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WASHINGTON—Senators Alex Padilla (D-CA) and Kevin Cramer (R-ND) have introduced legislation—the NCUA Central Liquidity Facility Enhancements Act—to make permanent the temporary enhancements Congress made to NCUA’s Central Liquidity Facility during the COVID-19 crisis.

WASHINGTON—One day after 52 state bankers associations called on the Treasury Department to examine whether credit unions still align with the intent of their tax-exempt status, the Defense Credit Union Council is urging Treasury to launch a formal review into the implications of banks operating under Subchapter S corporation status.

WASHINGTON—The Federal Reserve Wednesday held its benchmark interest rate steady at 4.25% to 4.50%—a move largely anticipated by markets—but not without internal disagreement.