STATE GOVERNMENT RELATIONS
Bills to watch:
- Senate Bill 289 - Non-discrimination in employment and education.
- Senate Bill 327 - Marion County Small Claims Court jurisdiction, venue, and fees.
- Senate Bill 346 - Rural business growth.
- House Bill 1001 - State budget.
- House Bill 1081 - Distributions to charitable beneficiaries.
- House Bill 1174 - Charges for supervised loans.
- House Bill 1322 - Blockchain technology, state Investment in Bitcoin.
- House Bill 1441 - Bank accounts for foster children.
- House Bill 1493 - Regulation of towing services.
- House Bill 1523 - Public depositories.
FEDERAL GOVERNMENT RELATIONS
Trump confirms goal to shutter CFPB
President Trump confirmed that he plans to close down the Consumer Financial Protection Bureau, which he said, “was set up to destroy some very good people.” Bureau staff have been ordered to pause all activities.
Reports: Trump nominates Gould to OCC, McKernan to CFPB
President Trump has sent to the Senate the nominations of Jonathan Gould to be comptroller of the currency and Jonathan McKernan to be director of the Consumer Financial Protection Bureau, according to news reports.
DOGE recommends terminating CDFI Fund contracts
A team led by Elon Musk is recommending that the Treasury Department cancel hundreds of contracts funded through its Community Development Financial Institutions Fund, according to an alert by the CDFI Coalition.
House lawmakers propose regulatory framework for stablecoins
The House Financial Services Committee released a discussion draft of a proposed bill to establish a regulatory framework for stablecoins, building off a nearly identical bill introduced in the Senate.
Trump orders Treasury Department to stop penny production
President Trump announced he has ordered a stop to the production of new pennies, although it was not immediately clear whether he has the legal authority to do so.
Powell: Creation of Fed vice chair for supervision led to ‘volatility’
Federal Reserve Chairman Jerome Powell said there was “less volatility” on the Fed board before the creation of a vice chairman for supervision, and that volatility is not helpful for the financial institutions it regulates.