The Federal Financial Forum

From: Pensions & Investments

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Rep. Tim Walberg, R-Mich., chairman of the Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions, in a statement called the safe harbors “a misguided regulatory loophole that would discourage small businesses from providing retirement benefits and put the hard-earned savings of workers at risk.”

Mr. Walberg chaired a subcommittee hearing Thursday on regulatory barriers to retirement saving, including what he called the “flawed fiduciary rule” from the Department of Labor that becomes effective June 9. . . .

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From: Financial Regulation News

The Consumer Financial Protection Bureau (CFPB) recently launched an inquiry into ways to gather and use information to identify the financing needs of small businesses, especially those owned by women and minorities.

Public information on this lending market is inconsistent and incomplete, so CFPB is seeking public feedback to help it better understand how to bridge this information gap.

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From: Financial Regulation News

The U.S. Government Accountability Office recommended comprehensive reform to improve the solvency and enhance the resiliency of the National Flood Insurance Program (NFIP).

GAO said Congress should consider reform in six areas: outstanding debt, premium rates, affordability, consumer participation, barriers to private-sector involvement, and NFIP flood resilience efforts.

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