A subcommittee within the Commodity Futures Trading Commission (CFTC) voted to recommend switching interdealer trading conventions from LIBOR to the Secured Overnight Financing Rate (SOFR) for interest rate swaps. © Shutterstock The recommendation was made by CFTC’s Market Risk Advisory Committee’s (MRAC) Interest Rate Benchmark Reform Subcommittee. This initiative, referred to as “SOFR First,” is […]

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Security Industry Association (SIA) officials are expressing support for the Senate passage of legislation designed to increase research and development, education, and supply chain security innovation.© Shutterstock The U.S. Innovation and Competition Act strengthens domestic leadership in key technologies via research in key focus areas: artificial intelligence (AI), machine learning, high-performance computing, advanced computer hardware […]

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The Investment Company Institute (ICI) said the Securities and Exchange Commission (SEC) should require companies to disclose direct and indirect greenhouse gas emissions data and demographic information about their workforces.© Shutterstock The statement responds to a call for feedback that the SEC recently put out on climate change-related corporate disclosure. Consistent, comparable, and reliable data […]

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U.S. Rep. French Hill (R-AR) is among a group of Republicans on the House Financial Services Committee that have expressed concerns with the Securities and Exchange Commission (SEC) proposal to mandate disclosures for public companies regarding climate change and greenhouse gas emissions.© Shutterstock “We are concerned that in the context of climate change disclosures, the […]

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Federal Reserve Board officials said its bank stress tests results will be released on June 24.© Shutterstock The process ensures banks have the capital to absorb losses amid a recession to lend to households and businesses. Per the Federal Reserve Board, this year’s bank stress test involves the resilience of banks with more than $100 […]

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The Credit Union National Association (CUNA) is calling on the Federal Communications Commission (FCC) to maintain a standardized requirement for voice service providers to provide notifications of blocked calls.© Shutterstock CUNA’s stance is in response to USTelecom’s petition requesting the FCC permit a flexible range of notification methods when calls are blocked. The CUNA said […]

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U.S. Department of the Treasury officials said the Agency’s Bureau of Engraving and Printing (BEP) has released the Final Environmental Impact Statement (EIS) for a new Currency Production Facility (CPF).© Shutterstock The EIS for the proposed construction and operation of the CPF within the National Capital Region (NCR) analyzes potential environmental, cultural, and socioeconomic impacts […]

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Three senators recently applauded the U.S. Department of Veterans Affairs (VA) revisions to its proposed COVID-19 Veterans Assistance Partial Claim Payment (COVID-VAPCP) program.© Shutterstock The revisions stemmed from concerns raised by legislators and other stakeholders, with Sens. Sherrod Brown (D-OH), chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Jack Reed (D-RI), […]

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The National Association of Federally-Insured Credit Unions (NAFCU) is among several organizations asking the Federal Communications Commission (FCC) to allow companies to call consumers with vital information. © Shutterstock Specifically, NAFCU and the trade associations oppose US Telecom’s petition to have the FCC reconsider certain aspects regarding blocked calls, including eliminating requirements on notifications when […]

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U.S. Sens. Jim Risch (R-ID), Mike Crapo (R-ID), and Michael Bennet (D-CO) are among a group of Senators urging the leaders of the Senate Committee on Appropriations to fully fund the Payments in Lieu of Taxes (PILT) program for fiscal year 2022. © Shutterstock The PILT provides payments to counties with non-taxable federal land within […]

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