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ABA President and CEO Frank Keating yesterday expressed the association’s strong opposition to efforts by the Credit Union National Association to ease further the already-loose field of membership requirements that ensure credit unions remain dedicated to serving people with meaningful common bonds.
The FDIC today proposed a rule change in how smaller banks are assessed for deposit insurance, basing assessments on recent experience with bank failures.
ABA President and CEO Frank Keating discussed the challenges community banks are facing in serving their customers’ needs in an appearance on Bloomberg TV’s “Bloomberg Surveillance” this morning — and he emphasized the indispensable role banks play in meeting the credit needs of their hometowns.
ABA and the Independent Community Bankers of America wrote to the House Appropriations Committee on Friday opposing the use of the congressional spending process as a back door for a credit union-backed provision to further expand their member business lending privileges.
ABA submitted a statement for the record in today’s House Financial Services Committee hearing on protecting consumer financial choices.
The full House yesterday passed a spending bill that includes a provision granting an exemption from derivatives clearing requirements for small bank holding companies.
Despite regulators’ action — and ABA’s lawsuit — after the Volcker Rule to protect existing bank investments in trust preferred securities, community bankers are facing the same issue as the Basel III capital standards come into effect, ABA VP Hugh Carney wrote in an American Banker op-ed today.
ABA added eight banks to its Nasdaq Community Bank Index (ABAQ) today.
FDIC-insured banks and savings institutions earned $39.8 billion in the first quarter, up 6.9 percent from the industry’s earnings a year before, the FDIC said today. Earnings improved as net operating revenue increased, driven by 4.6 percent growth in noninterest income — in particular trading revenue and noninterest income from single-family mortgages — and a 1.5 percent increase in net interest income.