The International Monetary Conference, for which ABA serves as secretariat, convenes today in Toronto, where the heads of financial institutions from 29 countries will hear from Federal Reserve Vice Chairman Stanley Fischer, Canadian Finance Minister Joe Oliver and other top banking and corporate leaders.
First Tennessee Bank admitted to originating and underwriting loans that were not eligible for Federal Housing Administration insurance.
U.S. real GDP for the first quarter decreased at a rate of 0.7 percent, according to the second estimate released by the Bureau of Economic Analysis.
Consumer sentiment declined to 90.7 in May, down 5.2 points from the previous month, according to the University of Michigan Consumer Sentiment Index.
The new .bank and .insurance domains coming online this year will provide an “incredible opportunity” to provide a more secure payments infrastructure, ABA and the Financial Services Roundtable said in a letter to the Federal Reserve officials leading the Fed’s faster payments initiative.
The June issue of ABA Bank Marketing and Sales, now available online for subscribers, features a cover story on how bankers can optimize their branch networks and find the best use for each remaining facility. The article explores strategic decision-making as well as data tools that can provide valuable insights.
Following the catastrophic flooding in Texas and Oklahoma, the OCC today declared an emergency in the affected areas and said that national banks and federal thrifts would be permitted, at their own discretion, to close branches and offices in the affected areas.
Federal Communications Commission Chairman Tom Wheeler yesterday circulated a summary of his proposal to clarify the Telephone Consumer Protection Act’s restrictions on autodialed calls and texts. One item to be addressed is ABA’s petition to the agency for an exemption from TCPA’s requirement for “prior express consent” for autodialed calls to alert bank customers to fraudulent transactions, data breaches and actions required to complete funds transfers.
More than 544,000 borrowers in the first quarter refinanced their Fannie Mae or Freddie Mac mortgage loans, with about 31,600 of those happening through the Home Affordable Refinance Program, the Federal Housing Finance Agency said yesterday.