Inside the Beltway

President Donald Trump signed an executive order, titled “Promoting Advanced Artificial Intelligence Innovation and Security,” on June 2. The directive seeks to facilitate access to new artificial intelligence innovations while also safeguarding the U.S. against AI-enabled threats to national security. Read on »

The House voted 396-13 to pass its amended version of the 21st Century ROAD to Housing Act on May 20. The ball is once again in the Senate’s court to determine what happens next with the bill, which has gained strong bipartisan support from lawmakers and within the financial services sector. Read on »

The Senate confirmed Kevin Warsh as the new chairman of the Federal Reserve. Warsh’s experience in financial markets and his approach to monetary policy have earned him support from industry trade associations. Read on »

Financial services advocates concerned by the risk of “deposit flight” resulting from the integration of digital currencies into the U.S. banking system have advocated for legislative action to address “loopholes” that could negatively impact the industry. Read on »

The House Financial Services Committee convened on April 28 to review proposals from the federal banking agencies to implement revised Basel III capital rules with testimony courtesy of representatives from the financial services sector. Read on »

The House Financial Services Committee voted to advance legislation to partially nullify a Consumer Financial Protection Bureau rule requiring financial institutions to collect data on certain small business credit applications, among others. Read on »

The U.S. Treasury’s Financial Crimes Enforcement Network and banking agencies issued two proposed rules to revise Bank Secrecy Act regulations governing financial institutions’ anti-money-laundering programs and establish such requirements for stablecoin issuers. Read on »

The Federal Deposit Insurance Corp. rescinded a 2023 guidance issued for banks charging re-presentment nonsufficient funds fees, clarifying certain practices that could be deemed unfair or deceptive, particularly with respect to multiple fees charged for the same transaction. Read on »

The Trump administration’s latest effort to reduce funding for the Community Development Financial Institution Fund would slash approximately two-thirds of the fund’s budget for fiscal year 2027 and impose a new fee on certain small business lenders. Read on »

The Federal Deposit Insurance Corp. released its “Consumer Compliance Supervisory Highlights” report on March 31, summarizing results of the agency’s examinations related to compliance issues identified among state non-member banks and thrifts supervised by the agency. Read on »