Rep. Emmer Added to House Financial Services Committee
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.
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ABA Expresses Support for Shelby Reg Reform Bill
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.
Senate Democrats Unveil Competing Regulatory Relief Bill
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.
ABA Finds Limited Credit Availability, Higher Credit Costs Since CARD Act
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.
ABA to Fed: Tread Carefully with Interest Payments on Reserves
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.
OCC Examines Financing Small Multifamily Rentals
The OCC’s Community Developments Insights newsletter published today focuses on how banks can support the market for small multifamily rental housing.
N.Y. State Envisions Penalties for Foreclosure Delays
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.
Housing Starts Jump to Highest Level Since 2007
Housing starts in April rose to a seasonally adjusted annual rate of 1.135 million, 20.2 percent above the revised March estimate of 944,000 and 9.2 percent above the April 2014 rate of 1.039 million. Single-family housing starts grew at a rate of 733,000, 16.7% above the revised March figure of 628,000.
ABA Welcomes Proposal Requiring Legal Entity IDs on Forms
ABA today welcomed the Federal Reserve’s proposal to require banking organizations to include their current 20-digit legal entity identifiers on several regulatory forms¬—namely, FR Y-6, FR Y-7 and FR Y-10.
Op-Ed: Credit Unions a ‘$1 Trillion Tax-Exempt Cash Cow’
Many credit unions are functionally no different from banks and the time has come for them to pay taxes, Florida Bankers Association President and CEO Alex Sanchez said in a Wall Street Journal op-ed yesterday.