Podcast: How a CBDC would ‘fundamentally rewire our economy’

The CDFI Fund has extended the application deadlines for financial assistance and technical assistance awards to April because of last year’s government shutdown.

ABA joined three other banking associations in requesting that the OCC extend the public comment deadline for a proposed rule to implement payment stablecoin legislation, saying the potential ramifications for banks merited a deliberative approach.

ABA survey found strong consumer support for requiring nonbank fintech companies to follow the same rules as banks, and for protecting local lending from stablecoin risks.

At the Washington Summit, ABA President and CEO Rob Nichols emphasized three key issues where banker advocacy is needed, including closing a critical loophole in the Genius Act that threatens to divert bank deposits into digital asset wallets...

Amid rising housing unaffordability, Congress needs to remove a the "huge amount of red tape" that inhibits building new homes and refurbishing existing housing stock, Sen. Dave McCormick (R-Pa.) said at the Summit.

Any legislation on market structure for stablecoins and other cryptocurrencies — such as the Clarity Act — must be fully evaluated in public, Sen. Mike Rounds (R-S.D.) said at the Summit. "Let's make sure the entire industry has...