Advocacy News

E-News 11-4-22 FEDERAL GOVERNMENT RELATIONS Fed Raises Rates by Another 75 Basis Points The Federal Open Market Committee announced Wednesday it would raise the target range for the federal funds rate federal funds rate to 3.75-4.00. This is the sixth rate increase and the fourth time the Fed has raised the rate by 75 basis points. FOMC also reiterated that it believes ongoing increases will be necessary to help return inflation closer to its 2% target. The FOMC statement indicated that the committee would continue to monitor the implications of incoming information for the economic outlook and be...
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E-News 10-28-22 STATE GOVERNMENT RELATIONS Indiana Housing Task Force Releases Final Report On Thursday the interim Housing Task Force met to discuss a proposed final report that will be used for consideration when drafting legislation for next session. The Housing Task Force was created by the General Assembly last session to explore ways to encourage and assist in the creation of workforce and affordable housing. The committee met three times this fall, taking testimony from a number of groups, including the IBA. Notable findings included more state funding in the form of loans or grants for...
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E-News 10-21-22 FEDERAL GOVERNMENT RELATIONS State AG Coalition Investigating Bank ESG Practices A coalition of 19 state Attorneys General led by Missouri Attorney General Eric Schmitt launched an investigation this week into six banks over their environmental, social and governance investing practices. The banks implicated in this investigation are Bank of America, Citi, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo. According to the press releases, the attorneys general have issued a series of Civil Investigative Demands (CIDs) requesting documents related to the bank’s decision...
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E-News 10-14-22 FEDERAL GOVERNMENT RELATIONS OCC’s Hsu: Crypto Regs Need ‘Strong Guardrails and Gates’ During a roundtable discussion Tuesday of cryptoassets and international financial systems, Acting Comptroller of the Currency Michael Hsu addressed the OCC's continuing development of an appropriate regulatory framework for crypto. He said that many bankers, regulators and policymakers “have admitted to me that they don’t really understand or trust crypto as it exists today and that they see lots of risk,” but don’t want to get left behind or be perceived as anti-innovation. Likewise, regulatory...
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