In her testimony before the House Financial Services Committee today, Federal Reserve Chairman Janet Yellen pointed to evidence that the U.S. financial system has “strengthened considerably.”
The House Financial Services Committee yesterday approved by a voice vote a bipartisan bill that would allow thrifts chartered under the Home Owners’ Loan Act to elect to receive the lending powers — and compliance responsibilities — of national banks without changing their HOLA charters.
Incoming ABA CEO Rob Nichols discussed his plans to fight for regulatory relief, unite banks of all sizes and engage millennials in a recent interview with The Hill.
The Basel, Switzerland-based Financial Stability Board today updated its list of global systemically important banks subject to supplemental loss absorbency requirements.
Iowa Gov. Terry Branstad yesterday announced the appointment of banker Ron Hansen as superintendent of the Iowa Division of Banking. Hansen, the chairman and CEO of Liberty Bancorporation in Durant, Iowa, will take office on Nov. 16.
The House Financial Services Committee is expected to vote this week on several bipartisan bills that are part of ABA’s Agenda for America’s Hometown Banks. H.R. 1309, introduced by Rep. Blaine Luetkemeyer (R-Mo.) with 112 bipartisan co-sponsors, would eliminate the automatic designation of banks as systemically important based solely on asset size, recognizing that regulators should consider many different components of risk.
The Federal Reserve on Friday proposed a new set of requirements for the eight U.S. global systemically important banks to increase their total loss absorbing capacity, or TLAC, by at least 60 percent.
Also on Capitol Hill this week, the House is expected to vote on a long-term transportation funding package. News reports have indicated that a revenue-raising provision significantly reducing the dividends paid to Federal Reserve member banks — a measure ABA strongly opposes — may be included. The Senate has already passed a transportation bill with a similar funding mechanism.
Bankers ask lawmakers to step into their shoes and witness regulatory burden first-hand.