GOP Members Press Agencies on ‘Choke Point’
Several GOP members of the House Financial Services Committee wrote to leaders of the Federal Reserve, CFPB and OCC to urge them to formally disclaim any involvement in Operation Choke Point.
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Fed Adopts ABA-Advocated Rule Expanding Small Bank Relief
The Federal Reserve yesterday adopted a final rule that expands the regulatory relief provided by its small bank holding company policy statement.
CFPB Lawsuit Targets Payment Processors
The Consumer Financial Protection Bureau yesterday announced it had filed a lawsuit against several individuals and companies involved in what it said was a robo-calling phantom debt collection operation.
Fed Declines Basel III Fix for Sub S Banks
Federal Reserve Chairman Janet Yellen yesterday responded to a letter several House members sent last fall urging regulators to resolve a problem for Subchapter S banks posed by Basel III’s capital conservation buffer. Yellen declined to pursue any policy change, stating that the Fed “continues to believe that the capital conservation buffer should be applied equally to all banking organizations.”
ABA Urges Changes to CFPB Complaint Narrative Database
ABA President and CEO Frank Keating in a letter yesterday shared members’ concerns about the Consumer Financial Protection Bureau’s recent decision to publish consumer complaint narratives, and he urged the bureau to improve its portal and database to help “mitigate unfair and inaccurate reputational damage to the banking industry.”
U.S. Supreme Court Provides Roadmap to Avoid Baby Bump Blunders
On March 25, 2015, the Supreme Court issued its long-awaited opinion in Young v. United Parcel Service, Inc. to address whether, and to what extent, the Pregnancy Discrimination Act requires reasonable accommodations of pregnancy-related health issues and restrictions.
Texas District Court Enjoins DOL’s FMLA Same-Sex Spouse Rule
Whatever the outcome of this rule, it may be moot depending on the Supreme Court’s decision in the four same-sex marriage cases it will decide this term.
Keating Shares Banking Perspective in NYC Interviews
ABA President and CEO Frank Keating offered perspective on a wide range of issues — from banking regulation, interest rate increases and the low labor force participation rate to the Meerkat app and presidential politics — in interviews with New York City media outlets yesterday.
ABA: Use ANPRs to Better Inform International Standard Setting
The banking agencies should use an advance notice of proposed rulemaking process to formally solicit public and congressional input prior to engaging in international standard-setting discussions, ABA said in a letter to regulators Monday.
ABA Urges Bankers to ‘Tell Your Story’ to Congress
ABA yesterday urged bankers and state associations to ramp up their communications with members of Congress and “tell your story” when explaining why various legislative solutions are needed.