Legislation

The Senate passed the Republican-led tax and spending package, known as “One Big Beautiful Bill” by the narrowest of margins on July 1. Three Republicans broke party ranks to oppose the measure, resulting in a 50-50 split among voting members and Vice President J.D. Vance being called upon to cast the tie-breaking vote. Read on »

The real estate finance industry welcomed the news that U.S. Treasury Secretary Scott Bessent asked lawmakers to strike “retaliatory tax measures” from the congressional budget package. Dodd Frank Update spoke with an expert from the Commercial Real Estate Finance Council about the effect such a tax would have on real estate investments. Read on »

The Senate was divided over an amended budget bill provision proposing severe cuts to the Consumer Financial Protection Bureau’s annual funding ahead of its vote to pass the measure July 1, with Vice President J.D. Vance casting the tie-breaking vote. Read on »

Perhaps the most consequential scrutiny of the Republican-led congressional budget package lies in the hands of the Senate parliamentarian’s office, which determined several of the budget bill’s provisions violate Senate rules pertaining to budgetary matters while deeming others to be permissible. Read on »

Lawmakers are being urged to support policies designed to help builders increase the production of quality, affordable housing. More than 1,000 builders, remodelers and associates of the residential construction industry brought their advocacy efforts to Washington, D.C. for the National Association of Home Builders 2025 Legislative Conference. Read on »

Community banking advocates across the country urged Senate leaders to include legislation to reduce loan interest costs for farmers, ranchers and rural homeowners in a letter endorsed by the Independent Community Bankers of America and 44 state affiliates. Read on »

The mortgage industry welcomed the passage of bipartisan legislation in the Senate prohibiting the use of “trigger leads.” The vote came shortly after nearly identical legislation passed the House Financial Services Committee with a minor amendment. Read on »

A myriad of trade advocates emphasized their support for legislation seeking to impose a widely supported prohibition on “trigger leads,” sold by credit agencies when consumers apply for residential mortgage loans, in letters to House committee leaders. Read on »

Legislation seeking to establish a clear regulatory framework for stablecoins has drawn pushback from the financial services sector over a requirement pertaining to credit card transactions. Critics claim this provision will increase fraud risk and increase credit costs. Read on »

A bipartisan coalition of 40 state attorneys general wrote to Congress opposing legislation that would prevent states from enacting or enforcing laws or regulations on artificial intelligence and automated decision-making systems for 10 years. Read on »