ABA today wrote to Congress to urge support of two recently introduced bills. S. 871, introduced by Sens. Dean Heller (R-Nev.), Shelley Moore Capito (R-W.Va.) and Rand Paul (R-Ky.), would establish a process for designating an area rural for purposes of Consumer Financial Protection Bureau exemptions. It is a companion to a bill that the
Joined by 29 bipartisan cosponsors, Reps. Lynn Westmoreland (R-Ga.) and Carolyn Maloney (D-N.Y.) yesterday introduced H.R. 1941, which would help address ongoing concerns about the lack of consistency and quality in the bank examination process.
In conjunction with his visits this week with bankers in North Dakota, ABA President and CEO Frank Keating yesterday discussed the practical implications of excessive regulation for bank customers on Fargo’s KFGO radio station.
The dearth of bank startups in recent years may have something to do with declining business dynamism and weak job growth, Frank Keating wrote in an op-ed in The Hill on Friday.
Americans are eager for products and brands that are local, handcrafted, neighborly. This, Joshua Siegel writes, is an opportunity for community banks.
FDIC Vice Chairman Thomas Hoenig today became the latest regulator to emphasize the need to tailor regulations to suit banks’ risk profiles and business models, suggesting several ways that regulatory burdens could thus be lightened for “the vast majority of commercial banks.”
The Federal Reserve yesterday adopted a final rule that expands the regulatory relief provided by its small bank holding company policy statement.
ABA yesterday urged bankers and state associations to ramp up their communications with members of Congress and “tell your story” when explaining why various legislative solutions are needed.
Banks play a critical role in identifying financial fraud and protecting their older customers against related losses, Comptroller of the Currency Thomas Curry said in a speech Friday in Washington, D.C. He noted that bankers are helping to flag elder fraud by filing Suspicious Activity Reports with the Financial Crimes Enforcement Network, as well as by enhancing training and improving marketing and education materials to raise awareness of fraud schemes.
The banking industry is already seeing positive results from ABA’s Government Relations Summit last week, ABA President and CEO Frank Keating said in an email to all bank CEOs today.