|
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.
Banks, third-party providers of all sizes and, most importantly, customers could benefit from a new oversight establishment for the rapidly evolving fintech marketplace.
|
The latest episode of the ABA Banking Journal Podcast features the winners of ABA’s Distinguished Service Awards for Risk and Compliance.
|
The more card issuers can do to digitally empower cardholders, the more likely the card will be used, building loyalty and connection.
|
Statements and research from the Fed may undermine the case for the SEC’s approach to climate risk disclosures.
|
More than half of Americans (56%) say they are not financially prepared for a recession, while 40% remained concerned about inflation, according to new survey data from WalletHub.
|
Banks are urgently seeking to apply advanced analytics to their core credit-risk function, both to catch up to nonbank lenders and also to meet customer expectations of more personalized and seamless services.
|
The Biden administration issued its spring 2023 semiannual regulatory agenda — a semiannual listing of rulemakings that departments and agencies expect to initiate or continue during the next six months.
|
Any CFPB activity on data brokers should target unregulated entities and not upset the existing regulatory framework for financial institutions, ABA said in a letter to the agency.
|
As regulators develop policy for artificial intelligence, they should adopt an industry-focused approach in order to minimize the effects to businesses that already have a history of complying with laws and regulations related to the technology, ABA said in comments to the National Telecommunications and Information Administration.
|
Regulators acknowledge that proper due diligence of third-party vendor relationships can be a struggle for smaller banks with their limited resources, which is why recent interagency guidance on the subject provides flexibility in how smaller institutions approach those reviews, Acting Comptroller of the Currency Michael Hsu said.
|
In a blog post on the CFPB website, Director Rohit Chopra said the agency will issue a formal proposal in the next few months on a new personal data rights rule “to accelerate the shift to open banking.”
|
House Financial Services Committee Chairman Patrick McHenry (R-N.C.) has introduced legislation that would effectively delay the date that beneficial ownership reporting requirements go into effect, which is currently Jan. 1, 2024.
|
|
