The federal banking agencies announced today that they would defer for an additional two years action related to restrictions for certain foreign funds that may have been unintentionally covered under the Volcker Rule. The delay comes as the agencies contemplate significant reforms to the rule.
ABA continues to advocate for changes that would clarify, simplify, and tailor the Volcker Rule’s regulatory requirements and make them more workable for banks.
The House voted in favor of the Prove It Act, which would strengthen federal standards that require regulatory agencies to consider the economic effects of regulation on businesses.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $73.8 billion in October, down $10.0 billion from $83.8 billion in September, revised.
FinCEN is seeking nominations for membership in the Bank Secrecy Act Advisory Group, which reviews and discusses issues related to BSA reporting requirements. Membership is open to financial institutions subject to the BSA.
Federal Reserve Financial Services recently announced the expansion of FedDetect Duplicate Notification for Check Services to include commercial checks, alongside its existing Treasury check notification service.
The Hill newspaper announced that ABA President and CEO Rob Nichols, Chief Policy Officer Naomi Camper and EVP of Congressional Relations and Legislative Affairs Kirsten Sutton were named to its list of the 2024 top lobbyists.
Agency extended to Dec. 10 the deadline for contractors to object to the disclosure of their 2021 diversity data, known as “EEO-1 reports.” ABA has prepared an analysis to guide banks on their responses.
