FEDERAL GOVERNMENT RELATIONS
Republican lawmakers urge Trump officials to preserve CDFI Fund
More than 100 Republican lawmakers have signed a letter requesting the Trump administration continue to carry out the statutory obligations of the Community Development Financial Institution Fund, which administration officials have proposed eliminating.
Fed’s Waller proposes creating ‘skinny’ master account for payment services
Federal Reserve Governor Christopher Waller proposed the creation of a “skinny” master account for payment services that would be easier to obtain than a regular master account but would come without the latter’s “bells and whistles.”
Senators propose raising BSA reporting thresholds
A proposed Senate bill would raise the reporting thresholds for currency transaction reports and suspicious activity reports and require the Treasury Department to adjust the amounts for inflation every five years.
OCC’s Gould outlines agency actions to aid community banking
Comptroller of the Currency Jonathan Gould said his focus as a banking regulator is to correct the regulatory overreach that has taken place since the 2008 financial crisis, particularly for the community bank sector.
Sen. Budd calls for federal preemption of AI regulation
As banks expand their deployment of artificial intelligence tools, Sen. Ted Budd, R-N.C., called for federal regulation to preempt state laws on AI use.