Author Archives: Monica C. Meinert

ABA: Proposed HMDA Changes Warrant Further Discussion

In a comment letter today, the American Bankers Association provided feedback on the Consumer Financial Protection Bureau’s proposed technical changes to the data lenders are required to collect and report under the final Home Mortgage Disclosure Act Rule (Regulation C).

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ABA Submits Recommendations for Housing Finance Reform

As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, ABA submitted two white papers to the Treasury Department today with recommendations for reforming current mortgage lending rules and regulations and the government-sponsored enterprises Fannie Mae and Freddie Mac.

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ABA Calls for Higher Loan Caps on FSA Guaranteed Ag Loans

Highlighting the critical role the nation’s 1,912 farm banks play in financing the operations of America’s farmers and ranchers, ABA called for changes in the upcoming Farm Bill to the USDA Guaranteed Farm Loan Program in a written statement for the record of a House Agriculture Committee hearing yesterday.

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ABA Expresses Concern about Using Alternative Data for Credit Scoring

Banks are generally open to the idea of using alternative data sources -- such as mobile phone bills and rent payments -- to help consumers establish a credit history, but concerns about compliance, data integrity and other risks stand in the way, ABA said today in a comment letter to the Consumer Financial Protection Bureau.

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ABA Calls for Revisions to Cyber Standards for Insurers

ABA today submitted comments to the National Association of Insurance Commissioners on its draft of the insurance data security model law, which would establish data security and data breach notification standards for insurance licensees (insurers and insurance agencies).

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