Fed Declines Basel III Fix for Sub S Banks

Federal Reserve Chairman Janet Yellen yesterday responded to a letter several House members sent last fall urging regulators to resolve a problem for Subchapter S banks posed by Basel III’s capital conservation buffer. Yellen declined to pursue any policy change, stating that the Fed “continues to believe that the capital conservation buffer should be applied equally to all banking organizations.”

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ABA Urges Changes to CFPB Complaint Narrative Database

ABA President and CEO Frank Keating in a letter yesterday shared members’ concerns about the Consumer Financial Protection Bureau’s recent decision to publish consumer complaint narratives, and he urged the bureau to improve its portal and database to help “mitigate unfair and inaccurate reputational damage to the banking industry.”

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Keating Shares Banking Perspective in NYC Interviews

ABA President and CEO Frank Keating offered perspective on a wide range of issues -- from banking regulation, interest rate increases and the low labor force participation rate to the Meerkat app and presidential politics -- in interviews with New York City media outlets yesterday.

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