ABA and other agricultural trade associations wrote to the House and Senate Appropriations subcommittees on agriculture today asking lawmakers to include additional funding for the Farm Service Agency’s farm loan programs in the FY 2017 budget bill.
The full House is expected later this week to vote on the ABA-advocated Systemic Risk Designation Improvement Act (H.R. 1309), which would eliminate the automatic designation of banks as systemically important based solely on asset size.
The OCC today released its bank supervision operating plan for fiscal year 2017, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year starting on Oct. 1.
New York’s Department of Financial Services today issued a new set of proposed regulations on cybersecurity, the first of its kind from a state regulator.
The House Financial Services Committee today approved the Financial Choice Act, a major regulatory reform bill introduced by committee chairman Jeb Hensarling (R-Texas). It passed by a vote of 30 to 26, with no Democrats voting in favor and one Republican, Bruce Poliquin of Maine, voting against as well.
Speaking to a conference of marketplace lenders, Comptroller of the Currency Thomas Curry today outlined features of a possible “fintech charter” for nonbank financial technology firms, which the OCC is considering whether to grant.
In a letter to Senate Banking Committee leadership yesterday, ABA and other financial services and insurance trade associations outlined principles for regulatory reform with respect to flood insurance.
As the House Financial Services Committee prepares to consider Chairman Jeb Hensarling’s Financial Choice Act tomorrow, ABA this afternoon sent a memo thanking Hensarling for putting forth the bill, which would roll back the Dodd-Frank Act’s extensive supervisory regime and provide regulatory relief for banks of all sizes.
In an effort to enhance its ability to grant new limited purpose charters, the OCC is issuing a proposed rule that would address how the agency will handle receiverships for national banks not insured by the FDIC, such as trust banks and other special purpose charters.
After eight years of sluggish economic growth, despite the most accommodative stretch of monetary policy in the nation’s history, two trade group chiefs argued that excessive bank regulation may be to blame.