Browsing: Policy

Policy

By an overwhelming bipartisan vote of 415-9 today, the House passed H.R. 4616, the Adjustable Interest Rate (Libor) Act, an ABA-advocated bill that would address “tough legacy” contracts that currently reference Libor, which will cease to be published by June 2023.

Policy

The OCC identified principles for banks to implement what it calls “responsible overdraft programs that benefit financially vulnerable consumers,” while continuing to encourage banks to offer other options for short-term, small-dollar credit, Acting Comptroller of the Currency Michael Hsu said in a speech today.

ABA Banking Journal Podcast Podcast: The State of Play for Digital Lending

The digital banking product changes triggered by the Paycheck Protection Program and pandemic-related digital banking needs have pushed banks to innovate like never before, says Accenture’s Bina Rajput. “It’s pushed a lot of these institutions to say ‘What’s next? How can I make this process better, and better, and better?”

Newsbytes

Ahead of a House Financial Services Committee hearing on digital assets today—at which the heads of several cryptocurrency firms will testify—the American Bankers Association submitted a statement for the record emphasizing the need for bank-like regulations for companies offering digital assets to consumers.

Newsbytes

Saule Omarova—President Biden’s nominee to serve as the next comptroller of the currency—today announced that she would withdraw her name from consideration after several Democratic senators signaled their opposition to her nomination.

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