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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.
With the explosion in connected smart devices, bankers will see more opportunities to serve customers—and confront thornier risks—than ever before. (ABA Banking Journal)
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Long before Facebook formally announced its new cryptocurrency, Libra, lawmakers were uneasy about the company’s ambitions to reach into the financial lives of its users. Congress has begun asking for details about privacy protections, discussions with regulators, and whether Facebook intended to use its data to market other financial products. (Wired)
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MMT has little chance of becoming law in the next few years, but the next election cycle could improve its chances. It is something for banks to keep a watchful eye on. (ABA Banking Journal)
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As banks across the country mark American Housing Month in June, the ABA Banking Journal Podcast sat down with Michael Petrie, who leads the $4 billion Merchants Bancorp in Carmel, Ind.—one of the nation’s largest affordable housing lenders. (ABA Banking Journal)
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The Federal Reserve’s language indicates the central bank could be laying the groundwork for an interest rate cut in July or later this year, analysts told CNBC on Wednesday. (CNBC)
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U.S. new-home construction fell in May after an April reading that was stronger than initially reported, signaling stabilization in the market amid lower borrowing costs. (Bloomberg)
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As banks prepare to make the transition away from the London Interbank Offer Rate as a benchmark interest rate, the Financial Accounting Standards Board has approved staff proposals to provide relief from onerous accounting processes that would normally be required when contracts are modified. (ABA Banking Journal)
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Bankers and community groups agree on several areas of possible Community Reinvestment Act regulatory reforms, according to a summary of several roundtable meetings released by the Federal Reserve. (ABA Banking Journal)
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By a unanimous vote, the House Financial Services Committee advanced the NFIP Reauthorization Act of 2019, a compromise bill to extend the National Flood Insurance Program through Sept. 30, 2024, and make several additional reforms to the program. (ABA Banking Journal)
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The Global Supply Chain Finance Forum—which includes BAFT, ABA’s global transaction banking subsidiary—released a new guidance document on receivables discounting technique. The paper is the first in a new series intended to provide clarity and consistency on supply chain finance practices. (ABA Banking Journal)
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Ahead of the House Financial Services Committee markup, ABA joined eight other financial trade organizations in support of Rep. Carolyn Maloney’s (D-N.Y.) bill (H.R. 2513) to counter the use of shell corporations to move illicit funds. (ABA Banking Journal)
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A bipartisan group of House lawmakers have introduced H.R. 3182, a bill calling for a halt to the implementation of the current expected credit loss standard until a quantitative impact study can be completed. (ABA Banking Journal)
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July 26-29, 2019
CRCM Exam Prep
Chicago, IL
Aug 19-22, 2019
Risk Management School - Advanced
Reston, VA
Aug 19-23, 2019
Risk Management School - Foundational
Reston, VA
Sep 16-18, 2019
CFO Exchange
Louisville, KY
Sep 22-24, 2019
Bank Marketing Conference
Austin, TX
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