Finance, investment and tax-related legislation

Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers.

Bankers had worried about Rep. Maxine Waters' control of the Financial Services Committee, but many now say the Democrat’s working relationship with the panel’s top Republican is refreshing.

A special committee in the state Senate has recommended not to move forward on a proposed bill to tax credit unions above a certain asset threshold.

The Senate Banking Committee chairman said he wants to revise legislation enabling banks to serve marijuana businesses to ensure it does not benefit vaping providers that have sparked safety concerns.

One bill would tax credit unions in the Sunflower State with at least $100 million in assets.

As Banking Committee Chairman Mike Crapo works on legislation enabling banks to serve cannabis businesses, one area of focus is combating risks tied to “legacy cash” that has accumulated in the marijuana industry.

The legislation included changes designed to attract more Republican support, which is key to the measure ultimately becoming law.

The Banking Committee chairman's comments have advanced legislative efforts, but questions remain about where he'll take the issue.

The legislation takes aim at third-party bank service vendors, the backlog of FHA appraisals, rural housing assistance and other issues where there is broad agreement.

The Treasury secretary said he hopes lawmakers will back reforms of Fannie Mae and Freddie Mac within three to six months.