Fed finalizes rule expanding Durbin routing requirements to card-not-present transactions
The Federal Reserve today finalized a controversial, ABA-opposed rule expanding Regulation II, the implementing regulation for the Durbin Amendment.
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Bank trade groups call out misleading Warren report on Zelle fraud
ABA today joined three financial trade associations in pushing back against a report issued by Sen. Elizabeth Warren (D-Mass.) examining fraud related to instant payments sent via the Zelle network.
FSOC urges lawmakers to develop ‘comprehensive’ stablecoin regulatory regime
A new report from the Financial Stability Oversight Council today warned of the dangers that cryptocurrencies and other digital assets “if their interconnections with the traditional financial system or their overall scale were to grow without adherence to or being paired with appropriate regulation.”
ABA comments on proposed update to CRE loan accommodations statement
ABA today submitted comments on an interagency proposal to update a 2009 policy statement regarding accommodations and workouts for commercial real estate loans whose borrowers are experiencing financial difficulty. Specifically, the proposal would update the policy by recognizing the recent elimination of accounting for troubled debt restructurings.
Construction spending falls in August
Construction spending was at a seasonally adjusted annual rate of $1,781.3 billion in August, 0.7%…
ISM Manufacturing expands in September
The ISM Manufacturing Index registered 50.9% in September; 1.9 points lower than Augusts reading of…
ABA Foundation raising funds for Florida disaster relief
The American Bankers Association Foundation announced today that it will collect tax-exempt contributions through its Disaster Relief Program to aid relief efforts in Florida after the devastation caused by Hurricane Ian.
FDIC’s Gruenberg addresses evolving climate change risk for banks and regulators
Banks have managed weather-related events and risks well, but things are changing and regulators and banks of all sizes will need to adapt.
ABA announces launch of third annual anti-phishing campaign
As the industry observes Cybersecurity Awareness Month in October, ABA President and CEO Rob Nichols announced the launch of the third annual #BanksNeverAskThat campaign, the latest iteration of ABA’s award-winning campaign geared at educating consumers about the persistent threat of phishing scams.
ABA releases new book on enhancing DEI programs
ABA today released “DEI Foundations: Practices to Accelerate Your Bank’s DEI Journey,” a new book by Naomi Mercer, ABA’s senior vice president of diversity, equity and inclusion, which details ways banks and other businesses can expand and enhance their diversity, equity and inclusion initiatives.