Community Banking

Yellen: Banks Need ‘Tailored’ Regulation

In her opening remarks for the St. Louis Fed’s third annual Community Banking Research and Policy Conference, Federal Reserve Chairman Janet Yellen emphasized the importance of tailored regulation of banks with different asset bases and business models.

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CFPB Finalizes Relief for Small, Rural Mortgage Lenders

The Consumer Financial Protection Bureau today finalized several changes -- many advocated by ABA -- that will increase the number of banks able to benefit from the bureau’s small creditor and rural or underserved area exemptions in its mortgage rules.

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‘Take Your Lawmaker to Work Week’ Kicks Off Today

Today marks the start of Take Your Lawmaker to Work Week, when bankers host members of Congress in their banks. To date, more than 100 bankers have registered to host visits and nearly 200 members of Congress have been invited to a local bank.

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CFPB Announces New Advisory Board Members

The Consumer Financial Protection Bureau on Friday announced new members for its consumer, community banker and credit union advisory councils. Of the 18 community bank advisory council members, 12 are executives at ABA member banks -- including the council’s chairman, Guillermo Diaz-Rousselot, an ABA board member and president and CEO of Continental National Bank, Miami; and the vice chairman, David Reiling, CEO of Sunrise Banks, St. Paul, Minn.

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ABA Welcomes Relief Bill for FHLB Mortgages

ABA wrote to Sen. Heidi Heitkamp (D-N.D.) yesterday thanking her for introducing S. 1974, the Relationship Lending Preservation Act. The bill would provide the same regulatory treatment to mortgages sold to the Federal Home Loan Banks that Qualified Mortgages and GSE loans currently enjoy.

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ABA-Opposed CU Member Biz Lending Bill Introduced in Senate

ABA today voiced its opposition to a bill, introduced yesterday by Sens. Rand Paul (R-Ky.), Sheldon Whitehouse (D-R.I.) and Jack Reed (D-R.I.) that would raise the member business-lending cap for certain credit unions from 12.25 percent to 27.5 percent of total assets.

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