The House today by a vote of 216 to 212 approved the Senate’s 2018 budget resolution, effectively clearing the way for Congress to continue working on tax reform. Today’s action will allow a tax reform bill to pass through the Senate with a simple majority vote, rather than a 60-member majority. The House is expected to release draft language of the bill next week.
The OCC has created a new page on its website with resources to help community banks meet their digitalization objectives.
The FHA issued a mortgagee letter rescinding three appraisal policies concerning fair housing considerations, part of what the agency said was a Trump administration effort to reduce regulation.
SSA announced a plan to reduce costs and enhance its Electronic Consent Based Social Security Number Verification, which allows financial institutions and other permitted entities to verify Social Security information.
The Federal Open Market Committee announced that it will hold the target range for the federal funds at 4.25%-4.5%.
Treasury Secretary Scott Bessent said the Trump administration is re-examining “all bank regulation” with a focus on easing the burden for banks, although he singled out the supplementary leverage ratio as one regulation that could be eliminated.
As the nation works to strengthen the economy, the CDFI Fund is a proven and effective vehicle that directly supports key priorities laid out by the Trump administration, ABA and seven associations said.
