FEDERAL GOVERNMENT RELATIONS
Second court rules against administration in legal fight over CFPB funding
A federal judge in California has ruled that the Trump administration must continue funding the Consumer Financial Protection Bureau. The decision follows a similar ruling by federal judge in D.C. in a separate case.
OFAC lifts Russia oil sanctions for one month
The Office of Foreign Assets Control has authorized Russian oil exports through April 11 to ease pressure on rising fuel prices following the start of military operations in Iran.
Court tosses subpoenas against Fed’s Powell
A federal judge has tossed two Justice Department subpoenas against Federal Reserve Chairman Jerome Powell after concluding both were issued to pressure the Fed into lowering interest rates.
Take Action: Urge your lawmakers to cosponsor the SCAM Act
Consumers are scammed out of an estimated $195 billion annually. Tell lawmakers to stop scams by supporting S.3774 and H.R.7548, the Safeguarding Consumers from Advertising Misconduct (SCAM) Act, which would help protect Americans from criminals who exploit fraudulent advertising on social media platforms.
Regulators release proposals to ease bank capital requirements
Banking regulators advanced three proposed rules to lower capital requirements for banks of all sizes as part of an effort to boost lending activity.
FDIC to allow private equity firms, nonbanks to bid on failed banks
The Federal Deposit Insurance Corp. board rescinded a 2009 policy that prevented private equity firms and other nonbanks from bidding on failed banks.
OCC, former comptrollers urge court to overturn Illinois interchange ruling
An Illinois state law restricting interchange fees for certain payments threatens the national banking system by interfering with federal powers to regulate that system, the Office of the Comptroller of the Currency and a group of 10 former comptrollers said in separate court filings.