ABA Banking Journal
April 21, 2023

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.

Industry News
How can community bank emerging leaders take initiative in innovation? Tim Shangle advises bankers to take small steps and explore what new technologies can do.
 
Modern data management is essential to risk initiatives of 2023 and beyond.
 
Establishing common definitions and employing visualizations to communicate data can help departments gain a better understanding of the metrics that matter.
 
Data Center, Inc. (DCI)
Raymond James & Associates
As cyber threats continue to become more sophisticated, the Financial Stability Board issued a report on how jurisdictions can work to achieve “greater convergence” in cyber incident reporting.
 
The economic fallout from last month’s bank closures led some Federal Open Market Committee members to support a lower increase in the federal funds rate than they had anticipated up to that point, according to minutes of the committee’s March meeting.
 
New approaches, systems and processes ensure balance between compliance risk management and marketing performance.
 
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Policy News
The Deposit Insurance Fund could be replenished as early as 2024 under a restoration plan adopted by the FDIC last year, although a special assessment is required to recover losses resulting from the recent bank closures, according to an agency report.
 
The banking industry is not meeting demand for new bank formation, Federal Reserve Governor Michelle Bowman said.
 
Proposed legislation to establish a federal regulatory framework for stablecoins has merits but also contains several significant flaws, particularly in its handling of nonbank entities, ABA said.
 
Jack Henry & Associates, Inc.
Capco
ABA joined the U.S. Chamber of Commerce and nearly 300 national, state and local trade associations and chambers of commerce in a comment letter expressing opposition to the Federal Trade Commission’s proposal to ban nearly all noncompete agreements in employee contracts.
 
In a statement, ABA President and CEO Rob Nichols said the association was disappointed with the Small Business Administration’s decision to lift the moratorium on the number of nondepository lenders in the 7(a) program.
 
The Federal Housing Finance Agency announced a proposed rule to codify many of the agency’s existing practices and programs regarding fair housing and fair lending oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
 
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