Many participants said that a June rate hike is unlikely, according to the minutes from the April 17-19 Federal Open Market Committee meeting. However, a few participants anticipated that conditions for beginning policy firming will have been met by June.
Just two months remain before the Volcker Rule goes into effect on July 21, and ABA will host a conference call on Wednesday, May 27, to allow bankers to discuss exam preparedness and Volcker-specific compliance issues.
Sen. David Perdue (R-Ga.) yesterday introduced a bill that would subject the Consumer Financial Protection Bureau to the congressional appropriations process, extending Congress’ oversight of the agency. The CFPB is currently funded directly by the Federal Reserve.
Freshman Rep. Tom Emmer (R-Minn.) today took a seat on the House Financial Services Committee. He replaces Rep. Bob Dold (R-Ill.), who was assigned to the House Ways and Means Committee.
ABA’s officers today expressed its support for the financial regulatory reform proposal offered by Senate Banking Committee Chairman Richard Shelby (R-Ala.). The bill, which incorporates several elements of ABA’s Agenda for America’s Hometown Banks, is set to be considered by the committee on Thursday.
Democratic members of the Senate Banking Committee today released a much narrower regulatory relief bill offered as an alternative to the sweeping bill by committee Chairman Richard Shelby (R-Ala.). Shelby’s bill is set to be considered by the committee on Thursday.
Surface benefits for consumers from the 2009 Credit CARD Act have been offset by significant negative effects, ABA told the Consumer Financial Protection Bureau yesterday.
In a comment letter yesterday, ABA called on the Federal Reserve to work with the banking industry to “navigate thoughtfully” in a post-Dodd-Frank Act environment as interest rates return to normal.
The OCC’s Community Developments Insights newsletter published today focuses on how banks can support the market for small multifamily rental housing.
Noting that the average New York state foreclosure takes more than 900 days—twice the national average—and that foreclosures account for nearly three in 10 civil cases on court dockets, the New York Department of Financial Services today recommended that the state legislature take action to speed up the foreclosure process.