Browsing: ABA news

Newsbytes

The American Bankers Association today announced the recipients of its ABA Under 40 in Wealth Management Awards. The awards recognize wealth management and fiduciary professionals who are committed to the highest standards of achievement at work and in their communities.

Mortgage

If regulators want to expand the number of consumers who can take advantage of mortgage refinances, then focusing on expanding consumer education and providing banks more flexibility in their offerings would be a better approach than pushing new products such as “auto-refi” loans, the American Bankers Association and Consumer Bankers Association said today in a joint letter to the Consumer Financial Protection Bureau.

Newsbytes

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.

Newsbytes

Responding to a misleading statement about credit card and overdraft fees from President Joe Biden’s official Twitter account, the American Bankers Association today noted that the CFPB sets the allowable amount for credit card late fees, and like fees for overdraft protection, they are highly regulated and fully disclosed to consumers by law.

Newsbytes

With Republicans set to take control of the House in 2023 and Democrats retaining control of the Senate, ABA is congratulating both parties while reminding lawmakers that a divided government doesn’t need to lead to partisan gridlock.

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