As with everyone, our year at the ABA Banking Journal was dominated by the coronavirus crisis and the banking industry's response. From February to April, our site traffic quintupled as bankers—and the general public—sought information and insight on regulatory guidance around lobby closures, the passage of the CARES Act and most of all the subsequent implementation of the Paycheck Protection Program.

Mixing automation technology with useful data and smart communication encourages seamless connections that solve problems during a busy season.

What venture capital sees when it surveys the bank tech landscape.

Although 2020 was a fairly slow year for AML compliance, 2021 will likely usher in the beginning of significant changes. Regulatory concepts that have been on the back burner for years have already started evolving into real plans and actual action.

Consumer Sentiment rose in December to 80.7 according to the University of Michigan Consumer Sentiment Index. December’s figure is 18.7 points below the December 2019 index. The Current Economic Conditions Index rose 3.4 points from the previous month to 90.0, but the reading is 22.1 points below the December 2019 index. 

Banks moved heaven and earth to help clients through COVID-19. While examiners are stepping cautiously in exams, bankers must prepare for more probing questions.

The Federal Reserve has announced the members of its 2021 Community Depository Institutions Advisory Council, which includes several ABA member bankers.

With the passage of a coronavirus relief package that includes a second wave of Paycheck Protection Program funds, ABA joined a group of financial trade groups in requesting the Treasury Department and Small Business Administration issue and finalize all rules and guidance of any PPP enhancements or new small business relief programs.

A new rule proposed by the Federal Housing Finance Agency would require Fannie Mae and Freddie Mac to develop resolution plans to facilitate their rapid and orderly resolution in the event that the FHFA is appointed receiver.

The Conference of State Bank Supervisors filed a complaint in the U.S. District Court for the District of Columbia challenging the OCC’s creation of a new special-purpose national bank charter for nonbank companies and the impending charter approval of fintech Figure Technologies. The complaint is an extension of a 2017 lawsuit initiated by CSBS that argued OCC had gone beyond the authority granted to it by Congress under the National Bank Act and other federal banking laws in granting a bank charter to a nonbank company.

Amid calls by investors and others to increase environmental, social and governance-related disclosures, ABA has advised two organizations of the challenges in setting sustainability-related disclosure standards as both organizations sought comment on their respective sustainability accounting and reporting frameworks.

The Federal Reserve has proposed changes to Regulation D, which address reserve requirements of depository institutions. The proposal would eliminate references to an “interest on required reserves” rate and to an “interest on excess reserves rate.” The Fed would replace these with a reference to a single “interest on reserve balances” rate.