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  • Federal Election Commission Approves Advisory Opinion, holds Administrative Review Hearing

    Federal Election Commission Approves Advisory Opinion, holds Administrative Review Hearing| site |


    (Information contained in Federal Election Commission [FEC] press release dated: February 25, 2021)

    Washington - - At its open meeting today, the Federal Election Commission approved an advisory opinion. The Commission also held an administrative review hearing at the request of a 2016 presidential campaign committee regarding a matching funds repayment determination made by the Commission in 2019.

    Advisory Opinion Request 2021-02 (FEN-PAC) The Commission approved an advisory opinion request from the Full Employment Now-Political Action Committee (FEN-PAC), an independent expenditure-only political committee, regarding whether it may use aggregate data about FEN-PAC contributors in communications with members of Congress and Congressional candidates on matters involving legislative and policy issues. The Commission concluded
    ...
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  • Federal Communications Commission announces Winning Bidders in C-Band Action

    Federal Communications Commission announces Winning Bidders in C-Band Action

    Federal Communications Commission announces Winning Bidders in C-Band Action | site |




    FCC says "Auction of 3.7 GHz Service Licenses Yields Over $81 Billion in Gross Bids and Provides Much-Needed Mid-Band Spectrum for 5G Services"


    (Information contained in Federal Communications Commission [FCC] press release dated: February 24, 2021) Washington, February 24, 2021 - - The Federal Communications Commission today announced the winning bidders and the final bid totals in Auction 107—commonly referred to as the C-band auction. As detailed in today’s Public Notice, Auction 107 net winning bids totaled $81,114,481,921 and gross winning bids totaled $81,168,677,645. Twenty-one bidders won all of the available 5,684 licenses. “It is essential to America’s economic recovery that we deliver on the promise of next-generation wireless services for everyone, everywhere,” said FCC Acting Chairwoman Jessica Rosenworcel. “This au...
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  • Federal Election Commission says District Court issues opinion in FEC v. Rivera

    Federal Election Commission says District Court issues Opinion in FEC v. Rivera | site |



    (Information contained in Federal Election Commission [FEC] press release dated: February 23, 2021)

    Washington - - The United States District Court for the Southern District of Florida issued an Order in FEC v. Rivera (Case No. 17-22643) on Tuesday, granting the Commission’s Motion for Summary Judgment.

    In 2017, the Commission brought suit against David Rivera, a former member of Congress from Florida’s 25th Congressional District, alleging that he had knowingly and willfully made contributions in the name of another in connection with the 2012 primary election campaign of another candidate in the state’s 26th Congressional District. The Commission sought a civil penalty of $456,000, which the district court granted.
    ...
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  • Federal and State Financial Regulatory Agencies issue Interagency Statement on Supervisory Practices regarding Financial Institutions affected by Texas Winter Storms

    Federal and State Financial Regulatory Agencies issue Interagency Statement on Supervisory Practices regarding Financial Institutions affected by Texas Winter Storms | site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 22, 2021)

    Board of Governors of the Federal Reserve System
    Conference of State Bank Supervisors
    Federal Deposit Insurance Corporation
    National Credit Union Administration
    Office of the Comptroller of the Currency
    The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of Texas Winter Storms on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to
    ...
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  • Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions

    Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 18, 2021) The Federal Reserve Board on Thursday announced a final rule that is intended to reduce risk and increase efficiency in the financial system by applying netting protections to a broader range of financial institutions. The final rule amends Regulation EE (Financial Institution Netting) to apply netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to certain new entities including swap dealers. The rule would also make minor clarifications to the existing activities-based test in Regulation EE to clarify how the activities-based test applies following a consolidation of legal entities. Sections 401...
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  • Minutes of the Federal Open Market Committee, January 26-27, 2021

    Minutes of the Federal Open Market Committee, January 26-27, 2021

    Minutes of the Federal Open Market Committee, January 26-27, 2021 | site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 17, 2021)

    The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on January 26-27, 2021.

