08/07/2026 Earlier this week, we reported that we expected Leader Thune would likely file cloture on a motion to proceed on the Clarity Act. This would have set up a vote roughly 48 hours later that would require 60 votes. If successful, that vote would have ended debate on the motion to proceed and allow the Senate to begin the process of debate and amendment of the Clarity Act when they return in September |
08/06/2026 Attempts to steer them toward a study rather than a threshold change were stalled. There was an effort by the amendment sponsors to include the amendment in an en bloc package. If they succeeded, the amendment would not receive a standalone vote at the committee level. Instead, it would become part of the 2026 Farm Bill, putting us in the difficult position of having to oppose the Farm Bill if the amendment were adopted. |
08/04/2026 We expect Leader Thune will likely file cloture on a motion to proceed on the Clarity Act, possibly as early as today. This would set up a vote roughly 48 hours later that would require 60 votes. If successful, that vote would end debate on the motion to proceed and allow the Senate to begin the process of debate and amendment of the Clarity Act when they return in September. |
07/22/2026 The U.S. House of Representatives passed H.R. 6955, the Main Street Capital Access Act, late last evening by an impressive vote of 270-155-1, with 56 Democratic Members voting YES, including Kentucky Congressman Morgan McGarvey. |
07/17/2026 On July 15, during a House Financial Services Committee hearing, Congressman Andy Barr addressed previous abuse of the CFPB and how greater transparency and due process is necessary for the CFPB. |
07/11/2026 The Kentucky Bankers Association, in support of the bill, stated, “The banking provisions in the 21st Century ROAD to Housing Act help families access affordable housing by giving community banks greater capacity to invest in affordable housing projects, make more mortgage loans, and keep local deposits working in local communities where they can finance homeownership and housing development. |
06/17/2026 The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued updated guidance to clarify how financial institutions can share information with each other about suspected fraud under section 314(b) of the USA PATRIOT Act. |
06/02/2026 After the passage of the IFPA, interchange became an area of defense for nearly every state bankers association and, at the forefront of every argument, the issue of federal preemption. The Illinois Bankers Association, American Bankers Association and others filed suit challenging the law while interchange bills were filed in most states during the pending litigation. |
05/20/2026 President Trump has signed an executive order directing regulators to provide guidance to financial institutions on identifying suspicious activity allegedly tied to individuals in the country illegally, and to potentially strengthen customer due diligence requirements. He also signed a separate order directing the Federal Reserve to explore expanding its payment accounts and payment services to nonbank financial institutions. |