Washington

The tax exempt bond office will be combined with the office of Indian tribal governments and headed by the ITG director.

The House Financial Services Committee and Senate Banking Committee both approved companion bills that would end a legal loophole that lawmakers allege allowed broker-dealers to defraud Puerto Rico investors have received committee approval and are now pending before the House and Senate.

Infrastructure needs direct federal funding, not tax breaks for private investments, U.S. Sen. Charles Schumer said in New York.

The nation's deteriorating infrastructure will continue to decline without a resolution of a $2 trillion funding shortfall over the next 10 years, the American Society of Civil Engineers said.

Former Washington State Treasurer Jim McIntire has joined Star Mountain Capital, a lower middle-market asset management firm, as a strategic advisor serving public pensions and other institutional investors.

Louisiana Gov. John Bel Edwards wants coastal protection projects added to the president's high-priority infrastructure list in order to receive expedited federal approval.

A guilty plea from Aaron Troodler, the former executive director of the Ramapo Local Development Corp., for criminal securities fraud means he could face a maximum of 25 years in prison.

OppenheimerFunds will acquire Seattle fund manager SNW Asset Management to expand its high-quality municipal bond offerings.

The Glades Correctional Development Corp. in south-central Florida shorted its March 1 debt-service payment, the trustee said in a notice, as the date for a taxable bond exchange approaches due to an IRS ruling.

Dealers are criticizing a proposed standalone minimum denomination rule from the Municipal Securities Rulemaking Board, saying it would hamper liquidity and hurt investors by limiting the liquidity of below-minimum denomination positions in municipal securities.