IBA E-News 1-4-19
STATE GOVERNMENT RELATIONS
Indiana General Assembly Convened January 3rd
Legislators returned to Indianapolis in the new year to kick of the 2019 legislative session. Being a budget session, the top priority will be crafting a new two-year budget while considering a myriad of other issues before they adjourn on April 29.
IBA Legislative Briefing and Reception
Registration is now open for the 2019 IBA Legislative Briefing and Reception, scheduled for Feb. 4, at the Hyatt Regency Indianapolis. As the first IBA grassroots advocacy event of the new year, this is a prime opportunity to get your bank involved in 2019. The briefing, conducted by the IBA Government Relations Team, will begin at 4:00 PM and include an in-depth discussion of current legislative issues. To register, click here!
New this year, we have added to the agenda an informative and entertaining discussion on Indiana politics with WFYI’s Indiana Week in Review team. Host Brandon Smith will cover the issues facing Indiana related to politics and policy, with insightful viewpoints from panelists Mike O’Brien, Ann DeLaney, Jon Schwantes and Niki Kelly.
FEDERAL GOVERNMENT RELATIONS
Bank Regulators to Stay Open While Other Agencies Partially Close
With the federal government shut down, several agencies are closing all but essential operations. Federal banking regulators -- the Consumer Financial Protection Bureau, FDIC, Federal Reserve and OCC -- will remain open as their funding does not come from congressional spending. However, federal lending programs, including the Small Business Administration, Federal Housing Administration and USDA programs, will be curtailed.
The Securities and Exchange Commission said that it will prioritize investor protection and market integrity functions should the shutdown persist; the Commodity Futures Trading Commission will likewise shut down all but essential market support functions. The Financial Crimes Enforcement Network will continue to process industry anti-money laundering filings. For more information, visit individual agency and department websites.
FEMA Reverses Decision on Flood Insurance During Shutdown
The Federal Emergency Management Agency will allow operations of the National Flood Insurance Program to resume, even while the government remains partially shut down, the agency announced today. The move was retroactive to Dec. 21, ultimately leaving no lapse in NFIP availability.
Agencies Finalize Expanded 18-Month Exam Cycle
Federal regulators issued final rules adopting interim final rules issued in August expanding eligibility for the 18-month examination cycle. As authorized by the S. 2155 relief law, the agencies raised the qualifying asset threshold for the 18-month exam cycle from $1 billion to $3 billion.