Author Kate Young

Newsbytes

The American Bankers Association today announced its endorsement of two software solutions to help banks meet the upcoming deadline for Current Expected Credit Loss implementation. Sageworks ALLL and MST Loan Loss Analyzer are software solutions that provide modeling and data management for CECL accounting. CECL represents the biggest accounting change in banking history. The new

Newsbytes

The OCC should act now to update the Community Reinvestment Act so banks can better serve their communities, wrote Zions Bank President and CEO A. Scott Anderson in a Deseret News op-ed on Thursday. The op-ed came just a few weeks after the OCC issued its advanced notice of proposed rulemaking seeking input on the

Insurance

In a comment letter to the Securities and Exchange Commission today, ABA offered feedback on the SEC’s proposal to implement a “best interest” standard of conduct for broker-dealers when making recommendations on securities transactions or investment strategies to retail customers. The SEC’s proposal would represent a different approach from the Labor Department’s fiduciary rule, which

Newsbytes

The Consumer Financial Protection Bureau today announced a new partnership with 11 financial regulators and related organizations around the globe aimed at creating a Global Financial Innovation Network. The network is intended to facilitate interactions between regulators and innovators as they seek scale and ubiquity for new technologies. A joint document published by the agencies

Newsbytes

In a letter today to members of the House of Representatives, the American Bankers Association and three other financial trade groups urged support for Congressman Patrick McHenry’s (R-N.C.) amendment to the Financial Services and General Government appropriations bill that would prohibit the U.S. Postal Service from providing banking services. The bill — along with its amendments

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