News Topic: investment and tax-related legislation

The latest bipartisan plan to accelerate the economic recovery would appropriate roughly $300 billion for the Paycheck Protection Program, but the legislative package still faces long odds in the divided Congress. ... Read full article

Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue. ... Read full article

A pioneer in the commercial mortgage-backed securities market argues the HOPE Act would bail out savvy investors who don't deserve it. Barclays predicts that kind of attitude will make passage difficult. ... Read full article

The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate. ... Read full article

Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk. ... Read full article

Rancor between Democrats and Republicans has made it hard to enact subsequent bills. But the 2018 reg relief package and more recent legislation offer hope for efforts to reach across the aisle. ... Read full article

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners. ... Read full article

The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven. ... Read full article

In some cases, financial institutions are required by court order to divert funds to private creditors. But the industry has added its voice to a consensus for a legislative update to ensure Americans receive their full amount. ... Read full article

Lawmakers advanced legislation that would require banking regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts. ... Read full article

The Department of Business Oversight said TitleMax charged consumers fees to push loan amounts above the threshold at which the state's rate cap applies. ... Read full article

Chairman Jelena McWilliams previewed a proposal to update the agency’s definition of brokered funds, but also suggested steps lawmakers could take to improve the rule’s underlying statute. ... Read full article

Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers. ... Read full article

Bankers had worried about Rep. Maxine Waters' control of the Financial Services Committee, but many now say the Democrat’s working relationship with the panel’s top Republican is refreshing. ... Read full article

A special committee in the state Senate has recommended not to move forward on a proposed bill to tax credit unions above a certain asset threshold. ... Read full article

The Senate Banking Committee chairman said he wants to revise legislation enabling banks to serve marijuana businesses to ensure it does not benefit vaping providers that have sparked safety concerns. ... Read full article

As Banking Committee Chairman Mike Crapo works on legislation enabling banks to serve cannabis businesses, one area of focus is combating risks tied to “legacy cash” that has accumulated in the marijuana industry. ... Read full article

The legislation included changes designed to attract more Republican support, which is key to the measure ultimately becoming law. ... Read full article