Tag Archives: regulatory burden

ABA Welcomes OCC Regulatory Adjustment Proposal

ABA on Thursday welcomed a proposal from the OCC that would make several regulatory adjustments as part of its efforts under the Economic Growth and Regulatory Paperwork Reduction Act to reduce unnecessarily burdensome or outdated banking rules.

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ABA: Proposed FBAR Changes Would Increase Reg Burden

In a joint comment letter yesterday, ABA and the Securities Industry and Financial Markets Association offered feedback on the Financial Crimes Enforcement Network’s proposal to clarify who is exempt from filing Reports of Foreign Bank and Financial Accounts, or FBAR, under the Bank Secrecy Act.

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Fed Moves Forward with Executive Compensation Proposal

The Federal Reserve Board today voted to re-propose the executive compensation rule mandated by the Dodd-Frank Act, prohibiting incentive-based compensation arrangements for executives that the regulators believe could encourage excessive risk-taking behavior.

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OCC: Technology Must Not Impede Regulator Access to Records

The OCC today reminded banks of their obligation to provide regulators full and unimpeded access to their books and records, and that use of technological features like encryption or data deletion to limit examiner access is inconsistent with the agency’s supervisory expectations.

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ABA Letter Highlights Effects of Regulation on Treasury Market

In a comment letter to the Department of Treasury today, ABA and the ABA Securities Association applauded the department’s efforts to review the structure and function of the U.S. Treasury market and encouraged Treasury to fully examine the effects of the current regulatory environment on both market activity and bank customers.

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ABA Urges OMB to Make Changes to DoL’s Proposed Overtime Rule

ABA senior staff, together with incoming Texas Bankers Association President and CEO Jim Purcell, met with staff from the Office of Management and Budget and Department of Labor on Wednesday to reiterate strong concerns about the DoL’s proposed overtime rule, which raises the overtime pay exemption threshold from $23,660 to $50,440.

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Boozman: Wholesale Reg Relief Unlikely in Next Appropriations Bill

In an interview with Politico today, Senate Financial Services Appropriations Subcommittee chairman John Boozman (R-Ark.) said that he plans to continue seeking bipartisan support to pass meaningful regulatory relief -- a key part of ABA’s Agenda for America’s Hometown Banks -- following an unsuccessful effort in 2015 led by Sen. Richard Shelby (R-Ala.).

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