ABA: FDIC Should Set Standards for Disapproval of ILC Transactions
The FDIC should clearly set out the circumstances under which it would be required to disapprove a deposit insurance application or other industrial...
Policy
State AGs Express Support for Bill to Create Beneficial Owner Registry
Forty-two state attorneys general wrote to Senate Banking Committee leaders today in support of S. 2563, the Illicit Cash Act,...
ARRC Announces Spread Adjustment Methodologies, Issues New Fallback Language
The Alternative Reference Rates Committee today outlined how it will implement its methodologies for calculating spread adjustments on financial products...
Powell: Fed ‘Not Looking to Raise Capital Standards During Crisis’
Testifying before the House Financial Services Committee today, Federal Reserve Chairman Jerome Powell again emphasized the strong position of the...
Mnuchin Discusses Future of PPP At House Committee Hearing
With the Small Business Administration’s Paycheck Protection Program officially winding down tonight, Treasury Secretary Steven Mnuchin told the House Financial...
Financial Trades Call for Equal Treatment of Banks, CUs on Military Bases
In a letter to House and Senate Armed Services Committee leaders today, the American Bankers Association, the Association of Military...
ABA Flags Issues Around Fed’s Reg D Changes
The American Bankers Association today expressed support for the Federal Reserve’s removal of the six-per-month limit on transfers or withdrawals...
OCC Warns of Compliance Risk as Banks Adapt to COVID-19 Changes
The OCC today cautioned banks to be vigilant about compliance risks that could arise as a result of their response...
Supreme Court: CFPB Director Must Be Removable ‘At Will’
The Supreme Court today held that the Consumer Financial Protection Bureau may continue to operate, but ruled that the bureau’s...
ABA Comments on IRS Proposal on Trust and Estate Deductions
In a comment letter last week, ABA offered feedback on a recent IRS proposal to address the treatment of deductions...
