R. 4478) by a 49-...
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