Current Issue

Amendments to Public Service Loan Forgiveness

President Trump issued an Executive Order (EO) 14235, Restoring Public Service Loan Forgiveness, revising the PSLF to exclude organizations deemed to have a “substantial illegal purpose” which includes those that support terrorism, illegal discrimination, violation of state tort laws, child abuse, or illegal immigration. The EO directs the Department of Education to amend PSLF regulations to disqualify employees of these organizations from participating in the program. 

Establishment of Bitcoin Reserve

President Trump issued EO 14233, Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Strategic Stockpile, directing the Secretary of Treasury to create a strategic Bitcoin reserve funded by Bitcoin received through forfeiture or penalties. The order also establishes a Digital Asset Stockpile to manage other digital assets held by the government.

Commercial Advertisement Loudness Mitigation (CALM) Act Implementation

The Federal Communications Commission (FCC) issued a Notice of Proposed Rulemaking to assess the effectiveness of the CALM Act, which regulates the volume of TV commercials. The proposal seeks consumer and industry input about commercial volume and whether rule amendments are needed. Comments due April 10. 

Bank Merger Transactions

The Federal Deposit Insurance Corporation (FDIC) proposed rescinding the 2024 Statement on Bank Merger Transactions and reinstating the previous guidance. The FDIC noted that the 2024 policy led to uncertainty in the bank merger application process particularly as it pertains to competition analysis and the evaluation of public benefits. Comments due April 10.

Immigration and Nationality Act Registration

The Department of Homeland Security (DHS) issued an interim final rule amending regulations to designate a new general registration form for immigrants subject to registration and fingerprinting requirements under the Immigration and Nationality Act (INA). The rule also expands the types of documentation that may serve as evidence of alien registration. Comments due April 11 with the rule effective following that date.

Energy Conservation Standard Delays

The Department of Energy issued two final rules delaying the effective date of amendments to Energy Conservation Standards for Commercial Refrigerators and Freezers, as well as test procedures for compressors. The rule’s implementation is postponed until May 20, 2025, to allow further review under the Regulatory Freeze Pending Review memorandum.