Basel Committee issues standard for banks’ cryptoasset exposure
BCBS says the standard provides a “robust and prudent global regulatory framework” for internationally active banks’ cryptoasset exposures.
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ABA submits suggestions for international crypto regulation framework
Thee American Bankers Association said it supported the recommendations in two recent reports on establishing a proposed framework for the international regulation of cryptoasset activities, but the association also had some recommendations for what should be included in the final framework.
NYDFS to require prior notification for banks engaging in crypto activities
The New York Department of Financial Services today issued guidance—effective today—for New York-regulated banks reminding them of their obligations to seek prior approval before engaging in activities related to virtual currencies, including when engaging with a third-party to perform such activities.
Warren, Marshall introduce cryptocurrency AML bill
Sens. Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) today introduced legislation to extend anti-money laundering and countering of the financing of terrorism requirements to cryptocurrency and digital assets.
ABA, trade groups urge further scrutiny of big tech payment platforms
The Consumer Financial Protection Bureau should continue to increase its oversight of “big tech” payment platforms until all consumers are protected at a consistent level, no matter the legal structure of the entity, the American Bankers Association said today in a joint letter.
Nichols: FTX crash shows need for consistent regulatory treatment across finance
The collapse of cryptocurrency exchange FTX and other recent turmoil in crypto markets demonstrate the need for players in the crypto industry to be regulated like banks, ABA President and CEO Rob Nichols and Better Markets CEO Dennis Kelleher said in a new op-ed for CNBC.
Reimagining the banking experience with enhanced connectivity
The networking infrastructure found in many banks is not built to handle remote workforces, multiple video meetings or online banking.
ABA: Exclude ATMs, bank devices from accessibility rulemaking
The American Bankers Association on Tuesday asked the federal agency responsible for developing technical accessibility standards to exclude ATMs and other bank devices from proposed rulemaking for self-service transaction machines, or SSTMs.
Survey: Younger investors drawn to wealth management apps
Mobile apps and websites have become the first resources that investors consult to review their investments, make transactions and conduct research, with apps particularly popular among younger generations, according to a new survey by J.D. Power.
ABA urges FTC to consider positive aspects of consumer data collection
As the Federal Trade Commission explores a rulemaking to govern the collection of personal data for commercial purposes, it should consider the current landscape of federal and state laws on data security and avoid pursuing regulations that discourage innovation that has benefitted consumers in financial services, the American Bankers Association said Monday in comments filed with the agency.