The full House is expected to vote this week on a pair of ABA-supported bills designed to enhance cyber threat information sharing.
To help the FDIC determine promptly whether deposits are insured or not after a bank fails, the FDIC today requested comment on a proposed set of new recordkeeping standards for large banks — those with more than 2 million deposit accounts. The proposal would apply to 37 of the country’s largest banks, the agency estimated.
Customers deserve the same level of protection whether they do business with nonbank payment startups or banks, ABA President and CEO Frank Keating said in an American Banker op-ed today. Keating was responding to arguments by former Treasury Secretary Larry Summers that nonbanks are at a regulatory disadvantage. “Banks provide extensive protections to consumers on
FICO today said it is expanding access to its FICO Score Open Access program.
Balances held in Google Wallet — the mobile payment service offered by the California tech giant — will now be protected by federal deposit insurance, according to press reports this week.
The Financial Accounting Standards Board’s own Investor Advisory Committee last week became the latest group to express mixed opinions on FASB’s current expected credit loss proposal, which would require expected credit losses over the life of a loan to be recorded at the time of origination. The 10-member IAC includes a member from the Federal
The FDIC today announced phase two of its pilot program aimed at identifying the best approaches to bank-school programs that combine financial education with access to low-cost savings accounts.
The ABA Compliance Network recently surpassed the 5,000-member mark, providing ABA member bank compliance professionals with nearly a free, private online forum to ask questions and share ideas, insights and resources.
The Federal Reserve recently proposed changes to Form FR 2420, a daily report of money market transactions — including federal funds purchased, certain time deposits and Euro dollar liabilities — that will used by the Fed to calculate the federal funds rate.
The House Financial Services Committee’s Task Force to Investigate Terrorism Financing will hold a hearing on April 22 on global terrorism and terrorist financing.