The Senate today approved a $99 million subsidy to fund the Small Business Association’s 7(a) loan program for the 2020 fiscal year, successfully avoiding a shutdown of the program that would have otherwise taken place on Oct. 1.
In an interview with Bloomberg TV today, ABA President and CEO Rob Nichols commended House lawmakers for passing the bipartisan SAFE Banking Act—a bill that would enable banks to serve customers in states that have legalized cannabis—earlier this week and expressed optimism for the bill’s prospects in the Senate.
In a press conference at the U.S. Capitol today, American Bankers Association President and CEO Rob Nichols joined Reps. Ed Perlmutter (D-Colo.), Steve Stivers (R-Ohio) and Earl Blumenauer (D-Ore.) in congratulating members of the House for last night’s passage of the SAFE Banking Act,
The American Bankers Association joined a group of financial trade associations in a letter to Senate Banking Committee leaders endorsing the Illicit Cash Act, a bipartisan bill introduced today that would create a secure beneficial ownership registry of legal entities, to be overseen by the Financial Crimes Enforcement Network and the Treasury Department.
By a bipartisan vote of 321 to 103 tonight, the House passed the SAFE Banking Act, the ABA-supported bill that would provide clarity to financial institutions seeking to serve legitimate cannabis businesses.
As the Federal Reserve develops its own faster payments system, it must focus on ensuring interoperability between the existing RTP Network, rthe American Bankers Association said in a statement for the record submitted ahead of a Senate Banking Committee hearing today.
The Financial Crimes Enforcement Network is seeing “a high amount of fraud” enabled through synthetic identities and account takeovers via nonbank fintech platforms, FinCEN Director Kenneth Blanco said today at an identity protection event in Tampa, Fla.
ABA today filed a comment letter urging the Securities and Exchange Commission to modernize its regulations on Rule 144A securities in order to maintain a level playing field between bank-maintained collective investment funds and mutual funds.
With a vote expected on H.R. 1595, the SAFE Banking Act, as early as tomorrow, ABA today wrote to House leaders offering support for the bipartisan bill, which would provide clarity about serving legitimate cannabis businesses.
Structural issues in the repo market led to last week’s market turbulence.