    The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board’s Annual Report. The descriptions of economic and financial conditions contained in these minutes are based solely on the information that was available to the Committee at the time of the meeting.

    FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm Minutes of the Federal Open Market Committee January 26-27, 2021:
    ...
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  • Federal Reserve Board releases hypothetical Scenarios for its 2021 Bank Stress Tests

    Federal Reserve Board releases hypothetical Scenarios for its 2021 Bank Stress Tests | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 12, 2021) The Federal Reserve Board on Friday released the hypothetical scenarios for its 2021 bank stress tests. Last year, the Board found that large banks were generally well capitalized under a range of hypothetical events but due to continuing economic uncertainty placed restrictions on bank payouts to preserve the strength of the banking sector. The Board's stress tests help ensure that large banks are able to lend to households and businesses even in a severe recession. The exercise evaluates the resilience of large banks by estimating their loan losses and capital levels—which provide a cushion against losses—under hypothetical recession scenarios that extend nine quarters into the future. "The banking sector has provided critical support to the economic re...
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  • Statement of Acting Federal Railroad Administrator Amit Bose on California High-Speed Rail

    Statement of Acting Federal Railroad Administrator Amit Bose on California High-Speed Rail | site |



    (Information contained in Federal Roadroad Administration [FRA] press release dated: February 9, 2021)


    Statement of Acting Federal Railroad Administrator Amit Bose on California High-Speed Rail

    “America has a chance to lead the world once more through innovation in infrastructure-- connecting our communities, creating good jobs, addressing climate change and ensuring equity. Passenger rail development, including world-class high-speed rail, can and must be a part of our strategy to accomplish these goals. As in many other arenas, California has taken the lead nationally to advance high-speed rail, starting an economically transformative project in the Central Valley and assuming the challenges that come with that leadership. The U.S. Department of Transportation looks forward to partnering with California...
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  • New Federal Trade Commission Data Show Massive Increase in Romance Scams, 304M Dollars in Losses

    New Federal Trade Commission Data Show Massive Increase in Romance Scams, $304M in Losses | site |



    Data spotlight shows reported losses up 50 percent from 2019


    (Information contained in Federal Trade Commission [FTC] press release dated: February 10, 2021)

    More consumers than ever report falling prey to romance scammers, according to new Federal Trade Commission data that show consumers reported losing a record $304 million to the scams last year. A newly released data spotlight shows that the amount consumers reported losing to romance scammers is up about 50 percent since 2019, and has increased more than fourfold since 2016. Scammers draw people in using pictures stolen from around the internet, building false personas that seem just real enough to be true, but always having a reason never to meet in person. Eventually, the supposed suitor will ask for money from the unwitting consumer. The impact can be major, with the
    ...
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  • FCC Commissioner Starks announces Future of Work Panel on Black-owned Businesses and the Digital Divide

    Federal Communications Commission Commissioner Starks announces Future of Work Panel on Black-owned Businesses and the Digital Divide| site |


    (Information contained in Federal Communications Commission [FCC] press release dated: February 8, 2021)

    Washington, February 8, 2021 - - On Thursday, February 11, 2021 at 2 p.m. ET, FCC Commissioner Geoffrey Starks will virtually host Future of Work: Black Owned Businesses and the Digital Divide. The continued fight for social justice and the COVID-19 pandemic has brought us an unparalleled opportunity to focus our efforts on the fundamental values of fairness and equity as we rebuild our economy and workforce for the future. This unprecedented crisis has also demonstrated that economic opportunity and access to affordable, reliable broadband are inextricably tied. The policies necessary to bridge the digital divide must center the most marginalized, including Black-owned businesses and Black workers who
    ...
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  • Federal Reserve Board announces the second Extension of a Rule to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program

    Federal Reserve Board announces the second Extension of a Rule to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program (PPP) | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 9, 2021)

