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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.
In 1903, Maggie Lena Walker became the first Black woman to charter a U.S. bank when she opened the St. Luke Penny Savings Bank in Richmond, Virginia, as the bank’s first president. In a classic replay episode of the ABA Banking Journal Podcast, historian Shennette Garrett-Scott tells the story of Walker and her mission to help Black women find financial empowerment and professional career opportunities.
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Banks seeking to strengthen their digital identification verification processes face complex challenges.
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Consumers are continuing to look to credit to ease the financial pressures of high inflation and rising interest rates, according to the recently released Q4 2022 Quarterly Credit Industry Insights Report by TransUnion.
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Banks are addressing an array of challenges to attract new hires and retain them.
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More than 60% of global financial institutions with at least $5 billion in assets were hit by a variety of cyberattacks over the past year, according to a new survey by Contrast Security.
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From acquiring to converting to retaining, the key is a targeted strategy.
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The Federal Reserve’s proposed guidelines to help large banks mitigate climate change risks need to be flexible to implement, and they should not be applied to community banks, ABA said in a recent letter to the agency.
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Federal Reserve Chairman Jerome Powell this week reiterated his belief that further increases in the federal funds rate will be necessary to bring inflation down to the agency’s 2% target.
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To help expand access to banking services and promote financial inclusion, Rep. Andy Barr (R-Ky.) introduced H.R. 758, which would establish a three-year phase-in period for new banks to comply with federal capital standards and provide relief for de novos in rural communities.
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Treasury plans to convene an interagency cloud services steering committee to develop closer cooperation among U.S. regulators and develop best practices for cloud adoption frameworks.
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The CFPB has issued guidance warning mortgage comparison-shopping digital platforms that they are violating federal law if they direct shoppers to lenders or other real estate settlement service providers who pay referral fees to the platform.
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The OCC has issued a bulletin to inform banks and examiners that the loan origination threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans has changed due to a recent court decision.
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