Fed Survey: Unbanked Share of Americans at 6%
Sixty-one percent (up 11 points from 2013) said they could cover a $400 emergency expense in cash, a benchmark often cited by policymakers.
Browsing: Policy
ABA Slams NCUA Proposal Expanding Credit Union Access to Non-Members
The National Credit Union Administration board today proposed a rule that would allow federal credit unions to have up to 50% of their deposits come from other credit unions and government entities, up from a 20% cap today.
Fed Survey: IOER Levels Not Driving Reserve Decisions
Banks do not base decisions on how much they should hold in reserve at the Federal Reserve Banks on their desire to earn the interest paid on excess reserves, according to a Fed survey of senior financial officers released today.
FSB Seeks Input on ‘Too Big To Fail’ Reforms
The Basel, Switzerland-based Financial Stability Board is seeking feedback from industry stakeholders on the post-crisis regulatory reforms for “too big to fail” banks.
Sen. Tillis Introduces Bill to ‘Stop and Study’ CECL
Sen. Thom Tillis (R-N.C.) yesterday introduced a long-awaited bill—S. 1564—calling for a delay in the implementation of the Financial Accounting Standards Board’s current expected credit loss standard until a quantitative impact study can be completed to understand its likely effects it will have on the economy.
ABA, Trade Groups Welcome DOL Rewrite of ‘Overtime Rule’
ABA, along with several other industry trade groups under the Partnership to Protect Workplace Opportunity, today expressed support for the U.S. Department of Labor’s proposed rewrite of the Obama administration’s 2016 overtime rule, which was overturned in federal court.
State Associations Urge Cannabis Hearings in Senate
The 51 state bankers associations today urged the Senate Banking Committee to hold hearings on legislative solutions to the conundrum faced by banks in states where marijuana has been legalized.
Powell Downplays Financial Stability Risks of Corporate Debt
While corporate debt is at near-record levels and recent growth has been concentrated in riskier segments, “business debt does not appear to present notable risks to financial stability,” Federal Reserve Chairman Jerome Powell said today in Florida.
Calabria to Seek Congressional Authority as FHFA Eyes End to GSE Conservatorship
Ensuring that Fannie Mae and Freddie Mac are sufficiently capitalized will be critical for removing the GSEs from conservatorship, FHFA Director Mark Calabria said in a recent Q&A in Politico magazine.
ABA Calls for Senate to Pass NFIP Extension
In a recent letter to congressional leaders, the American Bankers Association called for the extension of the National Flood Insurance program to ensure that millions of Americans can continue to access flood insurance coverage as Congress contemplates more significant changes to the program.