|
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.
On the latest episode of the ABA Banking Journal Podcast, Brian Miller, the Treasury Department special inspector general for pandemic relief, discusses the effectiveness of COVID relief programs and investigations into fraud involving these programs.
|
Banks that speak about their performance showing up for the country in a moment of need are connecting to new customers and building brand.
|
Banks and credit unions are the most trusted financial institution, according to a new survey released by Morning Consult, with 61% of consumers saying they “naturally trust banks.”
|
Fighting credential stuffing requires planning and coordination across security, fraud, technology and customer experience teams.
|
Consumer prices for April showed a 4.2% year-on-year increase today, outpacing analysts’ expectations. What does rising inflation mean for the path of the economy in 2021? On this episode of the ABA Banking Journal Podcast, ABA Economic Research Specialist Hugo Dante goes beyond the headlines with inflation figures.
|
The share of unbanked American adults dipped to 5% in 2020, according to the Federal Reserve’s latest annual Report on the Economic Well-Being of U.S. Households.
|
In a virtual meeting with Treasury Secretary Janet Yellen this week, the ABA board and Yellen discussed the current state of the economy and the role banks can play in facilitating robust economic growth in both the short term and long term.
|
ABA, along with five financial services trade groups, released a white paper today outlining obstacles and solutions for improving financial inclusion for the unbanked population and for reducing the use of high-cost nonbank financial products and services.
|
The FDIC will soon issue a request for information to seek additional information on how banks are using or planning to use digital assets, and “what, if anything, the FDIC should be doing in this space,” FDIC Chairman Jelena McWilliams said in remarks during an industry event.
|
ABA expressed support for the bipartisan New Markets Tax Credit Extension Act: “By making NMTC permanent, our nation’s small businesses, investors and community development professionals will have access to the vital resources needed to improve our nation’s communities while generating long-term economic growth.”
|
The economic projections coming out of the Federal Open Market Committee’s April meeting were slightly stronger than the group’s March forecast. In minutes from the committee’s April 27-28 meeting, members said that real GDP growth was projected to post a “substantial increase” this year, along with a “rapid decline” in the unemployment rate.
|
ABA and five other trade groups have urged House and Senate appropriations leaders to support $1 billion in funding for the Community Development Financial Institutions Fund in fiscal year 2022, with $100 million allocated for the Bank Enterprise Award Program.
|
Ahead of oversight hearings of the prudential regulatory agencies, ABA called on Congress to address the changing face of large credit unions.
|
|
