ABA Data Bank: Banks report lower demand for loans

A bill to create a regulatory framework for payment stablecoins cleared a key procedural hurdle after several Democrats joined Republicans in voting to advance the legislation.

The CFPB has withdrawn two proposed rules concerning data brokers and digital payment mechanisms. Both were proposed after the 2024 elections.

Legislation intended to reduce credit card interchange fees would reduce revenue for community banks and credit unions, leading to less access to credit and disproportionately harming low-income households, according to a recently published academic report.

The CFPB announced it is rescinding dozens of guidance documents on topics such as fair lending, overdraft fees, disclosure policies and consumer information requests to large banks and credit unions.

ABA and other plaintiffs said the court has already recognized that an Illinois law restricting certain interchange fees is preempted by federal law, so it should reject the state’s arguments against the court making a summary judgment in...

A bill to create a regulatory framework for stablecoins stalled in the Senate after it failed to generate enough votes to advance. Afterward, Senate Republicans vowed to continue working to pass the legislation.