ABA Banking Journal

The largest credit unions should be required to file Form 990 -- the standard return filed by most nonprofit entities -- with the Internal Revenue Service, Senate Finance Committee Chairman Orrin Hatch (R-Utah) said in a letter to the IRS’ acting commissioner today.

Congress will pass a bank regulatory reform bill this year, Rep. Patrick McHenry (R-N.C.) said today at ABA’s Government Relations Summit.

Consumer Financial Protection Bureau Acting Director Mick Mulvaney is bringing the agency’s activities within its statutory boundaries, he told attendees at the ABA Government Relations Summit this morning.

When considering applications for new associational common bonds since its 2015 rule permitting expansive new fields of membership, the National Credit Union Administration has denied or deferred less than 10 percent of them, NCUA Chairman Mark McWatters said in a March 28 letter released yesterday.

This morning at the Government Relations Summit in Washington, D.C., ABA will unveil its reimagined America’s Banks campaign.

A rule that initially seemed rather straightforward has yielded multiple devils in the details.

ABA and three other trade groups on Friday urged House and Senate appropriations leaders to support $275 million in funding for the Community Development Financial Institutions Fund in fiscal year 2019, with at least $35 million allocated for the Bank Enterprise Award Program.

Pilot Bank in Tampa, Fla., is a full-service $305 million community bank with a unique wing: private aircraft finance.

The Federal Reserve is “close” to finalizing the Net Stable Funding Ratio, a long-term liquidity measurement included in the Basel III liquidity standards, Federal Reserve Governor Lael Brainard said during a speech in Washington today.