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Current Important Topics

Changes to U.S First-Class Mail Delivery Times

What’s Happening?

Effective October 1, 2021, the United States Postal Service (USPS) has revised its
service standards for certain First-Class Mail items, resulting in a delivery window of up
to five (5) days. Please note that this may delay your receipt of mail. Please take this
change into account when mailing items via USPS. This can include all mailed
payments, etc.

What to Do?

If you haven’t already done this, consider utilizing electronic options instead of mailing.
These options would include all areas of online, mobile, and website avenues. Most
companies now have a medium available electronically to access information or obtain
information. Many have these in a secured environment. Check with the company that
you are working with to determine what is available and always review with them their
security policies.

This is most important in rural areas. We have found that the timing from sending to
receipt has been increased. In a situation of payments or deposits take some time to
explore the online or electronic options to avoid any timing issues going forward.

Emerging Issues

Portable Retirement and Investment Account Act – H.R. 5334

09/22/21 – Introduced in the House by James A. Himes

Key Provisions:

  • Create universal, portable retirement and investment accounts that will be
    accessible to all Americans throughout their lives
  • Create accounts at birth in conjunction with the issuance of Social Security
  • Give account holders the option to choose investment options
  • Permit employer to contribute to their employee’s account

SAFE Banking Act

03/18/21 – Introduced in the House by Ed Perlmutter

04/19/21 – Passed by the House

Key Provisions:

  • Secure and Fair Enforcement Act
  • Prohibit a federal banking regulator from penalizing a depository institution for
    providing banking services to a legitimate marijuana-related business
  • Would provide that a depository institution shall not, under federal law, be liable
    ore subject to forfeiture for providing a loan or other financial services to a
    legitimate marijuana-related business
  • Places prohibitions on federal banking regulators in the examination of their
    regulated institutions