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1/15/2025

FDA Requests Information on Poppy Seed Industry Practices

The FDA is seeking information on growing, harvesting, processing, and distribution of poppy seeds to reduce opiate alkaloid content and ensure safe consumption of poppy seed products, following reports of adverse events.

1/15/2025

FHFA Adjusts Cap on Average Total Assets for Community Financial Institutions

The Federal Housing Finance Agency (FHFA) has increased the cap on average total assets for Federal Home Loan Bank members to qualify as community financial institutions (CFIs) to $1.5 billion, effective January 1, 2025, based on the annual percentage increase in the Consumer Price Index for all urban consumers (CPI-U) published by the Department of Labor (DOL).

1/15/2025

CFPB Rescinds Advisory Opinion on Earned Wage Products

The Consumer Financial Protection Bureau (CFPB) is rescinding an advisory opinion from November 2020 regarding 'earned wage' products, which it previously deemed did not involve credit under the Truth in Lending Act and Regulation Z.

1/15/2025

IRS Finalizes Regulations for Taxpayer Appeals Process

The IRS has released final regulations outlining the process for taxpayers to resolve federal tax controversies through the Independent Office of Appeals, with specific rules and exceptions for who is eligible and when consideration can be requested.

1/15/2025

DOL Finalizes Amendment to Prohibited Transaction Exemption 2002-51 to Permit Certain Transactions Under Voluntary Fiduciary Correction Program

The Department of Labor has finalized an amendment to Prohibited Transaction Exemption 2002-51, allowing employers to avoid potential civil enforcement actions and penalties by correcting eligible transactions under the Voluntary Fiduciary Correction Program, which simplifies and expands the program to make it easier for employers to use and benefit from the relief provided.

1/14/2025

Buy America Requirements for Manufactured Products

The Federal Highway Administration (FHWA) has amended its Buy America regulation to establish requirements for manufactured products in Federal-aid highway projects, consistent with the Office of Management and Budget's guidance on the Build America, Buy America Act.