ABA today welcomed the passage of the bipartisan Cybersecurity Information Sharing Act by a 74-21 vote in the Senate.
Following advocacy by ABA, four House members on Friday introduced bipartisan legislation to stop the Federal Housing Finance Agency from moving ahead with its proposed limitations on Federal Home Loan Bank membership.
Incoming ABA President and CEO Rob Nichols released a one-minute Voicebyte today on the latest with ABA’s Pass Reg Relief Now campaign, which will continue through the fall.
The Senate is scheduled to vote this week on the Cybersecurity Information Sharing Act (S.754), an ABA-supported bill that would strengthen the ability of the public and private sectors to share critical cyber threat information without compromising customer privacy.
The FDIC today proposed a change in deposit insurance assessments that implements a Dodd-Frank Act provision requiring banks with over $10 billion in assets to be responsible for recapitalizing the FDIC insurance fund to 1.35 percent of insured deposits after it reaches a 1.15 percent reserve ratio.
ABA and a handful of national trade groups representing financial institutions and businesses last night urged congressional leaders to raise the federal debt limit, warning that a failure to do so would undermine international confidence in the creditworthiness of the United States.
Comptroller of the Currency Tom Curry in a speech today expressed concern about growing credit risk in auto loans, noting relaxed underwriting standards and the fact that 30 percent of new vehicle loans now have maturities of more than six years. “What is happening in this space today reminds me of what happened in mortgage-backed
One hundred and fifty members of the House sent a bipartisan letter to the chamber’s leaders today urging them to withhold consideration of any proposal to reduce dividend payments on Federal Reserve stock until the Government Accountability Office has completed a study on the plan’s long-term implications. The letter comes as the House prepares to
More research is needed on payday borrower habits before any regulation curbing payday lending is adopted, say researchers at the Federal Reserve Bank of New York. The authors examined criticisms of payday lending that are used to justify reform and said that most did not hold up to scrutiny. Research is split, for instance, on
Federal Reserve Governor Lael Brainard at an EGRPRA outreach meeting today listed several areas that she believes “hold the greatest promise to reduce undue regulatory burden.” Many areas mentioned correspond to items on ABA’s Agenda for America’s Hometown Banks. For example, Brainard noted that the Fed is exploring options for allowing smaller banks to achieve