Washington

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.

SEC Commissioners gave the green light on Wednesday for the staff to propose two new amendments to Rule 15c2-12 that would require issuers and borrowers to disclose certain information about bank loans and private placements, which are increasingly used alternatives to publicly offered muni bonds.

Brookings Institution has extended its deadline for proposals for its sixth annual municipal finance conference to March 6.

Mark Kim from DC Water will become Lynnette Kelly's No. 2 at MSRB, while Lakshmi Kommi of the City of San Diego will replace him on the MSRB's board of directors.

Some analysts see an opportunity in hospital bonds, as the spreads in that sector have continued to widen even as the push to repeal the Affordable Care Act loses steam.

Troubles at the Oroville Dam in Northern California highlight the need for infrastructure maintenance and investment.

Howard University and Rhode Island-based vendor Corvias say their 40-year deal to renovate school halls will change the face of public-private partnerships.

The administration wants tax reform to be passed by August, while hundreds of groups press lawmakers to preserve full muni tax exemption.

Threats to the future of the North American Free Trade Agreement and the cross-border commerce it facilitates could reverberate through the trade-oriented West Coast economy.

House members reintroduced a bill to modernize and ease tax law restrictions for small bond issues used to finance manufacturing facilities.

Reason Foundation says $12 billion privately financed Texas bullet train proposal would require public funding.

A trade war or trade slowdown with China could impact some credits, with West Coast container ports particularly vulnerable.