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The U.S. Department of Education has announced the timeline and application process for the Small, Rural School Achievement (SRSA) program grants for fiscal year 2021. These grants are aimed at helping rural school districts with unique challenges by providing funds on a formula basis to eligible local educational agencies (LEAs). Eligible LEAs must submit their applications electronically by April 16, 2021, using the OMB Max Survey platform. The Department will ensure that eligible LEAs receive the necessary application links and instructions by February 10, 2021, and emphasizes the importance of submitting applications on time to ensure funding.

The U.S. Small Business Administration (SBA) has issued an interim final rule implementing the Paycheck Protection Program (PPP) Second Draw Loans under section 311 of the Economic Aid Act. This program is designed to provide financial support to small businesses impacted by COVID-19 that already received a first PPP loan. Eligibility criteria include having 300 or fewer employees and experiencing a revenue decline of at least 25% compared to 2019. Second Draw PPP Loans have terms similar to the first draw loans and are eligible for loan forgiveness if conditions are met. Comments are invited until February 16, 2021.

The Commodity Futures Trading Commission (CFTC) has adopted a final rule that establishes two exemptions from the requirement to execute certain swaps on regulated trading platforms. Swaps that qualify for clearing exemptions under existing regulations can now also be exempt from this execution requirement. Additionally, swaps made between eligible affiliate counterparties can be exempted from being executed on these platforms, even if these swaps are cleared. This rule aims to reduce unnecessary costs and enhance flexibility for specific types of swap transactions.

The Consumer Financial Protection Bureau has amended Regulation Z, which implements the Truth in Lending Act, to introduce a new exemption so certain depository institutions and credit unions no longer need to create escrow accounts for higher-priced mortgage loans. To qualify for this exemption, institutions must have assets of $10 billion or less and fewer than 1,000 such loans from the previous year, and meet other criteria like operating in rural or underserved areas. The final rule, effective February 17, 2021, aims to reduce regulatory burdens on smaller institutions while maintaining consumer protection standards.

The Bureau of the Fiscal Service, part of the U.S. Department of the Treasury, is implementing new regulations under the SECURE 2.0 Act of 2022. These regulations require the Treasury to provide states with information about unredeemed U.S. savings bonds to help locate their owners. However, the information can only be used for locating bond owners, not for claiming ownership through state escheatment laws, which attempt to take control of unclaimed property. The regulations also include privacy protections and prevent states from publicly sharing the information without Treasury's consent to avoid fraud and misuse.

The Consumer Financial Protection Bureau (CFPB) has issued a policy statement on No-Action Letters (NALs) aimed at promoting innovation and competition in consumer financial services while ensuring ethical standards and transparency. This policy outlines conditions under which companies can receive a No-Action Letter, which indicates that the CFPB will not take enforcement action against them for certain practices. It also includes safeguards to prevent abuses, such as not granting letters to companies with recent legal issues and not allowing firms to misrepresent their regulatory status. The policy is designed to foster improvements in consumer financial markets without favoring particular companies or compromising market competition.

The Federal Deposit Insurance Corporation (FDIC) has issued a final rule that updates its procedures for collecting debt. This amendment specifically allows for the collection of civil money penalties (CMPs) by including them in the scope of existing debt-collection regulations. The rule aligns with the Debt Collection Improvement Act of 1996 and aims to enhance FDIC's ability to recover debts by using existing Treasury procedures. Although the rule does not impose new requirements on insured institutions, it potentially increases the success rate of collecting delinquent CMPs.

The Department of State has updated the Exchange Visitors Skills List, which identifies countries that need people with certain specialized skills. This list is used to see if someone in the U.S. on a "J" nonimmigrant exchange visa must spend two years in their home country before applying for other U.S. visas. This updated list replaces the previous version from 2009 and incorporates factors like a country’s GDP and migration rates to decide which skills are necessary. This list helps with U.S. foreign policy and doesn't require the usual public comment process due to its relation to foreign affairs.

The Securities and Exchange Commission (SEC) is considering a proposal by NYSE Arca to list and trade shares of the Bitwise 10 Crypto Index Fund. This fund aims to invest in a portfolio of digital assets like Bitcoin and Ethereum, tracking the Bitwise 10 Large Cap Crypto Index. The SEC is seeking public comments on whether the proposal is consistent with rules designed to prevent fraud and protect investors. Interested parties can submit their views electronically or by mail by March 28, 2025.

The Securities and Exchange Commission (SEC) has introduced a new rule to enhance the reliability and integrity of submissions made through its electronic system, EDGAR. This new rule allows the SEC to take specific actions like removing sensitive personal information, blocking submissions that pose cybersecurity threats, and addressing unauthorized use or errors. Additionally, the rule outlines how the SEC will notify filers of these actions. The rule aims to provide clearer guidance on the SEC's administrative processes while maintaining the security and accuracy of information submitted through EDGAR.