Advocacy News

E-News 10-23-26 FEDERAL GOVERNMENT RELATIONS Studies gauge fraud costs for banks, financial services Every $1 of fraud now costs U.S. financial services firms $5.47, up from $4 in 2021, according to new research by LexisNexis. At the same time, a separate study by PYMNTS.com found that U.S. financial institutions now spend more than $2 to stop every $1 lost to fraud.  Read more OCC finalizes stablecoin rule with narrow payment-of-interest prohibition The Office of the Comptroller of the Currency finalized a rule to enforce the GENIUS Act with a narrower prohibition on payment-of-...
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E-News 10-16-26 FEDERAL GOVERNMENT RELATIONS Illinois to appeal interchange ruling The Illinois Attorney General’s Office plans to appeal a court injunction preventing the state from enforcing the Illinois Fee Prohibition Act against certain financial institutions, according to a court filing.  Read more FHA formalizes use of alternative credit scoring models The Federal Housing Administration published a mortgagee letter to formalize the use of VantageScore 4.0 and FICO Score 10T alongside Classic FICO to assess the creditworthiness of single-family mortgages, with the new policy...
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E-News 10-9-26 FEDERAL GOVERNMENT RELATIONS FOMC minutes show another rate increase possible Most members of the Federal Open Market Committee believe they may need to raise the target range for the federal funds rate a second time before the end of the year, although that decision will depend on further information, according to minutes from the FOMC’s most recent meeting.  Read more Fed to split bank supervision into five regions The Fed will divide its bank supervision into five geographic regions rather than splitting it among the 12 Reserve Bank districts, Vice Chair for...
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E-News 10-2-26 STATE GOVERNMENT RELATIONS Lawmakers present framework for local property tax relief Senior Indiana lawmakers Sen. Ryan Mishler, R-Mishawaka; Sen. Chris Garten, R-Charlestown; and Rep. Craig Snow, R-Winona Lake, outlined a proposal at a Sept. 29 meeting in Warsaw that would allow counties to use local income tax revenue to provide a 100% property tax credit for owner-occupied homes over a five-year period. Mishler said the approach would not eliminate property taxes because they are needed to support local debt obligations, but homeowners receiving the full credit would owe no property...
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