ABA Responds to Agencies’ Volcker Rule Regulatory Reform Proposal

The American Bankers Association today offered feedback to the financial regulatory agencies on proposed reforms to the Volcker Rule that would simplify the rule’s compliance burden and better target its effects toward intended activities. In the comment letter — which reflected input from three ABA-led banker working groups — the association commended the agencies for their efforts to amend the ...

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Mulvaney: CFPB to Provide Clarity on UDAAP Standard

The Consumer Financial Protection Bureau will likely issue a rule to define what kinds of practices it considers "abusive" under the Dodd-Frank Act, providing greater clarity to the controversial UDAAP standard created by the statute, Acting Director Mick Mulvaney said today. 

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ABA Urges FDIC to Rescind Overdraft, Deposit Advance Guidance

In response to the FDIC’s recently announced initiative to streamline its Financial Institution Letters and other communications, the American Bankers Association in a comment letter on Wednesday urged the FDIC to withdraw its supervisory expectations with respect to bank overdraft payment programs and to rescind its 2013 guidance on deposit advance programs.

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