Advocacy News

E-News 8-11-23 STATE GOVERNMENT RELATIONS IHCDA Annual Report Shows Increased Interest in Homeownership Program The Indiana Housing & Community Development Authority (IHCDA) recently released its annual report. The organization's Homeownership Program, which provides certain Hoosiers with up to 6% down payment assistance, helped 2,678 homebuyers compared to 2,539 the year prior, providing an average down payment assistance of $9,675, up from $7,680 in 2021, according to the report. Read the report     FEDERAL GOVERNMENT RELATIONS Democratic Senators Urge Fed to Review Bank...
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E-News 8-4-23 FEDERAL GOVERNMENT RELATIONS Federal Judge Delays Section 1071 Compliance Dates A federal judge in Texas issued an order Monday blocking enforcement of the Consumer Financial Protection Bureau's Section 1071 final rule while the Supreme Court hears a challenge to the constitutionality of the CFPB's funding structure. The injunction came at the request of the American Bankers Association, the Texas Bankers Association, and McAllen, Texas-based Rio Bank, in litigation brought challenging the Section 1071 rule. While the judge granted ABA and TBA's request for an injunction, the judge...
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E-News 7-28-23 FEDERAL GOVERNMENT RELATIONS Banking Regulators Propose New Capital Requirements On Thursday the Federal Deposit Insurance Corp., Federal Reserve and Office of the Comptroller of the Currency proposed new capital requirements for banks with more than $100 billion in assets. The proposal would implement the so-called "Basel III endgame" standards while eliminating the practice of relying on banks’ internal risk models. If implemented, the new rules would go into effect over three years starting on July 1, 2025. Public comments on the proposal are due Nov. 30. The proposed rulemaking...
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E-News 7-21-23 FEDERAL GOVERNMENT RELATIONS Federal Reserve Launches FedNow Service The Federal Reserve officially launched its FedNow service for instant payments on Thursday. The agency said that banks of all sizes can sign up and use the tool to instantly transfer money for their customers at any time of day. As an interbank payment system, FedNow will operate alongside other Fed payment services such as Fedwire and FedACH. The Fed previously announced that more than 50 early adopters would be able to use FedNow on launch, including 16 service providers that support payment processing for banks...
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