    The Federal Reserve Board on Tuesday announced the second extension of a rule to bolster the effectiveness of the Small Business Administration's (SBA) Paycheck Protection Program (PPP). Like the earlier extensions, this one will temporarily modify the Board's rules so that certain bank directors and shareholders can apply to their banks for PPP loans for their small businesses. To prevent favoritism, the Board limits the types and quantity of loans that bank directors, shareholders, officers, and businesses owned by these persons can receive from their affiliated banks. However, these limits have prevented some small business owners from accessing PPP loans—especially in rural ar...
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  • FDIC Issues List of Banks Examined for CRA Compliance

    FDIC Issues List of Banks Examined for CRA Compliance

    Federal Deposit Insurance Corporation issues List of Banks Examined for CRA Compliance | site |



    (Information contained in Federal Deposit Insurance Corporation press release dated: February 4, 2021)


    The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in November 2020. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. As part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Congress mandated the public disclosure of an evaluation and rating for each bank or thrift that undergoes a CRA examination on or after July 1, 1990. You may obtain a consolidated list of all state nonme...
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  • U.S. Department of Labor ends Program that allowed Employers to self-report Federal Minimum Wage and Overtime Violations

    U.S. Department of Labor ends Program that allowed Employers to self-report Federal Minimum Wage and Overtime Violations| site |


    PAID program enabled employers to avoid accountability


    Washington, DC – The U.S. Department of Labor today announced that the immediate end of its Payroll Audit Independent Determination program launched by the department’s Wage and Hour Division in 2018. The program allowed employers to self-report federal minimum wage and overtime violations under the Fair Labor Standards Act to avoid litigation, penalties or damages, and prohibited affected workers from taking any private action on the identified violations. “Workers are entitled to every penny they have earned,” said Wage and Hour Division Principal Deputy Administrator Jessica Looman. “The Payroll Audit Independent Determination program deprived workers of their rights and put employers that play by the rules at a disadvantage. The U.S. Depart...
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  • Federal Housing Administration issues Measures to protect Health, Safety, and Homeownership Security of Borrowers Impacted by COVID-19

    Federal Housing Administration issues Measures to protect Health, Safety, and Homeownership Security of Borrowers Impacted by COVID-19 | site |



    (Information contained in U.S. Department of Housing and Urban Development press release dated: February 3, 2021)

    Washington - - Today, the Federal Housing Administration (FHA) issued a series of waivers of provisions in its Single Family Housing Policy Handbook 4000.1 that would normally require in-person contact between mortgage servicers and borrowers, including seniors with FHA-insured Home Equity Conversion (HECM) reverse mortgages. These waivers allow important mortgage servicing activities to continue, but in a manner that allows for safe social distancing to help combat the COVID-19 pandemic. “President Biden has made it clear that protecting the health, safety, and homeownership security of the nation’s most vulnerable populations, including seniors, are urgent and immediate priorities,...
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  • Federal Election Commission announces 2021-2022 Campaign Cycle Contribution Limits

    Federal Election Commission announces 2021-2022 Campaign Cycle Contribution Limits | site |




    (Information contained in Federal Election Commission [FEC] press release dated: February 2, 2021)

    Washington - - The Federal Election Commission announced updated contribution limits that have been indexed for inflation and are effective for federal elections in 2021-22. The Bipartisan Campaign Reform Act of 2002 (BCRA) included provisions that indexed some contribution limits for inflation. The limit on individuals’ contributions to candidates, for example, was set at $2,000 per election in BCRA; it is adjusted at the start of each new election cycle. Adjustments are announced after the Department of Labor determines the inflation rate for the previous election year. During the current two-year election cycle the limit for contributions by individuals to federal candidates for President, the U.S. Senate and the U.S. House of R...
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  • Staff Reporter 1
    Federal Election Commission Approves Advisory Opinion, holds Administrative Review Hearing
    by Staff Reporter 1
    Federal Election Commission Approves Advisory Opinion, holds Administrative Review Hearing| site |


    (Information contained in Federal Election Commission [FEC] press release dated: February 25, 2021)

    Washington - - At its open meeting today, the Federal Election Commission approved an advisory opinion. The Commission also held an administrative review hearing at the request of a 2016 presidential campaign committee regarding a matching funds repayment determination made by the Commission in 2019.

