STATE GOVERNMENT RELATIONS
Lawmakers conclude 2025 Indiana session
Indiana lawmakers concluded the 2025 legislative session late Thursday evening. Key issues up for consideration this session were property tax reform and passing a balanced two-year budget. The IBA was very active on a variety of issues from the outset of session all the way to the final moments. Overall, it was another successful year for the industry with several meaningful reforms passing. The IBA will provide a full session summary through the Insighter in the coming days.
FEDERAL GOVERNMENT RELATIONS
CFPB to lay off most staff, judge temporarily blocks the move
The Trump administration sent layoff notices to more than 1,500 staff at the Consumer Financial Protection Bureau, a move that would leave only 200 personnel at the bureau. A federal judge has temporarily blocked the move. A follow-up hearing is set for April 28.
FDIC modifies approach to resolution planning for large banks
The Federal Deposit Insurance Corp. announced plans last Friday to alter its approach to insured depository institution resolution planning. The goal is to focus the IDI resolution planning process on the operational information most relevant for the FDIC to resolve a large bank through a weekend sale or operate the institution for a short period of time while rapidly marketing the institution, the agency said.
Fed, FDIC withdraw statements on managing risks for crypto
The Federal Reserve and Federal Deposit Insurance Corp. rescinded two joint statements issued under the Biden administration on the risk management obligations of financial institutions should they offer crypto-related services.