Cannabis Banking
Virtually all states have now legalized cannabis in some form, whether for medical or adult use purposes, yet these transactions are still prohibited by federal law, regardless of potential cannabis rescheduling. Banks who provide services to these businesses abiding by state law —as well as millions of non-cannabis businesses that provide them products or services— can face potential civil and even criminal penalties simply for providing access to financial services. The SAFER/SAFE Banking Act is common-sense legislation that does not legalize cannabis federally but makes it easier for banks to serve state law-abiding businesses and their service providers.
Credit Union Oversight
Credit unions receive significant government subsidies in exchange for providing basic financial services to under‑resourced communities. However, unlike most tax‑exempt organizations, federal credit unions do not file IRS Form 990, resulting in limited transparency around executive compensation, community benefit, and other basic measures of public accountability.
Digital Assets
Emerging digital asset models, including payment stablecoins, must operate under regulatory standards that protect consumers and prevent firms from bypassing the supervision that applies to banks when they perform bank-like activities, a practice that creates market distortions and consumer risk. The GENIUS Act prohibited interest, yield, or rewards for stablecoin holders – though some companies are sidestepping that restriction through affiliates and exchanges, threatening community bank deposits and lending.
Farm Bill
Following the enactment of a modified version of the ACRE Act, a long-term farm bill that includes comprehensive risk management tools for farmers and ranchers, agricultural loan guarantees, rural development programs, and nutrition support and investments in conservation will help support the financial needs of agricultural communities.
Fraud Prevention
Fraud imposes an immense financial and emotional toll on consumers, with annual losses up to $196 billion. Banks invest heavily in prevention and detection, but criminals increasingly exploit social media platforms that conduct little or no vetting for advertisements, allowing scammers to impersonate trusted institutions and deceive consumers. The Safeguarding Consumers from Advertising Misconduct (SCAM) Act (S. 3774 and H.R. 7548) would help stop social media scams by requiring social media companies to verify advertisers’ identities, implement systems to detect fraudulent advertisements, and investigate and remove fake ads.
Protecting Americans' Payment Cards
The Credit Card Competition Act (S.3623 and H.R. 7035) and the 10 Percent Credit Card Interest Rate Cap Act (S. 381 and H.R. 1944) would impose government mandates on the credit card market, weakening the security of credit card transactions, limiting community bank card offerings, reducing access to credit, and eliminating important consumer benefits like credit card rewards programs.