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Inside Washington (07/19/2011)
* WASHINGTON (7/20/11)--Three House members from Colorado are sponsoring a bill to allow community banks with less than $10 billion in assets to amortize losses on commercial real estate (CRE) for seven years (American Banker July 19). The bill’s sponsors--Democrat Ed Perlmutter and Republicans Scott Tipton and Mike Coffman--believe the pushing out of CRE losses would free up capital that would otherwise be eroded by losses, giving community banks more capacity to lend. This is Perlmutter’s second attempt to move the Capital Access for Main Street Act through Congress. Last year, he attached the proposal to the small-business bill that created the $30 billion Small Business Lending Fund. The amendment was struck down in the Senate. The current version was assigned to the House Financial Services Committee … * WASHINGTON (7/20/11)--The House Financial Services Committee has scheduled a markup today to vote on four bills. The bill numbers and titles are: H.R. 2056, To instruct the Inspector General of the Federal Deposit Insurance Corp. to study the impact of insured depository institution failures, and for other purposes; H.R. 1539, Asset-Backed Market Stabilization Act; H.R. 2527, Baseball Hall of Fame Commemorative Coin Act; and H.R. 1751, CJ’s Home Protection Act. The session is slated to begin at 10 a.m. (ET) … * WASHINGTON (7/20/11)--The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) Monday released a final rule intended to more clearly define what businesses qualify under FinCEN rules as Money Services Businesses (MSBs) and that subject to anti-money laundering rules under the Bank Secrecy Act. FinCEN also has alerted subscribers of its publications, SAR Activity Review--Trends, Tips & Issues and The SAR Activity Review--By the Numbers, that it will launch a reader survey to “assess the value” of its editorial products. “Through the survey, we hope to learn more about (subscribers’) needs and identify opportunities to improve these products,” FinCEN said in a release. The survey will be conducted by an independent research firm and results will be reported to FinCEN only in the aggregate. Visit FinCEN’s online newsroom for more information on the MSB definition and the readers’ survey …


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