STATE GOVERNMENT RELATIONS
Indiana legislative session underway
The General Assembly continued legislative discussions this week at the Statehouse, with the compressed schedule driving an unusually fast pace of activity. On Wednesday alone, there were 15 committee meetings – many occurring simultaneously, requiring legislators to move between multiple committees. As a result, several issues were heard without action, setting the stage for an exceptionally busy week ahead. We expect one additional week of committee meetings for the first half of the 2026 session. That would leave one final week for chamber-level discussion, amendments and final votes before the third-reading deadline on January 29, when bills must advance to remain eligible for further consideration.
FEDERAL GOVERNMENT RELATIONS
CFPB, DOJ to withdraw warning on using immigration status to determine creditworthiness
The Consumer Financial Protection Bureau and Department of Justice plan to withdraw 2023 guidance warning financial institutions that they risk violating federal protections against discrimination if they rely on immigration status to determine a consumer’s creditworthiness
Vought requests CFPB funding from Fed
Russell Vought, acting director of the Consumer Financial Protection Bureau, has requested $145 million from the Federal Reserve to fund the Bureau through at least March, according to a recent court filing.
Banking agencies release Shared National Credit Program report
Credit risk associated with large, syndicated bank loans remains moderate, with credit risk trends reflecting the effects of borrowers' ability to manage higher interest expenses and other macroeconomic factors, three banking agencies said in their most recent Shared National Credit Program report.
National trades urge appeals court to reverse debit card interchange fee ruling
A recent court ruling imposing a new interpretation of the Federal Reserve’s standard for setting debit card interchange fees would be “extraordinarily harmful and needlessly disruptive to the diverse set of stakeholders in the debit card market — including consumers and merchants,” according to a court filing by 10 national trade groups, including the American Bankers Association and Independent Community Bankers of America.
Hill sworn in as FDIC chairman
Travis Hill has been sworn in as the 23rd chairman of the Federal Deposit Insurance Corp., the agency announced. He has served as FDIC acting chairman since the beginning of 2025.
Nichols: Credit card rate cap would harm those it is meant to help
While the Trump administration’s concern about affordability is commendable, a proposed 10% cap on credit card interest rates would hurt the very people the president is seeking to help, American Bankers Association President and CEO Rob Nichols told Bloomberg TV.
Senate Banking Committee postpones vote on crypto market structure bill
Senate Banking Committee Chairman Tim Scott, R-S.C., delayed a scheduled committee vote on cryptocurrency market structure legislation. More than 10,000 bankers have sent letters to Senate offices in recent days calling on Congress to use the bill to close the payment of interest loophole, according to the American Bankers Association.