STATE GOVERNMENT RELATIONS
Braun poised to name new IEDC board next week
Gov. Mike Braun is set as soon as Monday to remake the Indiana Economic Development Corp. board of directors. Asked Thursday whether he would keep any of the current IEDC board members in those positions, the governor told reporters, "Don't think so."
Advocates urge Braun to convene a commission to tackle the housing crisis
More than 700 organizations and individuals have signed a letter calling on Gov. Braun to convene a commission to address Indiana's housing crisis.
Read more from Indiana Public Broadcasting
FEDERAL GOVERNMENT RELATIONS
Federal bank regulatory agencies seek comment to address payments and check fraud
The federal bank regulatory agencies are requesting public input on potential actions to address payments fraud, with a particular focus on the growing issue of check fraud. The agencies are considering ways to support consumers, businesses and financial institutions through improved regulation, collaboration, education and data sharing.
Comments are requested in five key areas:
- External collaboration among regulators and industry.
- Consumer and business education on fraud risks.
- Regulatory and supervisory improvements.
- Data collection and fraud information sharing.
- Reserve Bank tools and services to reduce fraud.
In addition to seeking public input, the agencies will also continue looking for additional opportunities to effectively collaborate across other state and federal agencies, given the importance of interagency coordination to help mitigate payment fraud.
Comments must be received within 90 days after the date of publication in the Federal Register.
Read the complete Request for Information
CFPB delays small-business lending rule deadline to 2026
A one-year extension from the Consumer Financial Protection Bureau sets a new compliance deadline of July 1, 2026, for the agency's rule mandating that financial institutions collect and report data on small-business lending. The CFPB said it expects to undertake a new rulemaking under Section 1071 of the Dodd-Frank Act and "anticipates issuing a notice of proposed rulemaking as expeditiously as reasonably possible."
Senate passes stablecoin bill in landmark vote
The U.S. Senate has passed the GENIUS Act, the first major federal legislation to regulate stablecoins, marking a significant victory for the crypto industry. The bill sets oversight standards, mandates 1:1 reserves and introduces compliance requirements for large issuers, including Circle and Tether, as it moves to the House ahead of a likely signature from President Donald Trump.
Read more from the Wall Street Journal
Senate lawmakers issue updated version of tax bill
Senate Republicans have released a revised version of tax legislation that would raise the debt limit by $5 trillion. The legislation includes a $10,000 state and local tax (SALT) cap as a placeholder, with negotiations on the issue expected to continue. It would also reportedly go further with efforts to reduce Medicaid spending.
Fed holds key rate steady, still sees two more cuts this year
The Federal Reserve on Wednesday kept interest rates steady amid expectations of higher inflation and lower economic growth ahead, but still pointed to two reductions later this year. With markets expecting no chance of a central bank move this week, the Federal Open Market Committee kept its key borrowing rate targeted in a range between 4.25-4.5%, where it has been since December.
Senate unanimously approves bipartisan trigger-leads bill
The Senate gave unanimous approval to the Homebuyers Privacy Protection Act, aimed at limiting credit reporting firms' ability to provide trigger leads to third parties. The bill, which would amend the Fair Credit Reporting Act, now awaits reconciliation with a similar House version before it can advance to President Donald Trump. The Mortgage Bankers Association and state attorneys general have expressed support for the legislation, citing consumer protection from unwanted solicitations.
Read more from American Banker