Federal Home Loan Banks are a vital liquidity source for their member institutions and have been since the FHLB system was established, ABA and 51 state and territorial banking associations said this week in a joint letter to the Federal Housing Finance Agency.
Senate Banking Committee Democrats today asked Treasury Secretary Janet Yellen for an assessment of possible regulatory and legislative changes needed to strengthen the financial system following the failures of Silicon Valley Bank and Signature Bank.
In a letter this week, the American Bankers Association raised several concerns about the Consumer Financial Protection Bureau’s plan to create a public registry of nonbank entities that are subject to orders involving consumer protection laws, including the agency’s claim that banks may one day be required to register.
President Biden today called on banking regulators to reinstate rules on regional banks that were “rolled back” during the Trump administration, including rules concerning liquidity stress testing.
The CFPB released a long-awaited final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses, including women-owned and minority-owned small businesses.
The American Bankers Association this week filed a comment letter recommending the adoption of an IRS proposal to make permanent an exemption to the physical presence requirement for spousal consents.
Fees for overdraft services present a variety of risks for banks, but the goal of regulators is to make the fees more friendly to consumers, not to eliminate them, Acting Comptroller of the Currency Michael Hsu said this week.
In a recent letter to the IRS, the American Bankers Association urged the agency to consider clarifications to its proposed regulations on the application of the new corporate alternative minimum tax, or CAMT, which was created last year through the passage of the Inflation Reduction Act.
The Federal Reserve is reviewing its capital and liquidity standards for all large banks following the closures of Silicon Valley Bank and Signature Bank, including those with more than $100 billion in assets, Fed Vice Chairman Michael Barr said this week.
Government Relations Council Chair Cathy Owen on how a good reputation paves the way for effective advocacy and leadership.