President Trump today signed S. 2155—which was passed earlier this week by a bipartisan majority in the House—into law. The new law is a critical first step toward bringing much-needed regulatory relief to help banks better serve their customers and communities, and came as a result of a persistent, eight-year advocacy effort on the part of bankers, state associations and ABA to address some of the unintended consequences of Dodd-Frank. (ABA Banking Journal)

Today marks the effective date for the European Union's General Data Protection Regulation (GDPR), possibly the biggest change ever enacted to address data privacy laws. While focused on the EU, the new rules have implications for U.S. internet users as well. (NPR)

As the news about cyber breaches continues to show, businesses cannot rely on prevention strategies alone to protect themselves from cyber incidents. Nor are banks immune. For example, in 2016, the bank subsidiary of a major British retailer reported a hack that resulted in a $3 million loss. All companies must consider how they will respond once their systems are breached. (ABA Banking Journal)

In a typical bank merger, only one brand survives. Gulfport, Miss.-based Hancock Bank and New Orleans’ Whitney Bank merged seven years ago and are only now getting around to adopting a single name: Hancock Whitney Bank. The banks shared their remarkable shared story in the latest episode of the ABA Banking Journal Podcast. (ABA Banking Journal)

Many experts are predicting that the Fed will almost certainly raise interest rates in June, but a lower than expected rate of economic growth may limit what the Fed can do. (CNBC)

Banks and financial institutions are investing significantly in innovations to provide a better customer experience and differentiate themselves, but new technology can come with ethical implications. (PYMNTS.com)

By a bipartisan vote of 69 to 24, the Senate has confirmed Jelena McWilliams as chairman of the FDIC. McWilliams was most recently EVP and general counsel at Cincinnati-based regional bank Fifth Third, which she joined early in 2017. (ABA Banking Journal)

In a memo to House Financial Services committee members, ABA urged lawmakers to reject a provision of the Foreign Investment Risk Review Modernization Act of 2018 that would delay the effective date of risk-based capital rules for credit unions for two years. (ABA Banking Journal)

ABA wrote to House Armed Services Committee leaders today in support of an amendment added to the National Defense Authorization Act for Fiscal Year 2019 that would help level the playing field between credit unions and banks serving military bases. (ABA Banking Journal)

The Office of the Comptroller of the Currency (OCC) is pushing U.S. banks to offer short-term loans to customers with troubled credit histories, a practice shunned by the regulator five years ago. The new policy is meant to encourage banks to compete in a space now dominated by storefront "payday" lenders. (The Hill)