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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.
ABA Chairman Jim Edwards takes office at an unexpectedly difficult moment—and with a uniquely suited portfolio of skills.
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On the latest episode of the ABA Banking Journal Podcast, Old National Bank’s Ben Joergens discusses his bank’s experience launching a Bank On-certified account.
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Banks contribute to their communities and local organizations in ways that matter a lot during the pandemic.
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Cash incentives work, but building your brand remains the long-term imperative.
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The share of U.S. households that are unbanked continued falling in 2019, reaching 5.4%, the lowest rate yet recorded in the FDIC’s biennial How America Banks report. The figure fell from a high of 8.2% in 2011, but the report cautioned that the coronavirus pandemic—which took place after the survey was fielded—“is likely to contribute to a rise in the rate of unbanked households.”
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ABA and the Bank Policy Institute jointly backed the FDIC’s proposed new independent Office of Supervisory Appeals in a letter to the agency.
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In response to a 2018 petition from ABA and the Bank Policy Institute, the federal banking agencies have issued a proposal that would codify their joint statement clarifying that regulatory guidance does not have the force and effect of law.
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The crisis going on right now is a defining time for many banks, Jim Edwards said in his first speech as the ABA chairman.
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Three in four consumers said they were satisfied or very satisfied with the banking industry’s response to the coronavirus pandemic, according to new survey research from Morning Consult.
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For banks that have experienced rapid and possibly short-term inflows of assets and deposits during the coronavirus pandemic, the FDIC today issued an interim final rule providing relief from auditing, internal control and audit committee requirements that would have resulted from those inflows.
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While the pandemic-related recession was by far the deepest one in postwar history, “it also may go into the record books as the briefest recession in U.S. history,” Federal Reserve Vice Chairman Richard Clarida said recently.
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Credit goes to the Department of Treasury with their conclusion, documented in the Congressionally mandated study “The Current Expected Credit Loss Accounting Standard and Financial Institution Regulatory Capital” released last month. Tasked with assessing CECL’s impact on bank capital, the study concedes that it is too early to make conclusions related to CECL.
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ABA and seven other financial trade groups urged Congress to address the Small Business Administration’s approach to loan forgiveness for borrowers that received both Economic Injury Disaster Loans and Paycheck Protection Program loans.
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