Governmental Affairs News: May 1, 2024

Legislative updates: Congress was out last week for the Passover holiday and the House Financial Services committee will hold a hearing on merger policies of the federal banking agencies today and the Senate Banking committee will hold a hearing on higher prices on Thursday. 

​Marijuana reclassification: Yesterday, the U.S. Drug Enforcement Administration announced that it will move to reclassify marijuana as a less dangerous drug, a step clears the last significant regulatory hurdle before the agency’s biggest policy change in more than 50 years can take effect.

Minnesota Bankers Association lawsuit: Last month, a Minnesota federal district court dismissed the Minnesota Bankers Association’s and Lake Central Bank’s lawsuit challenging the FDIC’s supervisory guidance on NSF fees.

America’s Credit Unions interchange webinar, Tomorrow May 2: America’s Credit Unions announced a webinar on Thursday May 2 at 1:30 PM CST to go over efforts among federal regulators that could significantly alter credit unions’ operating landscape.

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