Debt ceiling deal clears Senate
The Senate voted 63-36 in favor of an agreement to raise the debt ceiling. The legislation now heads to President Biden to sign into law.
The Senate voted 63-36 in favor of an agreement to raise the debt ceiling. The legislation now heads to President Biden to sign into law.
The House voted 314-117 to approve an agreement to raise the debt ceiling. The legislation next heads to the Senate.
ABA and seven financial trade associations urged lawmakers in both parties to finalize a deal to raise the debt ceiling, saying that failing to do so would put the U.S. economy at risk.
With a bipartisan vote of 35 to 12, the House Financial Services Committee this week advanced H.R. 3063, the Retirement Fairness for Charities and Education Institutions Act of 2023.
In a letter, ABA urged House lawmakers to support the Access to Credit for our Rural Economy Act, which the association said would grow rural America by making it easier for farmers, ranchers and rural families to access low-cost credit.
Nine Republican senators urged the Federal Reserve to stop engaging in “climate activism,” saying the institution’s “credibility hangs in the balance.”
Sens. Thom Tillis (R-N.C.) and Jon Tester (D-Mont.) urged President Biden to appoint an independent investigator to further probe the recent bank failures.
Stablecoin issuance is a monetary exercise comparable to what regulated banks do and should be supervised accordingly to ensure financial stability and consumer protection, ABA said in a statement to the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion.
ABA filed comments in response to the Federal Housing Finance Agency’s recent request for input on a single-family social bond policy for Fannie Mae and Freddie Mac, with the association offering considerations should the agency further pursue the policy.
The leaders of the House and Senate small business committees asked the Small Business Administration to “pause” changes to its lending programs until a permanent associate administrator is confirmed to oversee the programs