Legal

Highway Robbery

Let’s hope the FAST Act’s thievery serves as a wake-up call to banks that our industry is much stronger when we fight together.

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ABA Seeks Fairness in Fair Lending Enforcement

As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, ABA today urged federal regulators and law enforcement to reign in disparate impact and redlining investigations that go beyond the law and Supreme Court precedent.

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ABA, State Associations Continue Focus on ADA Website Issues

Over the last month, ABA has been working with state bankers associations to inform members of Congress about the demand letters that plaintiffs’ firms have sent to banks asserting that the bank’s website is not accessible to speech and hearing impaired customers as required by the Americans with Disabilities Act.

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Democrats Defend CFPB’s Structure in Amicus Brief

A group of 39 current and former Democratic lawmakers submitted an amicus brief today in the case of PHH Mortgage v. Consumer Financial Protection Bureau, a closely watched case over whether the bureau’s leadership structure -- a single powerful director who cannot be removed at will by the president -- is constitutional.

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DOJ Reverses Position on CFPB Structure in Amicus Brief

In an amicus brief filed in the case of PHH Mortgage v. Consumer Financial Protection Bureau on Friday, the Department of Justice reversed its position on the constitutionality of the CFPB’s structure, asserting that the Bureau’s structure with a single director removable only “for cause” should be invalidated.

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Fed Makes Annual Adjustment to Asset Threshold for Dividend Cut

The Federal Reserve today made an annual inflation adjustment to the asset threshold in Regulation I that determines the dividend rate that certain member banks earn on Federal Reserve Bank stock, as required by the 2015 transportation spending bill. The threshold for 2017 is now set at $10.122 billion in assets.

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