FEDERAL GOVERNMENT RELATIONS
SBA orders lenders to stop ‘debanking’
The Small Business Administration ordered its network of more than 5,000 lenders Wednesday to end any practices that result in “debanking,” adding that lenders who fail to comply will “lose their good standing with the SBA and will be subjected to additional punitive measures.”
Cook files lawsuit to overturn attempted removal from Fed board
Federal Reserve Governor Lisa Cook filed a lawsuit Thursday against President Trump for his attempt to remove her from the Fed board, saying the president’s actions are “unprecedented and illegal.”
CFPB proposes setting guardrails for nonbank supervision
The Consumer Financial Protection Bureau is proposing a new standard leaders say will bring more uniformity to the agency’s supervision of nonbanks.
Powell suggests ‘adjusting’ Fed’s monetary policy stance
Federal Reserve Chairman Jerome Powell said last Friday that risks to the U.S. labor market are rising, signaling a possible shift in the Fed’s approach to monetary policy moving forward.
ABA: Proposed reporting changes could harm CDFI Fund mission
A proposal to require Community Development Financial Institutions Fund recipients to report certain supervisory violations risks blurring the separation between regulatory oversight and mission-driven certification, the American Bankers Association said in a letter this week to Treasury Secretary Scott Bessent.