Browsing: Policy

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In a letter last week, ABA and five financial industry trade groups asked the Interagency Community Investment Committee to extend the comment period for a review of the effectiveness of federal community investment programs by at least 45 days.

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The American Bankers Association and three financial industry trade groups on Monday called for the Cybersecurity and Infrastructure Security Agency to prioritize cyber incident reporting requirements that are accessible, functional and simple and to carefully weigh the type and volume of data collected so that it remains useful to prevent systemic vulnerabilities and combat bad actors.

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The American Banker Association recently led a group of trade groups in expressing support for the Federal Communication Commission’s proposal to require mobile wireless providers to block text messages that are that are from invalid, unallocated or unused numbers, or those on a Do-Not-Originate list.

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The Small Business Administration is proposing to lift the moratorium on the number of nondepository institutions—called small business lending companies—that may make loans under SBA’s Section 7(a) program, and to create a new type of SBLC called mission-based SBLCs

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The Federal Reserve will seek public comment on a proposal to publish a periodic list of depository institutions that have access to Fed accounts—often referred to as “master accounts”—and payment services, the agency announced today.

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The illicit finance risks posed by digital assets can be most effectively managed by regulating nonbank cryptocurrency companies while allowing banks to engage more fully in digital asset activities, where they will be subject to comprehensive regulation and Bank Secrecy Act requirements, ABA said today in a letter to the U.S. Treasury Department.

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