Advocacy News

E-News 8-1-25 FEDERAL GOVERNMENT RELATIONS CFPB says it will rework 1033 rule The Consumer Financial Protection Bureau requested a stay in a lawsuit challenging the 1033 rule on consumer data security and privacy and said it plans to craft a new rule soon. The CFPB filed a stay with the U.S. District Court of Eastern Kentucky and said it “has now decided to initiate a new rulemaking to reconsider the Rule with a view to substantially revising it.” The CFPB in June asked a federal court to vacate its 1033 rule, saying the rule is unlawful because it exceeds the bureau’s statutory authority and is...
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E-News 7-25-25 FEDERAL GOVERNMENT RELATIONS House committee passes industry-backed reg relief bills The House Financial Services Committee passed several industry-supported bills during a two-day markup. The committee voted to advance: The FDIC Board Accountability Act (H.R. 3446) by a 26-23 vote. Introduced by Rep. Bill Huizenga, R-Mich., it would require the appointment of a member of the Federal Deposit Insurance Corp. board of directors with experience in small depository institutions.  The Tailored Regulatory Updates for Supervisory Testing (TRUST) Act of 2025 (H.R. 4478) by a 49-...
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E-News 7-18-25 FEDERAL GOVERNMENT RELATIONS Regulators move to rescind 2023 CRA update The Federal Reserve Board, the Federal Deposit Insurance Corp. and the Office of the Comptroller of Currency formally initiated the process of rescinding 2023 changes to the implementation of the Community Reinvestment Act. The move would roll the anti-redlining law back to its 1995 framework. Critics have said the 2023 revisions are overly complex and burdensome, particularly for community banks, and likely exceed statutory authority. Read more from American Banker Crypto bills advance in House after Trump...
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E-News 7-11-25 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%.  Read more 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...
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