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Administration Updates
Treasury Issues First Ever National Strategy for Financial Inclusion
The strategy, requested by Congress, highlights objectives and recommendations for policymakers and other stakeholders to help ensure consumers can access safe financial products and services, according to the department. The strategy urges all levels of government, including state policymakers, to “implement policies that promote financial inclusion, streamline access to government financial services, and ensure robust protections for consumers, including underserved consumers who may be more likely to be targeted by predatory actors.” The department’s recommendations include:
- Promoting access to transaction accounts that meet consumer needs. A basic transaction account would help meet the needs of underserved communities by eliminating barriers that have prevented individuals from opening bank accounts, such as high fees, overdraft charges, minimum balance requirements or a record of credit or banking problems. Governments should also continue working with companies to expand access to digital banking.
- Increasing access to safe and affordable credit. Government, banks and consumer reporting agencies should work together to find ways to use alternative data, such as cash flow or utility payments, as part of credit scoring to help enable individuals who lack or have no credit history gain access to credit.
- Expanding equitable access to savings and investments. Employers in both the public and private sectors should advance employees’ ability to save for retirement by providing incentives through vehicles that facilitate emergency savings as well as providing financial wellness programs and financial planning services.
- Improving the inclusivity of financial products and services provided or backed by the government. The government should design and deliver its financial products and services, such as income support programs, Direct File and disbursements of public payments, with easy access and minimal fees to enhance financial inclusion.
- Fostering trust in the financial system by protecting consumers from illegal and predatory practices. The strategy encourages financial regulators to enforce consumer protection and fair lending laws to ensure that financial products and services are “safe, transparent and fair.”
HHS Announces New Health Workforce Funding and Resources
As part of the Health Workforce Initiative, the Department of Health and Human Services has issued two funding opportunities totaling over $84 million to increase the behavioral health workforce. States and others may apply to the Behavioral Health Workforce Education and Training Program for Professionals and the Graduate Psychology Education Program. Applications are due on Jan. 21, 2025.
The department also announced the launch of its HHS Health Workforce website, which highlights resources available to people interested in joining or advancing within the health workforce. Read more
Lead and Copper Improvements Final Rule
The Environmental Protection Agency has published the final rule on requirements for lead and copper in the Federal Register. The rule updates the National Primary Drinking Water Regulation for lead and copper and supersedes the 2021 revisions. In the Federal Register notice, the EPA identifies adjustments to previous requirements, including removing lead trigger levels, lowering lead action levels, improving corrosion control treatment and adjusting tap-sampling procedures. New requirements include additional public education and consumer awareness activities, as well as water sampling for lead and copper contaminates in schools and child care facilities. The rule goes into effect on Dec. 30. NCSL submitted comments on Feb. 1 this year regarding the then-proposed rule. Read NCSL’s letter here.
EPA Strengthens Lead Paint Standards
The Environmental Protection Agency has announced finalized requirements for identifying and cleaning up lead paint dust found in homes and child care facilities built before 1978. The final rule is intended to reduce lead levels in dust that the agency recognizes as hazardous. The rule changes standards for allowable lead dust from 10 micrograms per square foot to 5 micrograms per square foot for floors, and from 100 micrograms per square foot to 40 micrograms per square foot for windowsills. Read more
$3.46B Investment in Grid Infrastructure
The Department of Energy has announced plans to spend $3.46 billion on 58 projects across 44 states to strengthen their energy grids as older grids struggle to keep up with frequent extreme weather events. Projects will take place in specific states, including Georgia, Pennsylvania, Michigan, Louisiana and Oregon, as well as in larger regions to expand transmission across multiple states, according to the DOE. The funding from the Bipartisan Infrastructure Law is distributed through the DOE’s Grid Resilience and Innovation Partnership Program. Read more
$2.4B for New Rail projects
The Department of Transportation’s Federal Railroad Administration announced plans to invest more than $2.4 billion in 122 rail-improvement projects. The funding, provided through the Bipartisan Infrastructure Law and administered by the Consolidated Rail Infrastructure and Safety Improvements Program, aims to “make rails safer, more reliable and more resilient” in 41 states, while lowering pollution and shipping costs, according to the DOT. Read more