Advocacy News

E-News 6-14-24 FEDERAL GOVERNMENT RELATIONS CFPB’s Chopra: Credit Unions Should be Subject to CRA Scrutiny There should be a “level playing field” when it comes to credit unions being subject to Community Reinvestment Act requirements, Consumer Financial Protection Bureau Director Rohit Chopra said Thursday during a hearing of the House Financial Services Committee. The federal government currently does not include credit unions in the CRA, though several states impose CRA-like regulations on those institutions (the CFPB issued a summary of state-level CRA laws last fall).  Chopra, who was...
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E-News 6-7-24 FEDERAL GOVERNMENT RELATIONS Treasury Department Seeks Comment on AI Use in Financial Services The Treasury Department Thursday issued a request for information on the use of artificial intelligence in the financial services sector. Specifically, the department is seeking public input on the current use of AI by financial institutions and other actors in the sector. It is also seeking comment on the opportunities and risks presented by developments and applications of the technology.  ‌ The request was released the same day the Financial Stability Oversight Council and Brookings...
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E-News 5-31-24 STATE GOVERNMENT RELATIONS Applications for New Homes Rise for 10th Straight Month in Central Indiana The Indianapolis-area homebuilding industry continued to see rising new-home activity in April, with residential construction applications increasing 37% on a year-over-year basis.  Read more       BSU Study Shows $1.6B Impact from State's $122M Regional Cities Program According to a news release, a study from Ball State University's Center for Business and Economic Research points to successful projects across the state, showcasing how regional...
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E-News 5-24-24 FEDERAL GOVERNMENT RELATIONS CFPB Pushes Back Section 1071 Compliance Deadlines The Consumer Financial Protection Bureau last Friday announced that it had pushed back by several months the compliance deadlines for its Section 1071 small-business data collection rule in response to litigation.  ‌ The compliance deadline for Tier 1 institutions is now July 18, 2025, with the first filing deadline on June 1, 2026. The compliance deadline for Tier 2 institutions is Jan. 16, 2026, with the first filing deadline June 1, 2027. The compliance deadline for Tier 3 institutions is Oct. 18...
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