FDIC Rescinds Policy on Qualifications for Failed Bank Acquisitions Effective March 23

• On March 20, 2026, the Trump administration unveiled a policy framework for AI governance, organized around seven pillars emphasizing child protection, free speech, U.S. innovation, and workforce development. • The framework calls on Congress to preempt state and local AI laws, arguing AI development is an interstate issue with national security implications, and opposes new federal agencies. • It recommends sector-specific applications via existing regulators, industry standards, and AI resources like grants and tax incentives for small businesses to boost deployment.

• A late-night cloture vote on March 20, 2026, failed to advance the FY-2026 appropriations bill for the Department of Homeland Security, leaving TSA underfunded amid high travel volumes. • Daily TSA passenger throughput exceeds 2.4 million due to spring-break and March Madness demand, with missed connections at 8% versus a normal 1.6%, prompting three-hour early arrivals for domestic flights. • Senate Democratic Leader Chuck Schumer plans a Saturday vote on a TSA-only continuing resolution, but GOP leaders signal they will block it, risking Easter travel chaos.

• President Trump demands passage of the SAVE Act, which requires passport or birth certificate for voter registration, photo ID at polls, and in-person citizenship proof for mail-in ballots, refusing to sign other legislation until it passes. • The bill would compel states to share voter rolls with the federal government; Senate Majority Leader John Thune refuses to eliminate the filibuster, dimming prospects. • Political history professor Nolan Higdon warns it could disrupt midterms by forcing separate state and federal elections if rules can't be implemented in time.

• U.S. District Judge Royce C. Lamberth ruled on March 7, 2026, that Kari Lake lacked authority to reduce Voice of America to a skeleton crew, ordering hundreds of employees back to work. • The government appealed the order on Thursday, as the White House nominated Sarah Rogers to lead the parent U.S. Agency for Global Media and appointed Newsmax executive Christopher Wallace as VOA deputy director. • Congress allocated $200 million in the February budget bill, a 25% cut but bipartisan support; experts question if objective journalism will persist under State Department influence.

• White House released a national AI legislative framework on March 20, 2026, proposing federal preemption of state AI regulations while carving out exceptions for child safety, fraud, consumer protection, zoning, and government procurement. • The framework defers copyright issues to courts rather than codifying the administration's position that training AI on copyrighted material constitutes lawful fair use, contradicting Senator Blackburn's bill that would categorically exclude copyrighted works from fair use. • Provisions address energy costs for data centers, government censorship via AI platforms, and workforce displacement studies, though the line between 'AI development' preemption and preserved 'consumer protection' authority remains contentious.

• White House border czar Tom Homan met with bipartisan senators on Friday evening, March 20, proposing additional immigration enforcement concessions to resolve the ongoing Homeland Security shutdown now entering its fifth week. • Republicans offered fresh draft legislation addressing Democratic concerns, though judicial warrant requirements for immigration raids and identification masking policies remain contentious points between parties. • Senate Appropriations Chair Susan Collins called the latest GOP offer 'very fair and reasonable,' while Democratic aides indicated 'a ways to go' in securing reforms necessary for Democratic caucus support.

• Senators Thom Tillis (R-N.C.) and Angela Alsobrooks (D-Md.) announced a tentative agreement with White House officials Friday on cryptocurrency legislation addressing the clash between banks and digital asset firms over stablecoin yield payments. • The agreement aims to bar yield payments 'on a passive balance' to prevent deposit flight from traditional bank accounts to cryptocurrency platforms, addressing Wall Street concerns about customer capital migration. • The breakthrough could unblock landmark crypto regulatory legislation stalled in Senate Banking Committee since January and represents potential progress toward comprehensive digital asset framework.

• President signed S. 4138 into law on Friday, March 20, 2026, waiving the 60-day notice requirement for posthumous honorary promotion of Captain Cody Khork, United States Army. • The bill expedites the standard Congressional notification process that typically precedes military posthumous honors. • This action reflects Congressional commitment to honoring fallen service members through streamlined legislative procedures.

• Senate rejected a cloture motion on H.R. 7147, a consolidated appropriations bill for fiscal year 2026, on March 20, 2026, with 47 votes in favor and 37 opposed, failing to reach the 60-vote threshold required for advancement. • The procedural defeat underscores continued partisan divisions over government funding as the DHS shutdown approaches five weeks. • The failed vote indicates ongoing legislative gridlock as lawmakers attempt to resolve multiple appropriations disputes.

• A federal jury ruled Elon Musk liable for defrauding Twitter shareholders by intentionally driving down the stock price to renegotiate or exit the $44 billion takeover deal in 2022. • The verdict was reported by Reuters and Bloomberg News on Friday, with damages to be determined in a later phase of the trial. • This ruling holds significant implications for corporate takeover accountability, potentially affecting future high-profile mergers involving public companies.

• Joe Kent, Trump's former head of counterterrorism, resigned and urged President Trump to reverse course on his Iran policy in a resignation letter. • The departure signals deepening divisions within the Trump administration over military strikes and Iran strategy, with Kent joining other vocal critics. • Kent's resignation reflects broader fragmentation within Trump's base and among senior officials over foreign policy direction, particularly regarding Middle East engagement.