ABA Fraudcast: Developing a hybrid approach to fighting check fraud

Noting more than half of recent bank charter applications received by his agency involve digital assets, Comptroller of the Currency Jonathan Gould said his job isn’t about “incumbent protection” but rather preserving the integrity of the banking system.

The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Mississippi and West Virginia affected by severe storms.

As regulators weigh changes to the CAMELS rating system, ABA said it supports revisions that prioritize safety and soundness but believes further changes should be made to make ratings more objective and predictable.

Eight-seven percent of small business owners believe a cyberattack could have severe financial consequences, with 84% believing it could damage their customer relationships.

Banks should familiarize themselves with FinCEN’s 314(a) FAQs, and follow prescribed procedures to contact FinCEN.

Fifteen state attorneys general urged Congress to pass legislation ensuring that robberies of off-site ATMs carry the same legal consequences as bank robberies. ABA also supports the bill.