Policy

Mnuchin Underscores Tailored Regulatory Approach

Testifying before the House Financial Services Committee today, Treasury Secretary Steven Mnuchin outlined his recommendations for financial reform, including tailoring capital requirements, reducing regulatory overlap, remedying the Volcker Rule and making the Consumer Financial Protection Bureau more accountable.

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Fed Nominee Quarles ‘Fully Supports’ Tailored Regulation

During his confirmation hearing today, Randal Quarles -- President Trump’s nominee to serve as Federal Reserve vice chairman for supervision -- endorsed the concept of tailored supervision that ABA has done much to work into the policy conversation over the past several years.

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House Votes to Overturn Arbitration Rule

House lawmakers today voted to overturn the Consumer Financial Protection Bureau’s controversial final arbitration rule by a vote of 231 to 190, exercising their authority under the Congressional Review Act to reject new federal regulations within 60 legislative days of publication in the Federal Register.

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ABA Supports Bipartisan Reciprocal Deposit Bill

ABA wrote to Sen. Mark Warner (D-Va.) today in support of S. 1500, a bipartisan bill that would update Section 29 of the Federal Deposit Insurance Act to clarify that reciprocal deposits of another insured depository institution are not considered brokered deposits.

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ABA Calls for Changes to USDA Loans in 2018 Farm Bill

In a statement for the record in a Senate Agricultural Committee hearing on commodities, credit and crop insurance, ABA today called on lawmakers to reform the U.S. Department of Agriculture’s guaranteed farm loan programs in the 2018 Farm Bill.

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Nichols Emphasizes ‘Common-Sense’ Reg Reforms in New York Times

In a New York Times letter today responding to exaggerated claims about bankers’ regulatory relief efforts, ABA President and CEO Rob Nichols made clear that the policy changes bankers are seeking are “common-sense reforms that can ease the regulatory burden responsibly and allow banks of all sizes to better serve their customers and communities.”

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