Congressman Frank Lucas (OK-03) delivered remarks on the House floor in support of H.R. 9456, the Protecting American Agriculture from Foreign Adversaries Act. The legislation aims to make permanent policies enacted under the Consolidated Appropriations Act for Fiscal Year 2024.
Ranking Member Tim Scott (R-S.C.) introduced the ROAD to Housing Act today, a comprehensive legislative effort aimed at reversing decades of housing policies and making targeted reforms across the U.S. housing market. This initiative follows extensive negotiations with stakeholders and feedback from multiple committee hearings.
Chairman Barr delivered remarks at a hearing to address concerns over the lack of transparency in U.S. financial regulators' interactions with global governance bodies. The focus was on organizations such as the Bank for International Settlements (BIS), the Basel Committee on Banking Supervision (BCBS), and the Network for Greening the Financial System (NGFS).
In response to Federal Reserve Board Vice Chair for Supervision Michael Barr’s comments today at the Brookings Institution on the future of the Basel III Endgame proposal, Ranking Member Tim Scott (R-S.C.) issued a statement.
Richard Hunt, Executive Chairman of the Electronic Payments Coalition (EPC), issued a statement following the release of a study by CMSPI on credit card processing costs. The study, funded by large corporate mega-stores, has been labeled as inaccurate by EPC.
The Electronic Payments Coalition (EPC) has released a three-part video series as part of its “Guard Your Card” campaign. The initiative aims to inform Americans about the potential risks associated with the Durbin-Marshall Credit Card Bill. According to EPC, the proposed legislation could eliminate credit card rewards programs, weaken consumer data security, and reduce access to credit for those who need it most.
Today, the House Financial Services Subcommittee on Oversight and Investigations, chaired by Bill Huizenga (MI-04), convened a hearing titled “The Fall of ESG: Scrutinizing the Failed Use of Environmental, Social, & Governance Standards and the Influence of Proxy Advisors.”
Today, the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, led by Chairman French Hill (AR-02), is holding a hearing entitled “Decoding DeFi: Breaking Down the Future of Decentralized Finance.”
Bank of America announced today that it has raised its U.S. minimum hourly wage to $24 per hour, continuing its commitment to reach $25 by 2025. This increase will bring the minimum annualized salary for full-time employees in the U.S. to nearly $50,000 and applies to all full-time and part-time hourly positions.
Interest rates at the far end of the yield curve are already declining, despite ongoing discussions about when and by how much the Federal Reserve will lower the federal funds rate. This trend is attributed to diminished market expectations for long-term inflation and near-future short-term rates.
Bank of America announced today that it has increased its minimum wage to $24 per hour in the United States, as part of its commitment to reach $25 by 2025. With this increase, the annualized minimum salary for full-time employees in the U.S. will rise to nearly $50,000. This raise applies to all full-time and part-time hourly positions in the country.
In the latest episode of the AFSA Extra Credit Podcast, David Ralstin, Vice President and Chief Information Security Officer for Allied Solutions, joins the discussion. Ralstin's role at Allied Solutions involves governance, accountability, and advisory services for technology risk management and information security controls.
“Industry Expertise” is sponsored content produced by AFSA’s Business Partners to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact Dan Bucherer.
Today, the U.S. House of Representatives passed bipartisan financial services legislation aimed at countering the economic threat from China. The measures are designed to deter Chinese Communist Party (CCP) aggression towards Taiwan and prevent the CCP from influencing international financial institutions such as the International Monetary Fund (IMF).
The Association of Military Banks of America (AMBA) Board of Directors has appointed Omuso D. George as the new President and CEO. George, a retired U.S. Army Brigadier General, brings extensive experience in military finance and public sector consulting to his new role. He will be responsible for leading AMBA’s strategic membership growth, managing relationships with legislative, military, and financial industry stakeholders, and promoting continued innovation in military banking services.
The American Fintech Council (AFC) has expressed support for the Federal Reserve's proposal to extend the operating hours of Fedwire Funds Service and National Settlement Service (NSS). The AFC, representing fintech companies, innovative banks, and payment providers, submitted a comment letter to the Board of Governors of the Federal Reserve System (FRB) in response to their Request for Comment on this expansion.
The Merchants Payments Coalition (MPC) continues to distort the facts as part of its campaign to influence Congress into passing the Durbin-Marshall Credit Card Bill.
Electronic Payments Coalition Executive Chairman Richard Hunt today criticized the Department of Transportation’s review of airline reward programs, calling it "the latest stop on the Durbin-Marshall Retribution Tour." This review, along with one by the Consumer Financial Protection Bureau, was requested last year by Senators Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.). Hunt alleged that the senators are using these reviews to target industries opposed to their proposed legislation, which places new mandates on Americans’ credit cards.