The Congressional Budget Office on Friday released its cost estimate for H.R. 1595, the ABA-backed SAFE Banking Act that would allow banks to serve legitimate cannabis businesses in states that have legalized the drug.
Author ABA Banking Journal Staff
In a May 21 letter to the National Credit Union Administration, Senate Minority Leader Chuck Schumer (D-N.Y.) asked the regulator to conduct an immediate review of its supervisory practices in the wake of “deeply troubling conduct” by credit unions involved in New York’s taxi medallion business.
The Financial Crimes Enforcement Network announced today a new program to facilitate innovative approaches to combating money laundering and terrorist financing.
ABA joined seven other financial trade associations on Friday in a letter urging the Department of Labor to propose regulations to expand the use of electronic delivery for retirement plan disclosures and notices.
The OCC has issued a long-awaited final rule implementing a new section of the Home Owners’ Loan Act permitting certain federal stock and mutual savings associations to elect the rights and duties of national banks.
BAFT, ABA’s global transaction banking subsidiary, today released an updated New York law master participation agreement, which serves as the industry standard for secondary market transactions to facilitate the buying and selling of trade finance-related assets globally.
Sixty-one percent (up 11 points from 2013) said they could cover a $400 emergency expense in cash, a benchmark often cited by policymakers.
The National Credit Union Administration board today proposed a rule that would allow federal credit unions to have up to 50% of their deposits come from other credit unions and government entities, up from a 20% cap today.
Banks do not base decisions on how much they should hold in reserve at the Federal Reserve Banks on their desire to earn the interest paid on excess reserves, according to a Fed survey of senior financial officers released today.