Browsing: ABA news

Policy ABA: Proposed call report requirement would be costly for banks, agencies

An interagency proposal to change what financial institutions must report on call reports is flawed in that it would add a new requirement to include modifications for borrowers experiencing financial difficulty, or FDMs, but in a manner that doesn’t align with generally accepted accounting principles and as a result, the banking agencies will lose out on the benefits of the GAAP-based metric, ABA said.

Newsbytes ABA, associations urge CFPB to move cautiously in credit reporting rulemaking

A CFPB proposal to overhaul how it regulates consumer credit reporting should first be put forward as an advanced notice of proposed rulemaking or else it risks “a rushed, inadequate rulemaking process raises the stakes for dramatic changes to the foundation of the American economy,” ABA, the U.S. Chamber of Commerce and 10 financial industry associations said.

Newsbytes ABA welcomes congressional review of proposed capital standards

ABA strongly supports efforts by the House Financial Services Subcommittee on Financial Institutions and Monetary Policy to investigate “the chaotic state of global financial standards,” such as the proposed U.S. adoption of the Basel III “endgame” capital standards, the association said.

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