Keeping Banking Bipartisan in 2020
ABA’s advocacy successes in recent years are laying the groundwork for a return to bipartisanship on banking issues.
Browsing: Policy
Nichols Op-Ed: Philly Public Bank Proposal Creates Taxpayer Risk
Private-sector banks provide extensive service that eliminates any need for the city of Philadelphia to take on the taxpayer risk of starting a public bank, ABA President and CEO Rob Nichols argued in a Philadelphia Inquirer op-ed yesterday.
ABA’s Mercer Highlights Banks’ Progress in Diversity, Inclusion
In testimony before a House Financial Services subcommittee today, American Bankers Association SVP Naomi Mercer highlighted the strides banks have made toward building a more diverse, equitable and inclusive workforce and discussed some of the challenges they face in this area.
N.Y. Fed: SOFR Averages, Index to Be Published Starting in March
The Federal Reserve Bank of New York today published its final calculation methodology for determining the daily compounded averages of the Secured Overnight Financing Rate, as well as the daily SOFR index that will allow users to calculate average rates over customer time periods.
Quarles Makes Case for Fed Supervision Revamp
Taking note of the inherent tension in bank supervision between the need for confidentiality and tailoring on one hand and accountability and predictability on the other, Federal Reserve Vice Chairman for Supervision Randal Quarles today elaborated on his plans to revamp how the Fed supervises banks.
SBA Seeks Additional Comments on Changes to Express Loans, Affiliation Standards Rule
The Small Business Administration this week issued an interim final rule amending various regulations governing its business loan programs, including changes to the popular 7(a) program.
Fed’s Powell: Financial System ‘Generally in a Good Place’
Federal Reserve Chairman Jerome Powell told House lawmakers today that the U.S. financial system is “strong, and has been materially strengthened since the financial crisis.”
FDIC Makes ABA-Advocated Change to Deposit Insurance Application Manual
The FDIC today announced several changes to its Deposit Insurance Application Procedures Manual.
Quarles Floats Technical Changes to Liquidity Regulation, Supervision
In remarks in New York last night, Federal Reserve Vice Chairman for Supervision Randal Quarles suggested that making reserves and Treasury securities more interchangeable from a liquidity regulation and supervision perspective could help improve the efficiency of the financial system and prevent sudden liquidity crunches in the markets, such as those that occurred last September.
ABA: Interest Rate Caps Would Harm Consumers
The American Bankers Association today warned lawmakers of the potential consequences of imposing interest rate caps on consumer credit products.