STATE GOVERNMENT RELATIONS
Bills to watch:
- Senate Bill 1 - Property tax relief.
- Senate Bill 157 - Protection of property rights.
- Senate Bill 371 - Workforce matters.
- Senate Bill 464 - Financial institutions and consumer credit.
- House Bill 1005 - Housing and building matters.
- House Bill 1081 - Distributions to charitable beneficiaries.
- House Bill 1441 - Bank accounts for foster and emancipated youths.
- House Bill 1523 - Public depositories.
Indiana shutters COVID-era emergency rent program early
The state is ending its COVID-era emergency rental assistance program, with potentially tens of millions in federal money remaining on the table.
Bill on IEDC transparency measures heads to House floor
Following mounting concerns over the extent of the Indiana Economic Development Corp.'s authority, a bill intended to ensure greater agency transparency has garnered bipartisan support.
Read more from the Indianapolis Business Journal
Beckwith, OCRA announce $1.55M in Owner Occupied Rehabilitation grants
Franklin, Greensburg, Union City and Huntington County will receive grants to "establish a program to help low- and moderate-income homeowners make repairs on their homes," according to a news release from Lt. Gov. Micah Beckwith and the Office of Community and Rural Affairs.
FEDERAL GOVERNMENT RELATIONS
GAO: Regulators cautious in approach to Basel III endgame
The Government Accountability Office reports that U.S. federal banking agencies adhered to best practices in developing international capital standards for the Basel III endgame, despite an unsuccessful implementation effort in 2023. The report, requested by Reps. French Hill, R-Ark., and Andy Barr, R-Ky., examines nearly a decade of work toward the standards and highlights agencies' collaboration with one another and engagement with the banking sector throughout the process.
Read more from American Banker
House introduces stablecoin bill
The House of Representatives has introduced the Stablecoin Transparency and Accountability for a Better Ledger Economy Act, aiming to regulate dollar-denominated digital tokens. The Senate Banking Committee has already advanced its version of the bill.
House panel reviewing bills to boost capital access
The House Financial Services Committee is evaluating over 40 bills designed to enhance access to capital for businesses, in part by increasing the attractiveness of public markets. "Our capital markets should work for everyone," which "means reducing barriers for startups to access funding, incentivizing investment in regional businesses, and reforming outdated regulations that improve access to growth capital to ensure a public offering is a more viable option again," said committee Chair French Hill, R-Ark.
Trump-linked crypto venture launches stablecoin
Linked to President Donald Trump, World Liberty Financial has introduced a new dollar-pegged stablecoin, World Liberty Financial USD, or USD1, with a supply of over $3.5 million. The stablecoin was launched on Ethereum and BNB Chain, but is not yet tradable.
FHFA's Pulte: No plan to lower conforming loan limit
Federal Housing Finance Agency Director Bill Pulte said no plans are in place to reduce the conforming loan limit, which is the top value for loans purchased and guaranteed by Freddie Mac and Fannie Mae. The limit rose to $806,500 this year. The decision comes amid expectations that the Trump administration might seek to reduce the size of Freddie Mac and Fannie Mae.
Treasury reportedly plans proposal to streamline oversight
Sources said Treasury Secretary Scott Bessent is developing recommendations to increase his department's control over U.S. banking regulators, such as the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. The move to streamline bank regulation would align with the Trump administration's broader strategy to increase executive control over federal agencies, but critics say it could limit the Fed's independence in bank supervision.
Fired employees of CFPB largely have been reinstated
A federal court has required the Consumer Financial Protection Bureau to reinstate employees who were terminated amid mass layoffs in February, although a union says 30 to 40 temporary CFPB workers remain out of work. The Justice Department issued a narrow interpretation that the court's order applies only to probationary employees, who have been with the agency less than two years, and therefore does not apply to the temporary workers, who lacked probationary status.