The turnpike authority will now seek reapproval from the Oklahoma Council of Bond Oversight before it can head to the municipal bond market.

"We believe that the most effective project delivery happens before your project even begins," said DOT Volpe Center Director Anne Aylward.

Cincinnati-based Fifth Third Securities is the seventh firm charged by the Commission for failing to comply with the appropriate disclosures in connection with the limited offering exemption.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

The plaintiff that brought the case on behalf of the state says the banks inflated interest rates through a private, invitation-only VRDO index that influenced SIFMA's weekly index.

Through proposed SEC regulations, federal grants and cybersecurity insurance, areas of the public finance industry are adjusting to costly and omnipresent cyber threats. 

"I got cut," he told The Bond Buyer. "I'm looking for a new job now."

The measure would have prevented state and local public entities from requiring a company to implement an ESG policy to get a government contract.

Molloy will be leaving the banking giant for the nonprofit sector. Dan Tomson and Paul Creedon, co-heads of public finance, will be taking over his responsibilities.

From the battlefield to the boardroom, military veterans are making their mark in the financial services industry today. Hear their stories in this special podcast featuring Academy Securities, AmeriVet Securities, Bancroft Capital, Drexel Hamilton, Mischler Financial Group and Roberts & Ryan. Chip Barnett hosts. (45 minutes)

The New Mexico treasurer recently sent an alert to local governments warning that some are bypassing state banking rules on public deposits.

Diversity, equity, and inclusion concerns are exerting more influence in public finance.

When it comes to federal funds flowing to cities and states, top issues to watch are a potential claw back of stimulus aid, fresh infrastructure fund opportunities and guidance on first-of-its-kind tax credits.

The exemption, which has been recently enforced by the Securities and Exchange Commission for the first time, will likely force some underwriters to opt out of it for fear of enforcement.

Panelists at the National Federation of Municipal Analysts discussed their experiences dealing with resiliency in the face of budgetary and environmental problems.

The staying power of these laws will depend on a number of factors, including the willingness of states to accept increased borrowing costs or whether to utilize the laws' existing exceptions to obtain a more economically advantageous deal.

The resignation comes after the bank was placed on the state treasurer's list of fossil fuel industry boycotters.

The placement of Wells Fargo, JP Morgan Chase, and Bank of America on the list makes them ineligible for state and local government contracts.

The bond market is not an inherently racist market but, it does not exist in isolation from society at large. As a result, it has acted against the financial interests of municipalities whose residents are predominantly Black. 

Neal Pandozzi, a partner at the law firm of Bowditch & Dewey, talks with Chip Barnett about what environmental social and governance really means for public finance, separating politics from policy, polemics from principles. (34 minutes)