Today marks the start of Take Your Lawmaker to Work Week, when bankers host members of Congress in their banks. To date, more than 100 bankers have registered to host visits and nearly 200 members of Congress have been invited to a local bank.
Arguing that the proposal runs against congressional intent and sound public policy, ABA today called on Congress to pass legislation requiring the Federal Housing Finance Agency to withdraw its proposal on Federal Home Loan Bank membership.
The Durbin Amendment’s cap on debit card interchange fees is distorting the retail marketplace and harming consumers, ABA President and CEO Frank Keating said in an American Banker op-ed today responding to claims by retailers that the Federal Reserve set the fee cap too high.
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.