Leadership at the National Association of Federally-Insured Credit Unions (NAFCU) has voiced concerns over the Federal Reserve’s proposal to make changes to Regulation II – which covers debit card interchange fees and network routing exclusivity. The proposal seeks to clarify that debit card issuers should enable, and allow merchants to choose from, at least two […]
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Two leading Congressional Republicans are urging U.S. Department of Labor Secretary Marty Walsh to devote more funding to detect and prevent unemployment insurance fraud. © Shutterstock Sen. Mike Crapo (R-ID), ranking member of the Senate Finance Committee, and Rep. Kevin Brady (R-TX), ranking member of the House Ways and Means Committee, also requested information on […]
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The National Venture Capital Association (NVCA) is expressing support for the Biden Administration’s full launch of the International Entrepreneur Rule (IER), noting the action would spur job creation and innovation.© Shutterstock “Immigrant entrepreneurs have made incredible contributions to the U.S. economy, including creating some of America’s most prominent companies, such as Moderna and Pfizer that […]
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The Securities and Exchange Commission (SEC) approved its first security-based swap data repository (SDR) – the DTCC Data Repository, LLC (DDR).© Shutterstock This is the first SDR that can accept transaction reports. DDR intends to operate as a registered SDR for security-based swap transactions in the equity, credit, and interest rate derivatives asset classes. “Implementing […]
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U.S. Rep. Terri Sewell (D-AL) introduced legislation in the House to reduce the number of years of service required for part-time workers to make retirement contributions.© Shutterstock The bill is called the Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act (H.R. 2944). It was included as […]
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Department of the Treasury officials said an additional $21.6 billion has been allocated for emergency rental assistance to prevent evictions and ensure housing amid the COVID-19 pandemic.© Shutterstock The White House American Rescue Plan Implementation Team and Department of Housing and Urban Development (HUD) collaboration yielded the American Rescue Plan for Emergency Rental Assistance. The […]
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The Pennsylvania State House of Representatives approved a bill last week that seeks to support the integrity of Pennsylvania’s banking system.© Shutterstock The legislation, House Bill 859, was introduced by Pennsylvania State Rep. Sheryl Delozier (R-Cumberland). It now moves to the State Senate for a vote. The bill references the Banking Fund, which holds semi-annual […]
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U.S. Rep. Patrick McHenry (R-NC) introduced legislation that would include the gig workforce in the category of workers who can benefit from equity compensation.© Shutterstock The Gig Worker Equity Compensation Act (H.R. 2990) would help gig workers share in the economic resurgence while preserving their flexibility and independence. “How people choose to work is changing. […]
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National Association of Federally-Insured Credit Unions (NAFCU) officials recently met with House Ways and Means Committee Ranking Member Kevin Brady (R-TX) regarding tax exempt preservation, among other matters. © Shutterstock NAFCU-member credit unions from Texas also joined the session, noting Brady has championed credit union causes and has played a role instrumental in protecting credit […]
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The House of Representatives Ways & Means Committee has advanced the Securing a Strong Retirement Act of 2021, noting the measure expands opportunities to increase retirement savings.© Shutterstock Additionally, lawmakers indicated the effort bolsters workers’ long-term financial well-being and compliments the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 signed into law […]
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