OCC Gives Banks Green Light to Hold Deposits Backing Stablecoins
In an interpretive letter, the OCC gave institutions under its supervision the greenlight to hold deposits that serve as reserves for “stablecoins.”
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Fed Issues Its Own CRA Modernization Proposal
The Federal Reserve today issued an advance notice of proposed rulemaking on updating the agency’s three-decade-old Community Reinvestment Act regulations.
Americans Prioritize Saving Since Start of Pandemic
A majority of American have prioritized saving money since the start of the pandemic, according to a new report from Regions Bank.
ABA Launches ‘Vote 2020’ Website ahead of Election
With less than two months until the 2020 election, ABA has launched a new voter resource center on its Secure American Opportunity grassroots platform.
Fed Survey: Household Financial Conditions Improve Since July, Uncertainty Remains
Household financial conditions improved in July from April but uncertainties about layoffs and returning to work remain, according to a new report the Federal Reserve released today.
ABA Data Bank: Two in Three Banks Implemented or Upgraded Tech to Serve Customers’ Needs, Enable Remote Work
The top four technologies that banks implemented or upgraded as a result of the COVID-19 pandemic.
Fed Updates Main Street Lending Program FAQs
The Federal Reserve today clarified its expectations for lenders when underwriting Main Street Lending Program loans.
ABA, 51 State Bankers Associations Urge Treasury, SBA to Streamline PPP Forgiveness
The American Bankers Association and 51 state bankers associations today urged the Treasury Department and the Small Business Administration to create a streamlined a Paycheck Protection Program loan forgiveness process.
ABA, Trade Groups Urge Lawmakers to Support Bills to Streamline PPP Loan Forgiveness
With Congress deadlocked on a COVID-19 relief bill, the American Bankers Association and more than 100 financial service, business and nonprofit trades today urged lawmakers to pass standalone Paycheck Protection Program loan forgiveness legislation that would streamline the process for small business borrowers.
Federal Reserve Issues Scenarios for Second Round of Stress Tests
The Federal Reserve today released two hypothetical economic and financial market scenarios that it will use in the next round of bank stress tests for the nation’s largest financial institutions.