FEDERAL GOVERNMENT RELATIONS
President signs 'big beautiful bill' including numerous industry-backed provisions
Included in the budget reconciliation bill were several industry-supported tax provisions related to banks, including a modified version of the ACRE Act and the permanent extension of the Section 199A pass-through deduction rate of 20%.
Fannie, Freddie to expand credit scoring options for mortgages
Fannie Mae and Freddie Mac will allow lenders the option to use VantageScore 4.0 while still allowing use of FICO to assess the creditworthiness of mortgages, Federal Housing Finance Agency Director Bill Pulte announced.
Senate confirms Gould as comptroller of the currency
The Senate voted to confirm Jonathan Gould as comptroller of the currency. He succeeds Rodney Hood, who is acting comptroller.
FDIC board to consider proposals on CRA, bank branches
The Federal Deposit Insurance Corp. board will hold an open meeting next week to consider several agenda items, including proposals on regulatory thresholds, the Community Reinvestment Act and bank branches.
New HSA expansion included in federal budget bill
President Trump last week signed a budget bill that included the largest expansions to Health Savings Accounts since they were created in 2003.