STATE GOVERNMENT RELATIONS
Indiana Senate Republicans reject redistricting push; won't convene in December
Indiana Senate Republicans announced they will not reconvene in December for a special session on congressional redistricting, citing insufficient votes to move forward. The decision follows calls from President Trump and Gov. Mike Braun for lawmakers to redraw the state’s U.S. House map ahead of the 2026 election cycle. The canceled session also delays planned updates to Indiana’s tax code that were tied to the proposed special session. The announcement prompted statements from state officials and political groups responding to the decision. The state legislature will reconvene on Jan. 5 for a regular session.
FEDERAL GOVERNMENT RELATIONS
IRS releases new guidance on ACRE tax breaks
The IRS released a 13-page document Thursday with guidance on a new tax break that can benefit banks financing rural or agricultural real property, commonly referred to as ACRE.
FDIC considering tokenized deposit insurance guidance, stablecoin issuer rules
The Federal Deposit Insurance Corp. is considering guidance on tokenized deposit insurance for banks that want to explore the option, and the agency plans to issue a proposal later this year to establish an application process for stablecoin issuers, FDIC Acting Chairman Travis Hill said.
House lawmakers debate deposit insurance reform
Lawmakers on the House Financial Services Committee heard from bankers and other experts on possible ways to modernize the deposit insurance framework, with committee members offering a variety of perspectives and potential paths.
OCC allows banks to hold crypto to cover related fees
The Office of the Comptroller of the Currency issued an interpretive letter stating that national banks are permitted to hold small amounts of crypto assets, as principal, to pay fees used to cover transaction costs on cryptocurrency networks.
Fed releases new principles for bank supervision
The Federal Reserve released a set of new supervisory operating principles that instructs its bank supervisors to focus on material financial risks rather than “processes, procedures and documentation” that do not pose a threat to a bank’s safety and soundness.
Trump administration rescinds CDFI Fund staff layoffs
The Trump administration has rescinded reduction-in-force notices sent to the employees of the CDFI Fund during the government shutdown.
Trump nominates CFPB director
President Trump has nominated Stuart Levenbach to lead the Consumer Financial Protection Bureau.
Senate Banking Committee advances Hill nomination to be FDIC Chair
The Senate Banking Committee voted to advance the nomination of Travis Hill to be Federal Deposit Insurance Corp. chairman. He is currently acting chairman of the agency.