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TBA, State Associations to Sen. Hatch: Time to Change ‘Status Quo’ for Credit Unions

Taxpayers should no longer subsidize the nation’s largest credit unions, which effectively operate the same as taxpaying banks, all 52 state bankers associations said in a letter to Senate Finance Committee Chairman Orrin Hatch (R-Utah) yesterday.

Sens. Sasse, Jones Sign on to Bipartisan Regulatory Reform Bill

Senate Banking Committee members Ben Sasse (R-Neb.) and Doug Jones (D-Ala.) have signed on as co-sponsors of S. 2155, the bipartisan financial regulatory reform bill expected to receive a Senate vote in the coming weeks.

FASB Issues Final Standard to Resolve Accounting Issues after Tax Reform

The Financial Accounting Standards Board yesterday issued its final standard outlining how banks can adjust regulatory capital balances that were affected by the new tax reform law.

CFPB Releases 2018-22 Strategic Plan

Acting Director Mick Mulvaney emphasized that the agency intends to hew closely to the Dodd-Frank Act, thus providing “a touchstone with a fixed meaning that should serve as a bulwark against the misuse of our unparalleled powers."