The latest version of a proposed market structure bill for digital assets still puts at risk the local lending that drives economic activity in the U.S, ABA and five other banking sector associations said in a joint statement.
A major bank policy bill passed by the House includes language to help smaller community development financial institutions and require annual reports to Congress on the state of the CDFI Fund.
Republicans on the House Financial Services Committee published a report calling for a coordinated national strategy to combat financial fraud and scams, saying that scams begin long before a customer contacts their bank and require stronger collaboration across...
The FCC voted 3-0 to issue a proposal to strengthen the Robocall Mitigation Database. ABA expressed support for the proposal in a letter sent in advance of the vote.
The Financial Stability Board’s draft list of 12 recommendations to guide the adoption of artificial intelligence by financial institutions is useful, but the document could use some further tweaks to make the recommendations even more effective, ABA said.
The takeaway is not that every bank needs a stablecoin strategy tomorrow. It is that stablecoins are no longer purely a fintech or cryptocurrency story.
