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April 11, 2025 |
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 Features
The reality is that the banking industry is not the only one knocking on lawmakers’ doors with a list of things to accomplish.
ABA and the state associations are working to advance the industry’s priorities, outlined in ABA’s 2025 Blueprint for Growth.
In his opening remarks for the ABA Washington Summit this week, President and CEO Rob Nichols renewed the association’s call for a "coordinated, whole-of-government approach" to the "insidious threat" of fraud. Specifically, Nichols urged Congress and the Trump administration to establish a national office to support scam and fraud prevention as part of a "national strategy to reduce the number of Americans who fall victim to these scams."
The Consumer Financial Protection Bureau’s cap on overdraft fees may only apply to large banks, but community banks and the customers they serve will be hurt as well, according to an opinion piece by Haylie Calicott, vice president and business development officer at First Security Bank and Trust Co. in Oklahoma City.
Nearly nine in 10 Americans with a bank account (89%) say they are "very satisfied" or "satisfied" with their primary bank and 93% rate their bank’s customer service as "excellent," "very good" or "good," according to a new survey conducted by Morning Consult on behalf of the ABA.
The Treasury Department intends to play a greater role in bank regulation with more regulatory tailoring for community banks, which could include exempting them from some requirements entirely, Treasury Secretary Scott Bessent said at this week's ABA Washington Summit.
A cyber incident involving the Office of the Comptroller of the Currency’s email systems led to unauthorized access to highly sensitive information about the financial condition of financial institutions the agency supervises, according to a notice to Congress by the OCC. The notice is required by the Federal Information Security Modernization Act.
The FDIC will waive some requirements for large bank resolution planning and take steps to boost de novo bank formation, particularly in areas of the country without a local community bank, Acting FDIC Chairman Travis Hill said in remarks at the ABA Washington Summit.
Last year, financial institutions filed 1,246 Bank Secrecy Act reports that identified suspected fentanyl-related activity amounting to approximately $1.4 billion in suspicious transactions, the Financial Crimes Enforcement Network said today in a financial trend analysis.
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