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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 small and middle market businesses seek to capitalize on a post-COVID bounceback, new survey research from Umpqua Bank shows that the business outlook is positive as firms have made substantial changes to respond to COVID.
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Progress on vaccinations has continued to strengthen indicators of economic activity and employment, the Federal Open Market Committee said this week, adding that while the sectors most adversely affected by the pandemic have shown improvement, they have not fully recovered.
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George Floyd’s murder triggered statements—and DEI actions—at banks of all sizes. More than a year later, how have banks changed?
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With the right blend of people, empowerment, customized solutions and technology, banks are well-positioned to be heroes by growing with small businesses and supporting their efforts.
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Credit applications have largely rebounded to their pre-pandemic levels after a significant drop during the crisis, though there was substantial variation in the path to recovery for different credit types, according to a new research brief from the Consumer Financial Protection Bureau.
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From its origins as one of the original “mobile banks” in the 1990s—designed to serve truckers across the country through a network of truck stops—TAB Bank has evolved into an innovative digital bank serving businesses across sectors and around the country. President and CEO Curt Queyrouze discusses the bank's vision on this podcast episode.
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The Small Business Administration has released guidance on how it will accept Paycheck Protection Program loan forgiveness applications directly from borrowers—bypassing the lending institutions—for loans of $150,000 or below.
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ABA and a coalition of financial trade groups wrote in support of the Adjustable Interest Rate (Libor) Act to address “tough legacy” contracts that currently reference Libor but lack adequate fallback language and can’t be amended to add it.
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The OCC announced that Darrin Benhart has been tapped to serve as climate change risk officer at the agency, a newly created position focused on promoting climate change risk management at banks.
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A U.S. central bank digital currency “is unlikely to be an equally effective tool for all of the purposes for which it has been advanced, or even to be effective for some stated purposes at all,” the Clearing House said in a recently published paper.
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As advocated by ABA, the Conference of State Bank Supervisors has published model state regulatory prudential standards for nonbank mortgage servicers.
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In a letter sent ahead of a House Committee on Financial Services markup, ABA expressed support for H.R. 4590, the Promoting New and Diverse Depository Institutions Act, introduced by Rep. Jake Auchincloss (D-Mass.).
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