Risk in Banking

Proposed legislation would provide “a strong framework” to improve social media companies’ urgency in removing fraudulent advertising, “stopping countless scams before they start,” ABA President and CEO Rob Nichols said in a letter to the bill’s sponsors.

Lawmakers reauthorized a voluntary framework for the private sector and government agencies to share information about cyberthreats as part of a larger budget deal.

The Treasury Department is seeking public input on the Known Investor Program and ways to potentially streamline aspects of its foreign investment review process.

The ABA Foundation unveiled a first-of-its-kind report capturing forward-looking ideas from bankers, community leaders and nonprofit partners on how financial institutions can drive meaningful economic and community impact in the decades ahead.

Major tech platforms make billions of dollars from scammers who advertise on their sites, according to reporting from Reuters, and there’s not much incentive for them to change their practices — yet.

The Federal Reserve finalized the hypothetical scenarios for its annual stress test for large banks. In addition, the Fed board voted to maintain the current stress capital buffer requirements until 2027.