By a bipartisan 34-22 margin, the House Financial Services Committee today advanced the ABA-advocated TAILOR Act.
In a letter to the House Financial Services Committee today, ABA urged members of Congress to vote in favor of the TAILOR Act, which would direct financial regulators to tailor regulatory actions based on the sizes, business models, risk profiles and other differentiating characteristics of the institutions they supervise.
In a joint letter yesterday, ABA and several farming industry groups called on congressional budget committees to protect crop insurance as they develop budget proposals for fiscal year 2017, urging them not to reopen the 2014 Farm Bill in their efforts to reduce the national deficit.
Arbitration, mortgages, small business lending and small-dollar loans are among the Consumer Financial Protection Bureau’s policy priorities over the next two years, according to a document released today.
As credit union officials hit Capitol Hill this week for an annual lobbying event, ABA today sent a letter to members of Congress that provides background information on several recent actions that would expand the scope and scale of credit unions and relevant questions for them to ask the visiting CU officials and lobbyists.
The federal banking agencies’ proposal for the eight U.S. global systemically important banks to increase their total loss absorbing capacity, or TLAC, would create a $363 billion shortfall in eligible TLAC and long-term debt — plus $622 trillion in unrelated liabilities — by Jan. 1, 2019, a massive gap that would “be very expensive and perhaps impossible to cure…promptly,” according to ABA and several other trade groups in a comment letter Friday.
The National Credit Union Administration is primed to answer “yes” to credit union industry requests, according to agency chairman Debbie Matz, who was speaking at a credit union lobbying event today.
Rep. Will Hurd, a freshman Republican representing southwest Texas, will be the keynote speaker at ABA’s Emerging Leaders Forum, to be held on March 14 in Washington, D.C., in conjunction with ABA’s Government Relations Summit.
The National Credit Union Administration board today voted to finalize significantly looser limits on business lending by credit unions. Among other things, the final rule exempts participations in loans to non-members from the statutory 12.25 percent member business lending cap.
The Federal Reserve today issued an interim final rule modifying Regulation I — which governs the capital stock issued by the regional Federal Reserve Banks — to conform to the dividend cuts passed by Congress in December’s highway spending bill.