The global financial system is resilient, with large banks much better capitalized, less leveraged and more liquid, according to the Financial Stability Board’s report on post-crisis reforms issued today.
The credit union industry has strayed from its original tax-exempt purpose and its tax exemption can no longer be justified, according to an economist at the nonpartisan Tax Foundation, a respected research group in Washington, D.C.
Banks and credit unions should receive the same treatment when operating on military bases, American Bankers Association President and CEO Rob Nichols wrote in an joint op-ed with the heads of the Associations of Military Banks of America and the Independent Community Bankers of America.
As the Financial Accounting Standards Board prepares to vote this week on a delay of the CECL accounting standard for certain companies, the Center for Responsible Lending on Friday warned that the standard could seriously affect credit availability to low- and moderate-income borrowers.
The federal banking regulators’ standardized approach for counterparty credit risk proposal, or SA-CCR, could have unintended consequences for commercial end users—such as corn producers or beverage manufacturers—who rely heavily on financial derivatives.
“Our customers are our most valuable asset,” says Dan Robb, president and CEO of Jonesburg State Bank. “When we see them having trouble getting credit because of regulations that have been put into place, we have to voice that to Congress.”
California Gov. Gavin Newsom yesterday signed A.B. 857, a bill that provides a pathway for local government entities in the state to charter public banks.
The Consumer Financial Protection Bureau today announced the appointment of new members to its Community Bank Advisory Council.
The FDIC is updating examiner instructions to help strengthen minority depository institutions, FDIC Chairman Jelena McWilliams said today in Washington.