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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.
Boards know how vital CEO succession planning is, but sometimes a stark reminder arrives to drive the point home. While a sudden profound loss can hit like an earthquake, a bank that’s ready to pull its succession plan off the shelf and put it into action is in the best position to handle the shockwaves.
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Once you have taken time to consider the long-term goals of your website, it is time to implement conversion points that will turn site visitors into new customers.
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Only 19 percent of business leaders reported optimism about the national economy for the year ahead, the lowest percentage recorded in 12 years of survey data.
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Segmentation analysis of your customers—and understanding what matters most to them—will allow you to develop targeted products, services and sales strategies.
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Without collaboration between compliance teams and investment professionals, banking teams waste precious time that may result in missing opportunities.
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In this bonus episode of the ABA Banking Journal Podcast, ABA’s Peter Cook and Melissa Murray discuss the ABA Foundation’s signature recognition program, the Community Commitment Awards. Applications are now open for the 10th annual awards, which recognize and promote extraordinary bank commitment to communities and the innovative, high-impact programs that improve the quality of life for customers and the communities banks serve.
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As part of its ongoing efforts to address so-called “junk fees,” the CFPB issued an advisory opinion stating that the Fair Debt Collection Practices Act prohibits debt collectors from charging “pay-to-pay” or convenience fees—which include fees imposed for making a payment online or by phone—unless those fees are expressly authorized by the agreement creating the debt or the amount of the fee is affirmatively permitted by law.
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In a joint white paper, ABA, along with the Consumer Bankers Association, Independent Community Bankers of America and the U.S. Chamber of Commerce, detailed why the CFPB’s recent “update” to its UDAAP exam manual and its announcement that it would begin examining financial institutions for alleged discriminatory conduct using “unfairness” exceeds the bureau’s legal authority.
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Large banks continued to maintain strong capital levels under a hypothetical severe global recession and substantial stress in commercial real estate and corporate debt markets, according to the results of Dodd-Frank Act-mandated stress tests, the Federal Reserve said.
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As ESG guidance and disclosures from regulators proliferate, banks must remain free to lend to, invest in and do business without government interference, ABA and the 51 state bankers associations wrote in a letter to financial regulators.
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The Treasury Department issued a request for information on steps it could take to improve post-trade data transparency in the Treasury securities market.
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The federal regulatory agencies announced updates to their spring rulemaking agendas for 2022. Among the CFPB’s priorities are the Dodd-Frank Section 1071 final rule, which is projected for March 2023 and addresses the collection of small business lending data.
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