The Supreme Court today held that the Consumer Financial Protection Bureau may continue to operate, but ruled that the bureau’s single powerful director must be able to be removed at will by the president.
The FDIC today finalized an ABA-supported rule codifying that permissible interest on loans made by state-chartered banks and insured branches of foreign banks remains valid when a loan is transferred or sold.
The American Bankers Association joined a broad coalition of financial and housing industry groups today in a letter of support for a recent bill, S. 3990, that would replace the Consumer Financial Protection Bureau’s sole director with a bipartisan, five-member commission.
To facilitate banks’ needs to hold meetings during the coronavirus pandemic, the OCC is issuing an interim final rule clarifying that national banks and federal thrifts may hold virtual board, shareholder and (as applicable) member meetings using remote communication tools.
As states begin to slowly reopen local economies and businesses begin to resume normal operations, ABA joined a broad coalition of advocacy groups and other organizations in a letter today urging lawmakers to enact “temporary and targeted liability relief legislation” to safeguard businesses, nonprofits and others from lawsuits as employees return to workplaces.
AI, machine learning and alternative data are helping banks and nonbanks alike make faster decisions and expand access to credit. While fair lending concerns about “black boxes” have impeded wider adoption of these technologies, the regulatory environment is shifting.
Ten key factors to keep in mind next time you prepare to negotiate a core contract.
With proper documentation, solid process and a clear set of best practices, legal review can look less like a hurdle to cross and more like a valuable means to improving content you’re creating for your bank
Amid the coronavirus pandemic, cybersecurity and fraud analysts have noted an uptick in “money mule” scams. Banks increasingly need to be on the lookout for the telltale signs of these scams.
ABA this week petitioned the U.S. Supreme Court to review a lower court ruling in the association’s challenge of the National Credit Union Administration’s 2016 field of membership rule.