ABA Supports Customer Data Collection Bill

The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Mississippi and West Virginia affected by severe storms.

As regulators weigh changes to the CAMELS rating system, ABA said it supports revisions that prioritize safety and soundness but believes further changes should be made to make ratings more objective and predictable.

The Treasury Department released proposed rulemaking to require digital asset providers to obtain a federal or state license before issuing payment stablecoins, as required by the Genius Act.

Eight-seven percent of small business owners believe a cyberattack could have severe financial consequences, with 84% believing it could damage their customer relationships.

The University of Michigan Consumer Sentiment Index decreased 7.6% in August compared to the month prior, landing at 51, according to preliminary results for the month.

Fifteen state attorneys general urged Congress to pass legislation ensuring that robberies of off-site ATMs carry the same legal consequences as bank robberies. ABA also supports the bill.