Boland settled with the SEC in May and paid a $75,000 penalty. Boland was not required to admit or deny misconduct and did not receive an industry bar.
The Basel Committee on Banking Supervision’s proposed interest rate risk capital requirement is fundamentally flawed and could ultimately increase interest rate risk, ABA and another trade group said in a comment letter on Friday.
In an interview published in Washington Examiner on Saturday, incoming ABA President and CEO Rob Nichols emphasized regulatory relief as the top legislative priority for the fall at ABA.
While expressing support for the purpose of FDIC’s proposal to revise premium assessments for banks with under $10 billion in assets, ABA in a comment letter Friday also recommended several changes.
With a provision that would reduce the dividends paid on Federal Reserve Bank stock to Fed member banks still being floated as a revenue-raising measure on Capitol Hill, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) today asked the Government Accountability Office to study the Fed stock ownership structure and report back to Congress.
ABA today voiced its opposition to a bill, introduced yesterday by Sens. Rand Paul (R-Ky.), Sheldon Whitehouse (D-R.I.) and Jack Reed (D-R.I.) that would raise the member business-lending cap for certain credit unions from 12.25 percent to 27.5 percent of total assets.
House Financial Services Committee Chairman Jeb Hensarling (R-Texas) yesterday wrote to the Department of Education challenging its proposed rule that includes some provisions regulating campus bank accounts.
The OCC today issued a statement about a supposedly Florida-based entity called Faith National Bank, which the OCC said is not authorized to conduct business as a national bank.
Eighty-eight percent of banks carry cyber insurance, but their specific policies differ in what they cover.