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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.
As one of the country’s generation of young bank CEOs, and one whose professional background is in risk management and regulatory compliance, Clayton Legear shares his unique outlook in the latest episode of the ABA Banking Journal Podcast. (ABA Banking Journal)
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As bank consolidation continued, between 2012 and 2017, the number of bank branches declined by 7% across all counties, according to a new research study published by the Federal Reserve. (ABA Banking Journal)
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U.S. employers added 266,000 jobs in November, up from 156,000 added in October, the Labor Department reported last week. The gains include auto workers who returned to work after a six-week strike at General Motors. The US unemployment rate fell slightly to 3.5%, a 50-year low. (CNN)
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It’s that time of the year when banking industry pundits turn their thoughts to the top trends of the upcoming year. This opinion piece takes a different turn, looking at the top debates that the industry may wrestle with in the coming decade, from branch closures to cryptocurrency and everything in between. (Forbes)
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Recent data shows that the wealth divide widens with each generation, the byproduct of wage stagnation and income inequality. Economist Gray Kimbrough has used Federal Reserve data to compare how generations fared financially at different points of their life cycles ... and it's not looking great for millennials.(Washington Post)
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Signs of moxie from the OCC and FDIC? The agencies are wading into the preemption waters to defend the “valid when made” doctrine. (ABA Banking Journal)
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According to realtor.com, home sales will drop will drop in 2020 and the housing shortage could become the worst in U.S. history, with home values shrinking in cities including including Chicago, Dallas, Las Vegas, Miami, St. Louis, Detroit and San Francisco. (CNBC)
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The number of Suspicious Activity Reports related to elder financial exploitation has risen dramatically over the past several years, as seniors face increasing threats from both domestic and foreign actors, according to a new analysis by the Financial Crimes Enforcement Network. (ABA Banking Journal)
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Ahead of a Senate Commerce Committee Hearing, ABA submitted a statement for the record outlining several key elements that should be included in potential data privacy legislation. (ABA Banking Journal)
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The federal banking agencies and the Financial Crimes Enforcement Network, in consultation with the Conference of State Bank Supervisors, have issued guidance long sought by ABA on banks’ Bank Secrecy Act obligations related to hemp producers.(ABA Banking Journal)
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As part of its ongoing commitment to transparency, the FDIC is issuing a request for information seeking comments on its regulatory actions to assess their effectiveness, cost and benefit. (ABA Banking Journal)
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The Federal Housing Finance Agency announced that it will raise the maximum conforming loan limits for mortgages Fannie Mae and Freddie Mac purchase in 2020 from $484,350 to $510,400. (ABA Banking Journal)
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