House Financial Services Committee Chairman Jeb Hensarling (R-Texas) will unveil major financial reform legislation in early 2016, according to news reports today.
The Basel Committee on Banking Supervision today published a second, revised version of its standardized approach to credit risk, which is intended to build on the Basel risk-based capital framework.
The ABA Foundation announced today that it has partnered with First Book — a nonprofit that provides access to books and educational resources to children in need — to launch the ABA Foundation Book Award Program.
Household net worth fell $1.2 trillion during the third quarter of 2015 to $85.2 trillion, a 1.4 percent decrease from the previous quarter but a 2.9 percent increase from a year ago. Household holdings of nonfinancial assets increased during the third quarter, growing 1.8 percent. The majority of this increase came from real estate holdings,
Credit risk for both retail and commercial loan products has increased over the past three years as and is expected to continue rising in 2016, according to the OCC’s annual Survey of Credit Underwriting Practices.
On Monday, in response to requests by ABA and others in the payments industry, Federal Reserve Governor Jerome Powell said the Fed would review the Federal Reserve Banks’ costs associated with anti-money laundering and compliance as well as a review to determine if any changes to Fed policies, procedures, or fee structures are warranted.
Seventy-five House Republicans and Democrats — including the chairmen of the committees on energy and commerce, financial services and science and technology — wrote to leaders of the congressional intelligence committees today opposing the controversial Section 407 of the Cybersecurity Information Sharing Act passed by the Senate.
The House Financial Services Committee today voted by a strong 46-9 margin to advance the bipartisan Data Security Act (H.R. 2205), which would establish a national data security and breach notification standard for financial institutions and retailers.
A large majority of banks provide small dollar loans effectively (with low charge-offs) and have the capacity to expand their small dollar lending, were market and regulatory conditions to allow for it, according to an ABA survey of senior bank officers.