The FDIC today finalized updates to its frequently asked questions on identifying, accepting, and reporting brokered deposits.
The ABA HSA Council’s Board of Directors met in Washington D.C., June 28-29 to discuss the future of health savings accounts in light of the elections this fall and to visit with members of Congress about pending legislation expanding contributions to HSAs.
ABA today urged the National Credit Union Administration to withdraw a proposed rule that would give federal credit unions greater incentives to spend depositors’ money on acquiring commercial real estate for leasing and on speculative real estate investments — all while taking commercial properties off of local tax rolls.
In a joint letter with three other financial trade associations today, ABA responded to an FDIC proposal that would require banks with more than 2 million deposit accounts to collect extensive depositor information and develop systems that would allow the FDIC to close the bank and use the bank’s system to make deposit insurance determinations.
In an op-ed in The Hill today, ABA President and CEO Rob Nichols called for the repeal of the Dodd-Frank Act’s Durbin Amendment, which he said has negatively affected banks’ ability to serve their customers and failed to deliver its promise of lower prices for consumers.
The House Financial Services Committee yesterday released the full text of the Financial Choice Act, a nearly 500-page bill aimed at rolling back the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks of all sizes.
House Ways and Means Committee Chairman Kevin Brady (R-Texas) today issued the House Republicans’ proposal for tax reform, which includes substantial simplification of rates and brackets, as well as major reforms to the Internal Revenue Service.
The state bankers associations today wrote to Rep. Randy Neugebauer (R-Texas) to express their support for a bill he introduced earlier this month that would repeal Dodd-Frank’s Durbin Amendment and eliminate the government-imposed price caps on debit card interchange.
The largest U.S. banks collectively showed that they can withstand a severe economic downturn and continued to improve their capital positions, according to the results of Dodd-Frank Act-mandated stress tests the Federal Reserve released today.
With many banks struggling to be ready for the Military Lending Act regulatory changes taking effect in October, Department of Defense officials signaled that the Pentagon is working on changes that would facilitate compliance.