ABA recommends FASB staff memo to address certain nonbank CECL concerns

This year, 22 banks will be tested against a severe global recession with heightened stress in both commercial and residential real estate markets, as well as in corporate debt markets.

Republicans on the Senate Banking Committee blasted regulators for allegedly pressuring banks to cut off services to certain customers while Democrats said overdraft and other bank fees were driving people away from banking.

A proposed bill to create an all-in annual percentage rate cap of 10% for credit cards would harm the very people it seeks to protect, ABA and six banking and credit union associations said in a joint letter...

The ISM services index decreased 1.2% from the prior month to land at 52.8% in January, the Institute for Supply Management said. Readings over 50% indicate expansion.

Community banks are an important part of the U.S. financial system and play a crucial role in both local communities and the national economy, ABA Vice Chair Cathy Owen told members of the House Financial Services Committee.

The Guiding and Establishing National Innovation for U.S. Stablecoins Act would establish procedures for institutions seeking licenses to issue stablecoins.