CFPB to lenders: Algorithms, AI used in credit decisions must be explainable
In a new circular, the CFPB said that under the Equal Credit Opportunity Act and Regulation B, creditors are not...
Newsbytes
ABA raises compliance concerns about RMD proposal for IRAs
ABA this week raised concerns about the Internal Revenue Service’s proposed required minimum distribution rule for retirement plans and IRAs,...
Real GDP decreases 1.5% in first quarter
Real GDP decreased at a seasonally adjusted annual rate of 1.5% during the first quarter of 2022, according to the...
McHenry discusses supply chain, crypto regulation at economic forum
Rep. McHenry (R-N.C.), ranking House Financial Services Committee member, said a well-regulated space is necessary for the digital asset/cryptocurrency ecosystem.
ABA’s Nichols: Despite economic headwinds, banks are healthy and prepared
While uncertainty surrounds the U.S. economy at present, America’s banks remain healthy and prepared to support the communities they serve.
CSBS urges lawmakers to include SAFE Banking Act in Competes Act
As lawmakers attempt to reconcile the House and Senate versions of the America Competes Act, the Conference for State Bank...
Study: Personal loan market sees post-pandemic growth
The personal loan market is making a resurgence after slowing during the pandemic, according to a report released today by...
Verizon report: cyber incidents, breaches driven by external actors
A majority of data breaches during 2021—73%—were perpetrated by external actors, according to findings from Verizon’s latest global data breach...
New orders for manufactured durable goods increase in April
New orders for manufactured durable goods in April increased $1.2 billion or 0.4% to $265.3 billion, the U.S. Census Bureau...
IBFED comments on OECD ‘Pillar One’ tax exclusion for financial services
The International Banking Federation—of which ABA is a member—filed a comment letter last week with the Organization for Economic Cooperation...
