Browsing: Policy

Newsbytes

Warning against “the mistake of believing that we have put an end to financial crises” at the International Monetary Conference in Toronto today, Federal Reserve Vice Chairman Stanley Fischer defended the international post-financial crisis regulatory regime as necessary to prevent similar crises in the future.

Compliance and Risk

The Federal Reserve, FDIC and OCC on Friday launched the third round of comments in the decennial Economic Growth and Regulatory Paperwork Reduction Act review cycle, which is mandated by Congress in order to identify bank regulations that are outdated, unnecessary or burdensome.

Newsbytes

The Dodd-Frank Act’s asset threshold for systemically important financial institutions is set too low and should be replaced by a more tailored approach, ABA President and CEO Frank Keating said in a letter to the editor published Sunday in the Washington Post.

Newsbytes

The regulatory reform bill introduced by Senate Banking Committee Chairman Richard Shelby (R-Ala.) was approved by the committee today. The ABA-supported bill would provide regulatory relief for community, mid-size and regional banks, tailor the regulatory structure for systemically important banks and begin restructuring within the Federal Reserve System and at Fannie Mae and Freddie Mac.

Newsbytes

All 53 state bankers associations yesterday expressed their support for the financial regulatory reform proposal offered by Senate Banking Committee Chairman Richard Shelby (R-Ala.). The bill is set to be considered by the committee later today.

Newsbytes

Sen. David Perdue (R-Ga.) yesterday introduced a bill that would subject the Consumer Financial Protection Bureau to the congressional appropriations process, extending Congress’ oversight of the agency. The CFPB is currently funded directly by the Federal Reserve.

Community Banking

ABA’s officers today expressed its support for the financial regulatory reform proposal offered by Senate Banking Committee Chairman Richard Shelby (R-Ala.). The bill, which incorporates several elements of ABA’s Agenda for America’s Hometown Banks, is set to be considered by the committee on Thursday.

Newsbytes

ABA and other trade groups sent a letter to the committee on Friday thanking Senate Banking Committee Chairman Richard Shelby (R-Ala.) for drafting his regulatory relief proposal, describing it as an “important step toward addressing the statutory and regulatory obstacles that stymie banks and credit unions from more fully serving the diverse financial needs of American consumers.”

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