In response to the OCC’s advance notice of proposed rulemaking on fiduciary capacity and non-fiduciary custody activities, ABA today submitted a comment letter urging the agency not to proceed. The rulemaking under consideration would expand the OCC’s definition of services subject to fiduciary regulations, and also establish a new set of rules governing bank custody activities. ABA stressed that no compelling reason has been given for this regulation and asserted that such regulation would be counterproductive, leading to increased risks to OCC-regulated banks.
Survey: Community bankers remain optimistic but concerned about tariff effects
Community bankers maintain an overall positive outlook on the economy but worry that future business conditions are fading, according to the Conference of State Bank Supervisors.