Rep. Scott Tipton today introduced the TAILOR Act (H.R. 2896), which would require financial regulators to consider bank risk profiles and business models when taking regulatory actions. The bill — a part of ABA’s Agenda for America’s Hometown Banks — has been strongly advocated by ABA and the alliance of state bankers associations.
The Federal Reserve is pursuing improvements to the stress testing process of systemically important banks, Fed Vice Chairman Stanley Fischer said today in a speech at a conference in Stockholm. In addition asking for feedback from financial institutions, the Fed asked market analysts and academics to come forward with suggestions on “how to overhaul the process,” Fischer said.
ABA is urging bankers to take grassroots action in support of the Financial Regulatory Improvement Act, the financial reform proposal introduced by Senate Banking Committee Chairman Richard Shelby (R-Ala.).
The Basel Committee on Banking Supervision today finalized a common format for internationally active banks to disclose the Net Stable Funding Ratio standard that is expected to take effect in January 2018 following rulemaking in individual countries.
The National Credit Union Administration Thursday proposed substantial changes to its member business lending regulations. Among other things, NCUA proposed to exempt participations in loans to non-members from the MBL cap. It also proposed to eliminate explicit loan-to-value requirements, aggregate limits on construction and development loans, as well as the requirement of a personal guarantee.
ABA this week launched its new Center for Bank Derivatives Policy, which brings together resources for banks focused on the derivatives market.
Retailers and other firms involved in the payments process should be subject to the same data security requirements as banks, ABA President and CEO Frank Keating and other trade group CEOs said in an op-ed today published in The Hill newspaper.
ABA and the Independent Community Bankers of America wrote to the House Appropriations Committee on Friday opposing the use of the congressional spending process as a back door for a credit union-backed provision to further expand their member business lending privileges.
By a bipartisan 24-8 vote, the House Judiciary Committee yesterday approved the Innovation Act (H.R. 9), which would seek to reduce abuse of the patent system.
ABA and several other trade groups yesterday urged the House Financial Services Committee to advance H.R. 2213, a bipartisan bill that would establish a “hold harmless” period after the new TILA-RESPA integrated mortgage disclosures take effect on Aug. 1.