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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.
Super apps are a digital Holy Grail — a mobile application that seamlessly integrates messaging, transportation, financial services and entertainment, all under one virtual roof. These applications are designed as dynamic ecosystems, providing comprehensive solutions that cater to a wide range of user needs. This trend carries substantial implications for the banking industry.
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For Financial Literacy Month in April, the ABA Banking Journal Podcast features a conversation on how banks are engaging their communities with financial education.
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Women make up more than half the total number of employees working in the banking industry today, but the share of women who currently hold the CEO title is currently hovering around a mere 7.5 percent. The question, then, is: How do banks get those different voices into the room?
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Federal Home Loan Banks awarded $446.9 million through their affordable housing programs in 2023, almost $180 million more than in 2022, the Federal Housing Finance Agency said in its new annual housing mission report.
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On this episode of the ABA Banking Journal Podcast, Neil Stevens, president and CEO of Oconee State Bank in Oconee, Georgia, discusses his approach to cultivating a bank where engagement scores have climbed to 89 percent, triple the national average.
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Core banking conversion is a daunting trek. Consultants can be a guide on the trail, but choosing one is its own challenge.
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The ABA expressed support for three bills that appeared before the House Financial Services Committee during a markup hearing, including a resolution to overturn the Consumer Financial Protection Bureau’s credit card late fee rule.
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Two proposals to create new Bank Secrecy Act rules for investment advisers and professionals involved in certain residential real estate transactions should be further refined to avoid unintentionally sweeping in banks and trust companies already subject to robust BSA regulation, the ABA said in a letter to Financial Crimes Enforcement Network Director Andrea Gacki.
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More than 30 senators are cosponsoring a Senate joint resolution to overturn the Security Exchange and Commission’s climate disclosure rule. The resolution would strike down the rule if passed by both houses of Congress and signed by the president. An identical resolution has been introduced in the House.
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The American Bankers Association said this week that while it supports efforts by the Office of the Comptroller of the Currency to reassess how it evaluates bank merger applications, it had several concerns with the proposal, including a push by the agency to end the time limit for automatic approvals of mergers.
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The Financial Crimes Enforcement Network announced the renewal of its geographic targeting orders that require U.S. title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate. The terms of the GTOs are effective beginning April 19 and ending on Oct. 15.
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With four active lawsuits against regulatory agencies, ABA President and CEO Rob Nichols emphasized Monday that filing a lawsuit is “not the first tool in the box. It’s the very last one.” The four lawsuits address Section 1071 of the Dodd-Frank Act, the CFPB’s UDAAP manual, the Community Reinvestment Act final rule and the CFPB’s late fees rule.
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