Tennessee U.S. Representative Andy Ogles (R-TN-05) introduced the companion legislation in the House of Representatives this week for Ohio U.S. Senator JD Vance’s (R-OH) bill that would restrict the Chinese government’s access to American capital markets and exchanges.
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The U.S. Department of the Treasury has awarded more than $125 million to Georgia-based institutions under programs that support community financial institutions to help small and minority-owned businesses.
The 2021 Consolidated Appropriations Act established the Emergency Capital Investment Program. Under the program, the feds allocated $9 billion to Community Development Financial Institutions and Minority Depository Institutions.
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Ohio Attorney General Dave Yost and 19 other state attorneys general have asked President Joe Biden and Treasury Secretary Janet Yellen to withdraw a plan to allow require banks, credit unions and other financial institutions to report massive amounts of personal financial data to the Internal Revenue Services in a stated effort to track down tax cheats.
The proposal within the $3.5 trillion Build Back Better budget reconciliation package would require financial institutions to supply data on accounts of $600 or more with $600 or more in annual transactions.
Thanks to a recently implemented law from the Virginia General Assembly, emergency relief payments from the federal government to Virginians will be protected from being seized or garnished by debt collectors and creditors.
The new law, stemming from House Bill 5068, comes as Virginians and Americans from across the country are starting to receive a second round of relief payments relating to the ongoing COVID-19 pandemic.
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In its Article I, Section 8, Clause 5, the United States Constitution provides: “The Congress shall have Power…To coin Money, [and] regulate the Value thereof….” And since the Constitution’s drafting in the year 1787, cash has played a vital role in the nation’s economy as the generally-accepted medium of exchange. Barter still exists, but on a relatively limited basis and, although there has been chatter for decades about America one day becoming a completely “cashless” society, that day has yet to arrive. In modern times, there are, of course, multiple methods of payment for goods and services as well as to pay down debt in installments — or to completely extinguish it in one fell swoop. In addition to cash, there are checks, credit cards, electronic money transfers and other means of payment. Pursuant to the above-quoted provision from the U.S. Constitution, Congress enacted the Coinage Act of 1965 (last amended by two bills approved by the 97th Congress in Public Laws Nos. 97-258 and 97-452; the 1965 Act is the successor to the Coinage Act of 1792 as well as the Coinage Act of 1873). The 1965 version includes Title 31 United States Code Subchapter 5103 which, from 1983…
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