    Advisory Opinion Request 2021-02 (FEN-PAC) The Commission approved an advisory opinion request from the Full Employment Now-Political Action Committee (FEN-PAC), an independent expenditure-only political committee, regarding whether it may use aggregate data about FEN-PAC contributors in communications with members of Congress and Congressional candidates on matters involving legislative and policy issues. The Commission concluded
    ...
    03-02-2021, 06:17 AM
  • Staff Reporter 1
    Federal Communications Commission announces Winning Bidders in C-Band Action
    by Staff Reporter 1
    Federal Communications Commission announces Winning Bidders in C-Band Action | site |




    FCC says "Auction of 3.7 GHz Service Licenses Yields Over $81 Billion in Gross Bids and Provides Much-Needed Mid-Band Spectrum for 5G Services"


    (Information contained in Federal Communications Commission [FCC] press release dated: February 24, 2021) Washington, February 24, 2021 - - The Federal Communications Commission today announced the winning bidders and the final bid totals in Auction 107—commonly referred to as the C-band auction. As detailed in today’s Public Notice, Auction 107 net winning bids totaled $81,114,481,921 and gross winning bids totaled $81,168,677,645. Twenty-one bidders won all of the available 5,684 licenses. “It is essential to America’s economic recovery that we deliver on the promise of next-generation wireless services for everyone, everywhere,” said FCC Acting Chairwoman Jessica Rosenworcel. “This au...
    02-25-2021, 12:30 PM
  • Staff Reporter 1
    Federal Election Commission says District Court issues opinion in FEC v. Rivera
    by Staff Reporter 1
    Federal Election Commission says District Court issues Opinion in FEC v. Rivera | site |



    (Information contained in Federal Election Commission [FEC] press release dated: February 23, 2021)

    Washington - - The United States District Court for the Southern District of Florida issued an Order in FEC v. Rivera (Case No. 17-22643) on Tuesday, granting the Commission’s Motion for Summary Judgment.

    In 2017, the Commission brought suit against David Rivera, a former member of Congress from Florida’s 25th Congressional District, alleging that he had knowingly and willfully made contributions in the name of another in connection with the 2012 primary election campaign of another candidate in the state’s 26th Congressional District. The Commission sought a civil penalty of $456,000, which the district court granted.
    ...
    02-25-2021, 09:40 AM
  • Staff Reporter 1
    Federal and State Financial Regulatory Agencies issue Interagency Statement on Supervisory Practices regarding Financial Institutions affected by Texas Winter Storms
    by Staff Reporter 1
    Federal and State Financial Regulatory Agencies issue Interagency Statement on Supervisory Practices regarding Financial Institutions affected by Texas Winter Storms | site |



    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 22, 2021)

    Board of Governors of the Federal Reserve System
    Conference of State Bank Supervisors
    Federal Deposit Insurance Corporation
    National Credit Union Administration
    Office of the Comptroller of the Currency
    The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of Texas Winter Storms on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to
    ...
    02-25-2021, 08:07 AM
  • Staff Reporter 1
    Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions
    by Staff Reporter 1
    Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions | site |


    (Information contained in Board of Governors of the Federal Reserve System press release dated: February 18, 2021) The Federal Reserve Board on Thursday announced a final rule that is intended to reduce risk and increase efficiency in the financial system by applying netting protections to a broader range of financial institutions. The final rule amends Regulation EE (Financial Institution Netting) to apply netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to certain new entities including swap dealers. The rule would also make minor clarifications to the existing activities-based test in Regulation EE to clarify how the activities-based test applies following a consolidation of legal entities. Sections 401...
    02-23-2021, 03:03 AM

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