Advocacy News

E-News 11-17-23 FEDERAL GOVERNMENT RELATIONS Gruenberg: Incentive Pay Rulemaking Likely Delayed Until 2024 Federal Deposit Insurance Corp. Chairman Martin Gruenberg said Wednesday that a proposed interagency rulemaking to implement incentive pay requirements in the Dodd-Frank Act likely won’t happen before the end of the year. During a House Financial Services Committee oversight hearing on banking and credit union regulators, Rep. Nydia Velázquez, D-N.Y., asked Gruenberg about comments he made in May suggesting that the regulators would move forward with rulemaking to implement Section 956 of the Dodd...
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E-News 11-10-23 STATE GOVERNMENT RELATIONS State General Fund Revenue 8% Off Projections for October Indiana’s state tax collections for October fell 8.4% below expectations in the first sizable monthly shortfall in more than a year. The state’s latest monthly revenue report showed collections coming in $134.7 million less than the April forecast that legislators used in putting together the current state budget. The nearly $1.5 billion in state general fund revenue was $187 million, or 11.3%, below the October 2022 collections. The State Budget Agency attributed the October shortfall to lower-than-...
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E-News 11-3-23 STATE GOVERNMENT RELATIONS Carrasco, Goode Sworn in as New State Senators Republicans Greg Goode and Cyndi Carrasco were sworn into office during a ceremony Wednesday in the Senate chamber, where they joined the 40-10 GOP majority. Goode is the state director for U.S. Sen. Todd Young and replaces Sen. Jon Ford, who announced his resignation last month. Carrasco serves as vice president and general counsel for the University of Indianapolis. She succeeds Sen. Jack Sandlin, who died in September.         FEDERAL GOVERNMENT RELATIONS ICBA Advocacy...
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E-News 10-27-23 FEDERAL GOVERNMENT RELATIONS Fed Proposes Lowering Debit Card Fee Cap, Revisiting Figure on Biennial Basis The Federal Reserve has proposed to significantly lower the cap on debit card interchange fees earned by banks and institute a new review process by which the cap would be revised every two years. Under the notice of proposed rulemaking, the Fed would revise Regulation II to lower the cap from its current rate of 21 cents and .05% of the transaction, plus a one cent fraud adjustment, to 14.4 cents and .04% per transaction and a 1.3 cents fraud prevention adjustment, effective June...
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