Rep. Randy Neugebauer (R-Texas) announced yesterday that he will not seek reelection in 2016, retiring after seven terms in the House.
The Conference of State Bank Supervisors yesterday finalized its new framework for model state-level regulation of virtual currencies such as bitcoin.
ABA wrote to Sen. Heidi Heitkamp (D-N.D.) yesterday thanking her for introducing S. 1974, the Relationship Lending Preservation Act. The bill would provide the same regulatory treatment to mortgages sold to the Federal Home Loan Banks that Qualified Mortgages and GSE loans currently enjoy.
The inspector general for the Consumer Financial Protection Bureau issued a report today spotlighting inaccuracies and process weaknesses in the CFPB’s consumer complaint database.
The Basel Committee on Banking Supervision’s proposed interest rate risk capital requirement is fundamentally flawed and could ultimately increase interest rate risk, ABA and another trade group said in a comment letter on Friday.
In an interview published in Washington Examiner on Saturday, incoming ABA President and CEO Rob Nichols emphasized regulatory relief as the top legislative priority for the fall at ABA.
While expressing support for the purpose of FDIC’s proposal to revise premium assessments for banks with under $10 billion in assets, ABA in a comment letter Friday also recommended several changes.
With a provision that would reduce the dividends paid on Federal Reserve Bank stock to Fed member banks still being floated as a revenue-raising measure on Capitol Hill, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) today asked the Government Accountability Office to study the Fed stock ownership structure and report back to Congress.
With Congress back in session today, ABA, joined by ICBA and two credit union trade groups, wrote to the leaders of the Senate Banking Committee to keep up the pressure on enacting regulatory relief this fall.
ABA advocacy helped generate more than 500 banker comment letters to the National Credit Union Administration on its business lending proposal, secure a delay in the implementation of the TILA-RESPA mortgage disclosures, and place several member bankers on the Fed’s new payments task forces. These and other ABA advocacy initiatives, part of ABA’s Agenda for