The American Bankers Association joined a coalition of nine other trade associations in a letter opposing a bill introduced in the California State Assembly that would create a public banking program, BankCal, within the state treasurer’s office that would provide financial services to California residents.
The FDIC is setting up a Mission-Driven Bank Fund to help support minority depository institutions and community development financial institutions, FDIC Chairman Jelena McWilliams said today.
Neither the Federal Housing Finance Agency or the banking industry “currently have the expertise to recommend or make changes to enhance the supervisory and regulatory framework” of Fannie Mae, Freddie Mac and the Federal Home Loan Banks with regard to climate-related factors, ABA said in a letter to FHFA today.
The Treasury Department today announced a new climate policy strategy intended to “bring to bear the full force of [Treasury] on domestic and international policymaking, leveraging finance and financial risk mitigation to confront the threat of climate change.”
In two letters to House leaders today, the American Bankers Association and 51 state bankers associations expressed support for the SAFE Banking Act of 2021, which would provide a safe harbor for depository institutions seeking to serve legitimate cannabis-related businesses in states where such activity is legal.
The Federal Reserve found “remarkable stability in the actual and expected uses of stimulus checks” across all rounds of Economic Impact Payments, with most funds going towards saving and debt payments.
In a letter to Treasury Secretary Janet Yellen and Federal Housing Finance Agency Director Mark…
The Consumer Financial Protection’s fair lending work “is and will continue to be a critical component of the bureau and the federal government’s response to the pandemic and the elimination of racial injustice,” the bureau noted this week in its annual Fair Lending Report to Congress.
ABA today called for more congressional oversight in light of recent efforts by federal and state agencies to create new bank charters or apply new interpretations to traditional charters that would allow entities to enjoy bank-like benefits while circumventing the rigorous regulatory framework that applies to traditional banks.
NFL Quarterback Alex Smith will deliver keynote remarks during ABA’s 2021 Emerging Leaders Forum, to be held virtually April 28-29.