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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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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Fannie Mae and Freddie Mac will continue to offer COVID-19 forbearance to qualifying multifamily property owners through Sept. 30, the Federal Housing Finance Agency (FHFA) announced. © Shutterstock This is the third extension of the programs, which were set to expire on June 30, 2021. However, they remain subject to the continued tenant protections that […]

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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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Findings from a recently released American Institute of CPAs (AICPA) survey showed business executives are expressing optimism with regard to economic recovery in the coming year not witnessed since 2018.© Shutterstock The second-quarter AICPA Economic Outlook Survey gathered feedback from chief executive officers, chief financial officers, and other certified public accountants in domestic firms possessing […]

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U.S. Reps. Dean Phillips (D-MN) and Jackie Walorski (R-IN) introduced legislation that would provide relief for startup businesses ineligible for other types of aid passed by Congress during the COVID-19 pandemic.© Shutterstock The IGNITE American Innovation Act would help these small and mid-sized growth companies left out of the CARES Act and other stimulus packages […]

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U.S. Sen. Ron Wyden (D-OR), chair of the Senate Finance Committee Chair, launched an investigation into pharmaceutical company AbbVie’s international tax practices.© Shutterstock Specifically, the investigation will look at how the 2017 tax law may have allowed the company to avoid paying taxes on U.S. prescription drug sales. “[A]bbVie has been able to successfully exploit […]

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A recently released Securities Industry and Financial Markets Association (SIFMA) whitepaper is advocating financial services integration concerning the nation’s global economic strategy.© Shutterstock “Financial Services and Main Street: Supporting American Economic Growth and U.S. Competitiveness” outlines the basic role the domestic financial services industry plays in the nation’s economy, emphasizing financial services integration internationally. “The […]

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