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.