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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.
A series of tax cuts that are poised to expire next year should be on the radar of banks of all sizes.
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Financial Institutions hold vast amounts of sensitive customer data, manage substantial funds, and operate in an ever-expanding digital environment, making them a prime target for threat actors.
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Music is still part of bank marketers’ tool kits, but in new ways. “Jingles are dated, walk the fine line between cringy and cool and most marketers, especially in banking, are focused on ROI and data more than branding and creative style jingle marketing,” says John Oxford, chief marketing officer at $17.4 billion Renasant Bank.
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A program that has boosted the career prospects of 3,000 and involves 50 institutions. 'It's ok to not know things and learn.'
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As Generation Z enters the workforce, companies are grappling with how to cater to their remote preferences and entrepreneurial spirit.
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You’ve heard it many times: Millennials want financial education. What’s not talked about nearly as often: How to help millennials provide valuable financial education to their own children.
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A proposed rule to establish uniform financial data standards across regulatory agencies is flawed because it failed to consider using CUSIP and ISIN as common identifiers for financial instruments despite their widespread use in the financial system, and because the agencies acted outside their statutory authority in setting a new standard, ABA said.
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The Consumer Financial Protection Bureau’s proposed interpretive rule governing earned wage access products will discourage banks from offering these products, limiting access to a convenient and potentially free source of small dollar, short-term liquidity, ABA wrote in a comment letter submitted to the CFPB.
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ABA said it supports a proposal to expand the operating hours of the Fedwire Funds Service to include weekends and holidays, although it urged the Fed to push back the implementation date of the change by one year to 2028.
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The Financial Crimes Enforcement Network’s proposed changes to the Bank Secrecy Act program rule requiring financial institutions to establish and maintain risk-based anti-money laundering programs are unlikely to bring about meaningful reform as banks would need to divert resources away from AML efforts into filling out paperwork.
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The Federal Reserve Bank of Philadelphia announced that President and CEO Patrick Harker will step down on June 30, 2025, in accordance with the Fed’s mandatory age and length-of-service policies. The Philadelphia Fed has retained the executive search firm Spencer Stuart to help find its next president.
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The Community Development Financial Institutions Fund’s revised application process will make it difficult for many mission-focused CDFI banks to achieve recertification unless further changes are made, according to a joint letter by ABA, Community Development Bankers Association and Independent Community Bankers of America.
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