Little Rock, Ark. — Yesterday, Rep. French Hill (AR-02) introduced HR. 6306, the Immediate Funds Availability Act in response to the COVID-19 outbreak across the United States. This legislation would increase the amount of funds that bank customers are able to receive and would require them to be made available immediately. Under current law, banks are required to provide only $200… Read more »
Lawmakers say banks need guidance on virus-related workarounds
3/6/2020
American Banker
U.S. lawmakers are pushing regulators to provide room for banks to work out loans with businesses and consumers who may be affected by the coronavirus.
Banks may need some "ability to work with the regulators so that if people look like they're becoming more credit risky because of the… Read more »
Blaine Luetkemeyer crusades for community banks
3/5/2020
Roll Call
The center of Blaine Luetkemeyer’s world can be found on Main Street in tiny Saint Elizabeth, a village of 336 souls and no streetlights in the middle of Missouri, where a small bank and a humble church face one another.
Before he came to Washington in 2008, Luetkemeyer’s life revolved around the Bank of St.… Read more »
Lawmakers Say Banks Need Guidance on Virus-Related Workarounds
3/5/2020
Yahoo! News
(Bloomberg) -- U.S. lawmakers are pushing regulators to provide room for banks to work out loans with businesses and consumers who may be affected by the coronavirus.
Banks may need some “ability to work with the regulators so that if people look like they’re becoming more credit risky because of… Read more »
WASHINGTON D.C. — Today, Rep. French Hill (AR-02), Ranking Member of the House Financial Services Subcommittee on National Security, International Development, and Monetary Policy, helped lead a hearing entitled, “The Traffickers’ Roadmap: How Bad Actors Exploit Financial Systems to Facilitate the Illicit Trade in People, Animals, Drugs, and Weapons.” This hearing is the first in a… Read more »
WASHINGTON D.C. — Today, Representatives French Hill (R-AR) and Al Lawson (D-FL) introduced H.R. 6081, the Holding Iranian Leaders Accountable Act. The legislation would make public the funds obtained in an illegal or corrupt manner held by Iran’s authoritarian theocratic regime. In addition, it would require the Department of Treasury to brief Congress on how the funds have been… Read more »
WASHINGTON D.C. — Today, in a vote of 356 - 0, the House of Representatives passed H.R. 5932, Ensuring Chinese Debt Transparency Act introduced by Rep. French Hill (AR-02).
H.R. 5932 would require the United States to seek greater transparency from countries that obtain funding from both the Chinese government and the international financial institutions… Read more »
House gets Axne bill that would require companies to share info on promotions, benefits
2/28/2020
Des Moines Register
A bill from U.S. Rep. Cindy Axne to require publicly traded companies to share more information about how they treat employees has received approval from the House Financial Services Committee.
The bill now goes to the full House for consideration.
The… Read more »
China’s, Facebook’s plans spur interest in a digital US dollar
2/25/2020
Roll Call
A year ago the concept of a digital U.S. dollar was considered a fringe idea by some in the government, but the unveiling of Facebook’s proposed cryptocurrency and China’s plans for its own digital currency have officials rethinking that stance.
The reversal is clear from statements by Federal… Read more »
PH Money Matters: This Week in Washington for February 24, 2020
2/24/2020
Lexology
THE BIG PICTURE
On Wednesday, the most contentious debate of the Democratic primary thus far took place in Las Vegas, with six presidential contenders facing off just days before the Nevada caucuses. The evening was former New York City Mayor and billionaire Mike Bloomberg’s first appearance on… Read more »
