|
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.
The latest episode of the ABA Banking Journal Podcast continues a series of conversations on the business outlook, following last week’s episode on the perspectives of CFOs at large corporates and the upper end of the middle market.
|
The U.S. banking system is already well capitalized, and regulators have not demonstrated how the “Basel III endgame” proposal would increase safety and soundness.
|
Bad actors are continually tweaking their strategies in an effort to bypass defense systems.
|
U.S. consumers are generally unaware of the differences between banks and credit unions, and they believe credit unions should be held to the same standards as the banks, according to a new survey conducted by Morning Consult on behalf of ABA.
|
Many fintech firms’ offerings are narrow, leaving them unable to meet growing businesses’ capital needs. In contrast, most banks can work with businesses as they grow.
|
Julieann Thurlow, ABA’s 2023-24 chair, unites financial inclusion and financial innovation.
|
Corporate CFOs and finance leaders are “best leading indicators.” says Stephen Philipson, head of global markets and specialized finance at U.S. Bank. “They always have to be looking ahead.” On the latest episode of the ABA Banking Journal Podcast, Philipson discusses findings from U.S. Bank’s 2023 CFO Insights Report.
|
More than one in five Americans had reported being a victim of identity theft as of 2021, the Justice Department said.
|
ABA expressed support for a proposed bill to create a tax credit for investments in community development financial institutions and minority depository institutions.
|
The Federal Reserve, FDIC and OCC should conduct a full, public study into the costs of their proposed capital requirements and re-propose the rule after the study’s results are released, ABA and five business groups said.
|
Financial institutions risk violating federal protections against discrimination if they rely on immigration status to determine a consumer’s credit worthiness, the Consumer Financial Protection Bureau and Justice Department said.
|
The FDIC’s lack of clear guidance for digital assets creates uncertainty for financial institutions in determining the appropriate actions to take in adopting and safeguarding the technology, the agency’s Office of Inspector General concluded in a new report.
|
President Joe Biden announced a renewed push to eliminate what his administration has branded “junk fees” across several business sectors, including fees charged by larger banks for certain customer services. Among the proposals was new CFPB guidance stating that banks and credit unions with more than $10 billion in assets cannot charge customers fees for “basic information,” such as customer inquiries into account balances or the amount necessary to pay off a loan balance.
|
As part of a broader Biden administration announcement on consumer fees, the CFPB will issue guidance interpreting a statutory requirement for large financial institutions to provide information when requested by consumers.
|
|
