STATE GOVERNMENT RELATIONS
Opinion: When scammers lose, Hoosiers win
Fraud is a growing problem, from tech support scams to romance scams and identity theft, but education, smart policy and strong advocacy can make a real difference in our communities. AARP Indiana points to the example of House Enrolled Act 1116, which banned Virtual Currency Kiosks after they became a favorite tool of criminals to steal thousands from Hoosiers, especially older adults.
Read more from the Indiana Capital Chronicle
Proxy advisory company sues Rokita in effort to halt new state law
Institutional Shareholder Services Inc. has filed a lawsuit challenging House Bill 1273 that ISS says violates its First Amendment right to freedom of speech.
Read more from the Indianapolis Business Journal (subscription required)
FEDERAL GOVERNMENT RELATIONS
OFAC exemption for Russia oil sanctions expires
The Office of Foreign Assets Control did not extend a one-month exemption on sanctions for Russian oil exports, which expired on April 11.
Opinion: The CEA studied the wrong question on stablecoin ‘yield’ and community banks
The President’s Council of Economic Advisers recently released a paper on payment stablecoins that asks: What happens to bank lending if stablecoin issuers are prohibited from paying yield? ABA DataBank says that is the wrong question for policymakers.
FDIC rescinds guidance on representment NSF fees
The Federal Deposit Insurance Corp. rescinded a 2023 financial institution letter that had stated that banks’ charging representment nonsufficient funds fees may be a deceptive or unfair practice under section 5 of the Federal Trade Commission Act.
Community banker tapped as FDIC chief innovation officer
The Federal Deposit Insurance Corp. has appointed community banker Trey Maust as chief innovation officer. In his new position, Maust will promote the adoption of innovative technologies within the agency and across the financial services sector.
Senators seek at least $324M for CDFI Fund
Forty-three senators are asking their colleagues to set aside at least $324 million for the Community Development Financial Institutions Fund and require those funds to be released in a timely manner.
Trump administration ends lease for CFPB headquarters
The Office of the Comptroller of the Currency has terminated the lease on the Consumer Financial Protection Bureau’s headquarters six years early, according to government records obtained by Reuters news agency.