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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.
In the constantly evolving world of financial products, there has been a notable increase in collateralized mortgage obligations issuance over the past few years. CMO issuance has experienced considerable fluctuations since 2019, with a noticeable upward trend beginning in late 2022. These complex financial instruments continue to be a popular choice among a diverse class of investors.
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As cyberattacks grow increasingly sophisticated and the expense of bank cybersecurity swells, the Treasury Department has rolled out free tools to help banks of all sizes keep up in the arms race. "Project Fortress" debuted in May as part of a larger initiative by the federal government to improve the nation’s cybersecurity across a range of business sectors.
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Banks require insights from data analytics to make informed decisions and optimize performance. The right data strategy ensures this happens in an organized and cost-effective manner. Your data strategy should be as unique as your overall company strategy.
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Today’s banking landscape demands a new, comprehensive approach to relationship building, beyond the strategies of the past 15 years. To adapt and thrive in today’s environment, bankers need to embrace what it means to be relational.
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As president and CEO of $50 billion-plus BOK Financial, Stacy Kymes spends time thinking about the role of regional banks in the U.S. economy. On this episode of the ABA Banking Journal Podcast Kymes talks about how BOK Financial finds unique niches and meets the credit and capital market needs in its core mid-America markets.
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In its recent article, “Fed’s High-Rates Era Handed $1tn Windfall to US Banks,” the Financial Times suggested that U.S. banks profited excessively from the elevated federal funds rates over a 2.5-year period by paying depositors lower returns while reaping higher yields on their assets. However, this characterization of bank profits as a “windfall” reflects a fundamental lack of understanding of both the banking business model and the complex interplay of consumer behavior and market forces.
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The ABA has joined a coalition of business and advocacy groups in urging lawmakers to restore a now-defunct federal tax deduction for mortgage insurance premiums. Signatories include U.S. Mortgage Insurers and the NAACP.
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Before credit unions acquire banks, they should be required to receive membership approval, disclose financial terms and demonstrate how bank acquisitions affect consumers, communities and taxpayers, ABA President and CEO Rob Nichols said in a letter to National Credit Union Administration Chairman Todd Harper.
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Credit unions and other nonbanks should be subject to the same regulatory and supervisory expectations as banks if they are engaged in the same activities, Federal Reserve Governor Michelle Bowman said at the recent Community Bankers Symposium in Chicago.
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The Bank Policy Institute and The Clearing House filed a motion to intervene in a retailer lawsuit seeking to invalidate Regulation II’s standard for setting debit interchange fees at levels higher than federal statute permits. It’s the latest turn in a case that made its way to the U.S. Supreme Court earlier this year.
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The ABA said that it supports an application by the Financial Data Exchange, or FDX, to become a recognized standard-setting body under the Consumer Financial Protection Bureau’s proposed financial data-sharing regulation.
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Representatives from four banking regulators today shared their agencies’ current supervisory priorities, including a proposed Bank Secrecy Act program rule to require financial institutions to establish and maintain risk-based anti-money laundering programs.
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