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This ABA Banking Journal newsletter is a free, twice-monthly supplement to the ABA Banking Journal magazine intended to help you stay on top of industry and policy news.
You can also stay abreast of banking news by visiting aba.com/BankingJournal, home to ABA Daily Newsbytes stories, digital exclusives, the ABA Banking Journal Podcast and more.
Square Inc., the payments company led by Twitter chief executive Jack Dorsey, is refiling its application with U.S. state and federal regulators for a bank license. If the license is granted, the new unit will mainly offer deposit accounts and loans to small businesses. (Reuters)
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On the latest episode of the ABA Banking Journal Podcast, Julieann Thurlow — president and CEO of Reading Cooperative Bank in Reading, Mass. — discusses a variety of ways her community bank drives innovation. (ABA Banking Journal)
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The Federal Reserve raised its benchmark interest rate on Wednesday and signaled that it expects additional rate increases next year, in a display of measured confidence in the economy that came despite financial market worries and political pressure to suspend rate increases. (New York Times)
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While many are quick to characterize wealth services as a smart and steady return on investment, building a wealth and trust unit that makes sense for the individual institution takes a wealth of careful consideration. (ABA Banking Journal)
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United Community Banks, Inc. CEO Lynn Harton has more than three decades of experience in the banking world, and he knows that in community banking, it’s all about customer service. (Chief Executive)
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The new director of the Consumer Financial Protection Bureau, Kathy Kraninger, is halting plans to change the agency’s name, citing the high costs and potential confusion of rebranding the financial watchdog. (The Hill)
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ABA President and CEO Rob Nichols appeared on Kevin Cirilli’s Bloomberg Radio show yesterday to discuss the legislative outlook for the banking industry in the 116th Congress, which convenes on Jan. 3. (ABA Banking Journal)
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As the Financial Stability Oversight Council met to discuss, among other topics, the Financial Accounting Standards Board’s Current Expected Credit Loss model for loan loss accounting, 28 Republican House members urged a delay in CECL’s implementation date and a comprehensive study of its effects on the banking industry and access to credit. (ABA Banking Journal)
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In a comment letter this week, the ABA recommended that the Small Business Administration reconsider several elements of changes to its Express loan offerings, part of its popular 7(a) program. (ABA Banking Journal)
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The financial regulatory agencies have issued a proposed rule to implement a section of the S. 2155 regulatory reform law that grants an exemption from the Volcker Rule for community banks. (ABA Banking Journal)
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