STATE GOVERNMENT RELATIONS
Indiana legislative session underway
The Indiana House and Senate reconvened Monday afternoon for the first time in 2026, resuming the legislative session that formally began in December. Legislative leaders have indicated the session is operating on a compressed timeline due to two weeks of meetings held in December. The Indiana General Assembly is expected to adjourn at the end of February. The IBA has been monitoring legislation moving this session; members are encouraged to reach out to Dax Denton or Connor Wong for additional information.
Boonville bank sues over PDIF
Boonville Federal Savings Bank sued the Indiana Board for Depositories in December over the Public Deposit Insurance Fund claiming that it has held too much money and should return some of its funds back to its insured institutions. The PDIF was established in 1937 in response to the Great Depression to insure taxpayer money beyond the limits of Federal Deposit Insurance Corp. insurance. Similar to the FDIC, insured institutions paid assessments into the PDIF, though no assessment has been levied since 1985 when it was determined to have enough money in it to ensure the security of public deposits. Since that time, those funds have been invested to grow alongside the value of public deposits in Indiana financial institutions. At its Oct. 15, 2025, meeting, the Board for Depositories received the results of an analysis conducted by Ball State confirming the PDIF remains actuarily sufficient.
FEDERAL GOVERNMENT RELATIONS
Scott: Senate Banking Committee to vote on market structure bill next week
The Senate Banking Committee will vote Thursday, Jan. 15, on a market structure bill to establish a regulatory framework for cryptocurrencies.
House Republicans propose bill to overhaul community bank regulation
Republicans on the House Financial Services Committee unveiled a new bill they said would boost community banking by promoting de novo bank formation, raising regulatory thresholds and revising agency regulatory and supervisory practices.
Bowman: Fed reviewing supervisory information-sharing rules
The Federal Reserve is reviewing its rules under which “confidential supervisory information” can be shared to help banks better coordinate fraud prevention efforts and mitigate the potential for supervisory abuse, Vice Chair for Supervision Michelle Bowman said.
CFPB issues report on credit card market
Purchase volume on consumer credit cards increased to $3.6 trillion in 2024, up from $3.2 trillion two years prior, according to the Consumer Financial Protection Bureau’s recently released report on the credit card market.
Treasury announces increased oversight of CDFI Fund, award recipients
The Treasury Department will require the CDFI Fund to modify its New Market Tax Credits program allocations to ensure compliance with federal anti-discrimination laws, and it will increase monitoring of award recipients, according to a recent announcement.
Treasury announces US exemption from global minimum business tax
U.S.-based multinational companies will be exempt from the OECD Pillar Two global minimum tax framework under a new international agreement announced by the Treasury Department.