Browsing: Policy

Newsbytes

In an overwhelming, bipartisan vote this week, the House Rules Committee agreed to include the SAFE Banking Act—an American Bankers Association-supported bill that provides clarity to financial institutions seeking to serve legitimate cannabis businesses—as an amendment to the National Defense Authorization Act.

Newsbytes

Treasury Secretary Janet Yellen this week called on House Ways and Means Committee Chairman Richard Neal (D-Mass.) to include in the reconciliation package the Biden administration’s controversial provision that would require financial institutions to report information to the IRS on gross inflows and outflows on customer accounts above a de minimis level of $600—a provision strongly opposed by the American Bankers Association.

Mortgage

The Federal Housing Finance Agency and the Treasury Department today announced the suspension of changes to the preferred stock purchase agreements governing the conservatorships of Fannie Mae and Freddie Mac that were announced in January.

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