The Federal Reserve and FDIC announced Wednesday that the eight largest U.S. banks did not have deficiencies in their most recent resolution plans, also known as living wills.
The American Bankers Association on Tuesday asked the federal agency responsible for developing technical accessibility standards to exclude ATMs and other bank devices from proposed rulemaking for self-service transaction machines, or SSTMs.
The Department of Labor finalized a new rule regarding environmental, social and governance investing and a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.
As the Federal Trade Commission explores a rulemaking to govern the collection of personal data for commercial purposes, it should consider the current landscape of federal and state laws on data security and avoid pursuing regulations that discourage innovation that has benefitted consumers in financial services, the American Bankers Association said Monday in comments filed with the agency.
The FDIC has proposed changes to its new supervisory appeals structure aimed at increasing its independence, but the system still requires significant overhauls to preserve banks’ due process rights, the American Bankers Association and four banking trade groups said today in a joint letter to the agency.
Responding to a misleading statement about credit card and overdraft fees from President Joe Biden’s official Twitter account, the American Bankers Association today noted that the CFPB sets the allowable amount for credit card late fees, and like fees for overdraft protection, they are highly regulated and fully disclosed to consumers by law.
The U.S. Department of Labor failed to seek advance input from affected parties—as required by official rulemaking procedures—before issuing proposed amendments to the Qualified Professional Asset Manager exemption, the American Bankers Association said Thursday during a public hearing on the proposal.
Amid significant volatility in the cryptocurrency markets, as well as an uptick in crypto-related frauds and scams, Acting Comptroller of the Currency Michael Hsu today praised the “quiet trustworthiness of banks,” and highlighted the OCC’s “careful and cautious” approach to crypto activities by national banks.
Acknowledging that the FDIC does not currently incorporate the financial risk of climate change into its supervisory program, Acting Chairman Martin Gruenberg said today the agency needs to “clearly communicate” what its intentions are as it begins to explore those risks.
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.