|
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.
The fourth season of the ABA Banking Journal Podcast kicks off with Minnesota community bank CEO Andy Schornack. (ABA Banking Journal)
|
With many banks getting a crash course in serving remote customers, military banks have plenty of experience to share on connecting with clients across long distances. (ABA Banking Journal)
|
The ongoing digital shift in banking will provide more opportunities to unlock better customer experiences. (ABA Banking Journal)
|
In a recent letter, the ABA offered several recommendations for the Federal Reserve to consider as it continues to develop its FedNow service. The letter came after the Fed last month released further details about key features of its “initial service offering,” including fraud prevention, liquidity management and interoperability. (ABA Banking Journal)
|
In a comment letter to the CFPB, the ABA offered support for recent proposals that would make changes to the Qualified Mortgage rule and ultimately allow the temporary “GSE patch”—which grants QM status to loans eligible to be purchased or guaranteed by Fannie Mae and Freddie Mac—to expire once the changes take effect. (ABA Banking Journal)
|
ABA announced that the Consumer Financial Protection Bureau’s Kirsten Sutton has been selected to serve as executive director of its Card Policy Council, the leading voice on legislative, regulatory and communications issues facing credit card issuers and payment card networks. (ABA Banking Journal)
|
ABA joined a group of financial and retail trade groups in a letter to Sens. David Perdue (R-Ga.) and Richard Blumenthal (D-Conn.) expressing support for a one-year extension of the Covered Business Method program, which protects the rights of legitimate patent holders while providing an efficient alternative to patent litigation over questionable patents. (ABA Banking Journal)
|
The ABA and the North Carolina Bankers Association have begun running new voter education ads thanking Rep. Ted Budd (R-N.C.) for his support of the Paycheck Protection Program and small
businesses during the coronavirus pandemic. (ABA Banking Journal)
|
In a follow-up to an April letter discussing COVID-19-related challenges regarding tax withholding, the ABA, the International Banking Federation and several other trade associations wrote to the Organization for Economic Cooperation and Development and the European Commission seeking additional relief for administering tax regulations for cross-border transactions. (ABA Banking Journal)
|
When loan officers use social media to educate, clear up confusion and offer guidance, they can be a source for good in difficult times while also building trust and closing more deals. (ABA Banking Journal)
|
COVID-19 forbearance programs—and the rules, regulations and requirements that govern them—present a host of new and unique compliance challenges for mortgage servicers. (ABA Banking Journal)
|
Economic and business-related effects vastly outrank health outcomes when it comes to the impact of COVID-19 on low-to-moderate-income communities, according to a recent Federal Reserve survey. (ABA Banking Journal)
|
From jobs to savings to retirement plans, the coronavirus pandemic has upended many Americans’ financial lives. While millions are still unemployed and many have seen their emergency savings run dry, many Americans are saving more and spending less. In a new CNBC + Acorns survey, 46% said they are “more of a saver now” compared to before the pandemic. (CNBC)
|
|
