ABA in a letter Friday formally requested the opportunity to work with the IRS to resolve the issue of whether and how to report — on IRS Form 1098, Mortgage Interest Statement — any accrued but unpaid interest that is added to the principal of modified loans. The letter asks the IRS to engage on
Frank Keating discusses top banking issues—from regulatory relief and cybersecurity to de novos and the future of the mutual charter—with Comptroller of the Currency Thomas Curry.
Reps. Ed Royce (R-Calif.) and Patrick Murphy (D-Fla.) on Friday introduced a bill to improve the operations of the Treasury Department’s Office of Financial Research.
By a bipartisan 303-121 vote, the House last night passed H.R. 3192, which would provide a safe harbor from enforcement actions and private civil actions for lenders making good-faith efforts to implement the new TILA-RESPA integrated disclosures. The safe harbor would extend to Feb. 1.
Bankers are committed to helping small business partners as the payment industry leads the ongoing transition to chip-based EMV card technology, ABA said in a statement for the record for a House Small Business Committee hearing.
In unanimous votes, the House last night passed two bills consistent with ABA’s Agenda for America’s Hometown Banks. H.R. 1553, introduced by Reps. Scott Tipton (R-Colo.), Lacy Clay (D-Mo.) and Andy Barr (R-Ky.), would raise the asset threshold for qualifying for the 18-month exam cycle from $500 million to $1 billion.
Building on the success of last week’s phone-your-senator push, this week ABA is encouraging all bankers to tweet their senators urging them to support S. 1484, Sen. Richard Shelby’s regulatory relief package for banks and their customers.
The full House is expected to vote this week on two bipartisan bills that are part of ABA’s Agenda for America’s Hometown Banks. H.R. 1553, introduced by Reps. Scott Tipton (R-Colo.), Lacy Clay (D-Mo.) and Andy Barr (R-Ky.), would raise the asset threshold for qualifying for the 18-month exam cycle from $500 million to $1 billion.
The House Financial Services Committee yesterday passed three ABA-supported bills addressing the Consumer Financial Protection Bureau and proposed limitations on retirement advice.
In her opening remarks for the St. Louis Fed’s third annual Community Banking Research and Policy Conference, Federal Reserve Chairman Janet Yellen emphasized the importance of tailored regulation of banks with different asset bases and business models.