Federal Reserve Board approves Basel III accord; community banks spared (for now)

On July 2, 2013, the Federal Reserve Board (FRB) approved sweeping new capital standards for the nation’s biggest banks, implementing the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Final Rule).






Historic week for U.S. immigration

On June 26, the Supreme Court issued its decision in United States vs. Windsor, holding that certain provisions of the Defense of Marriage Act (DOMA) are unconstitutional. DOMA denied thousands of legally married same-sex couples many important federal benefits, including immigration benefits. In addition, On June 27, the U.S. Senate voted 68-32 in favor of final passage of Senate Bill 744 entitled the “Border Security, Economic Opportunity, and Immigration Modernization Act of 2013,” moving the United States one step closer to Comprehensive Immigration Reform.



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