ABA Banking Journal
March 8, 2024

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.

Federal Reserve System®
What’s next for the FedNow® Service
The FedNow Service launched in July 2023 with 35 financial institutions live on the instant payments network. Today, that number has grown to over 600 financial institutions, with more joining each day.
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Industry News
Stress tested
Bankers look back on the bank failures of spring 2023 and share some lessons learned and strategies for success.
 
Women CEOs leading the way
A new Women CEO Peer Group co-hosted by ABA and Bank on Women aims to shine a spotlight on the lack of women in leadership roles in banking.
 
Podcast: The commercial real estate state of play
In this episode of the ABA Banking Journal Podcast, ABA’s Dan Brown and Sharon Whitaker discuss community bank exposures to commercial real estate and how community banks are managing shifts in the CRE sector.
 
Data Center, Inc. (DCI)
Raymond James & Associates
Missing the point on credit card APR margins
Contrary to showing anti-competitive behavior, as the CFPB misreads the data, credit cards are a competitive sector that has expanded credit access.
 
Survey: Consumers value fraud protection when seeking financial services
More than two out of three consumers list good fraud protection as a top priority when choosing a new financial service provider, according to a new survey by the credit scoring services firm FICO.
 
Report: Distributed denial-of-service attacks against financial sector increased in 2023
More than one-third of distributed denial-of-service attacks in 2023 were aimed at the financial services industry, which surpassed the video game sector as the most frequent target for attacks, FS-ISAC and cloud service provider Akamai said in a new report.
 
Jack Henry & Associates, Inc.®
A Digital vs. Traditional Account Opening Experience
Attracting new accountholders and staying competitive demands effective origination beyond the four walls of your branch. Rather than replicating analog processes online, reimagine a new accountholder experience with technology that minimizes friction, boosts fully funded accounts, prioritizes digital convenience, and enhances your accountholder experience through a digital-first lens.
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Policy News
Bowman shares ‘significant concerns’ about possible liquidity regulation
Liquidity regulation has the potential to impose significant costs and limit the lending capacity and business operations of banks, which must be taken into account before imposing any new requirements, Federal Reserve Governor Michelle Bowman said.
 
SEC approves climate disclosure rule
The Securities and Exchange Commission voted approve new climate disclosure requirements for publicly traded companies.
 
ABA supports resolution to overturn SEC crypto custody policy
ABA said it supports a proposed House joint resolution expressing congressional disapproval of a SEC policy on safeguarding cryptoassets.
 
Galileo Financial Technologies
REDI Enterprise Development, Inc.
Powell: Broad changes likely coming to Basel endgame proposal
Federal Reserve Chairman Jerome Powell said that he expects there will be “broad and material” changes to the proposed Basel III endgame capital standards before they are finalized.
 
CFPB to curtail credit card late fee safe harbor
The CFPB released a final rule sharply reducing allowable late fees on credit card payments. ABA said the rule is based on flawed data.
 
ABA, associations: Cross-border payments standards would disadvantage U.S, banks
A set of proposed harmonization requirements for cross-border payments need to account for the implications and costs to U.S. depository institutions, ABA and two associations said.
 
Servbank®
Superior Subservicing Starts Here
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Training

March 11 - May 17
Facilitated Training: Introduction to Mortgage Lending

March 11 - June 28
Facilitated Training: General Accounting

March 12
Webinar: CECL Then and Now

March 14
Webinar: What Clients Need to Know to Manage Their Taxes in 2024

March 14
Webinar: The State of Ag Banking: What to Expect in 2024

March 18 - 20
Conference: Washington Summit
Marriott Marquis, Washington, DC

March 18 - 21
School: Compliance School – Intermediate
Emory Conference Center, Atlanta, GA

March 18 - 22
School: Compliance School – Foundational
Emory Conference Center, Atlanta, GA

March 18 - 22
School: Wealth and Trust School Level 2
Emory Conference Center, Atlanta, GA

March 18 - April 12
Facilitated Training: Marketing Management

March 18 - April 19
Facilitated Training: Managing the Bank's Investment Portfolio

March 18 - May 24
Facilitated Training: Legal Foundations in Banking

March 21
Webinar: The Renaissance of Relationship Lending in the Age of Automation

March 21
Webinar: Investing in Innovation: Project Fintech Pitch Webinar

March 26
Webinar: Using the Secondary Market to Compete for Farm Loans

March 28
Webinar: Women’s History Month Webinar

 
 

 

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