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ABA Opposes Delaware’s Proposed Changes to Trust Company Applications
The American Bankers Association today wrote to Delaware State Bank Commissioner Robert Glen urging him to withdraw a proposal that would prevent new trust company applications from being approved unless they are affiliated with a national bank, an FDIC-insured depository institution or a bank holding company.
Opportunities for Growing Today’s Bank-Insurance Business
Three insurance products where banks are finding success with customers—and the bottom line.
ABA Provides Feedback to ERISA Advisory Council on Improving Financial Statement Audit Process
The American Bankers Association today provided feedback to the ERISA Advisory Council (which reports to the Department of Labor) on the role of plan administrators and sponsors with respect to plan audits—including those performed under a limited scope audit engagement in which a bank custodian certifies the completeness and accuracy of investment information of plan assets held by the bank.
SEC Approves ‘Best Interest’ Regulation for Broker-Dealers
The Securities and Exchange Commission today finalized a rule implementing a “best interest” standard of conduct for broker-dealers when making recommendations on securities transactions or investment strategies to retail customers.
Fed Survey: Unbanked Share of Americans at 6%
Sixty-one percent (up 11 points from 2013) said they could cover a $400 emergency expense in cash, a benchmark often cited by policymakers.
OCC Considers Rule Changes on Fiduciary Capacity, Non-Fiduciary Custody Activities
The OCC is issuing an advance notice of proposed rulemaking regarding the scope of activities that are fiduciary in nature, as well as the requirements of non-fiduciary custody activities of national banks, federal thrifts and federal branches of foreign banks.
Podcast: M&A Tips from a Fast-Growing Bank
On the latest episode of the ABA Banking Journal Podcast, United Bankshares President Rick Adams talks about United Bank’s experience with M&A and offers tips on providing quick and candid communication in the merger process.
How to Help Customers Save Up for Their Well-Being
Like it or not, medical banking is here and growing where other features of banking are simply stagnant.
Who Owns Model Risk in an AI World?
Regulatory guidance wants models that can be challenged. But when artificial intelligence turns a model into a black box, how can bankers manage model risk?