ABA’s Carney: TruPS Issue Comes Back to Haunt Community Banks
Despite regulators' action -- and ABA's lawsuit -- after the Volcker Rule to protect existing bank investments in trust preferred...
Tax and Accounting
Banks Join DOJ’s Swiss Bank Program
The Justice Department announced last week that four banks — Société Générale Private Banking (Lugano-Svizzera), MediBank AG, LBBW (Schweiz) AG,...
Internal Audit, COSO Peer Groups Formed
Since the Sarbanes-Oxley Act of 2002, banks have placed increased focus on internal audit. In response to member requests, ABA...
ABA, Trade Groups Oppose ‘Onerous’ Tax Reporting Proposal
ABA and several financial trade groups wrote to Congress yesterday opposing a revenue-raising provision in H.R. 1295, a trade preferences...
HSA Council: ‘Regulatory Uncertainty’ from Excise Tax Hits HSA Plans
Regulatory uncertainty about how the Affordable Care Act’s excise tax on so-called Cadillac health plans will affect health savings accounts...
ABA: Ensure Basel Accounting Guidance Matches U.S. Standards
Responding to draft Basel Committee guidance on bank examination procedures for accounting for expected credit losses, ABA cautioned the committee...
ABA, Business Groups Support Deferred Taxes on Retirement Savings
As the Senate Finance Committee solicits feedback on comprehensive tax reform, ABA and several other business trade groups yesterday urged...
Fed Declines Basel III Fix for Sub S Banks
Federal Reserve Chairman Janet Yellen yesterday responded to a letter several House members sent last fall urging regulators to resolve...
FASB to Defer Effective Date of Revenue Recognition Standard
The Financial Accounting Standards Board has approved an exposure draft that would defer the effective date of its new revenue...
