Advocacy News

E-News 6-28-24 STATE GOVERNMENT RELATIONS State Treasurer Places BlackRock on ESG Watchlist Indiana State Treasurer Daniel Elliott has placed BlackRock Inc. on a watchlist after claiming that the investment firm made an environmental, social and governance (ESG) commitment. New York City-based BlackRock is the world's largest asset manager and a leading investment, advisory and risk-management service provider. It is the first company to be placed on the watchlist, and the treasurer's office is examining others. The Indiana Public Retirement System (INPRS) and its board can take further action,...
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E-News 6-21-24 FEDERAL GOVERNMENT RELATIONS FDIC Board to Review Pending Bank Merger Applications After Nine Months The Federal Deposit Insurance Corp. board Wednesday unanimously adopted a resolution to require that agency staff update the board on pending bank merger and deposit insurance applications that have been outstanding for 270 days, or roughly nine months. The resolution was brought by Travis Hill, who noted that the number of merger applications still under review after 270 days has steadily grown in recent years. ‌ “A long application review process is costly for a variety of reasons,”...
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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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