Browsing: ABA news

Newsbytes Nichols: Deposit insurance changes must not create competitive disadvantages

In a keynote address to bankers this morning at the 2023 ABA Washington Summit, ABA President and CEO Rob Nichols addressed the recent failures of Silicon Valley Bank and Signature Bank, urging the industry to remain calm and united in the face of what he called an “idiosyncratic liquidity disruption” at these institutions.

Newsbytes Nichols: Credit card rewards benefit all customers

A guest column in the New York Times claiming credit card points are being paid for by the poor is not supported by the evidence, American Bankers Association President and CEO Rob Nichols said in a recent letter to the editor appearing in the newspaper.

Newsbytes ABA seeks level playing field in digital asset regulation

Lawmakers and regulators should adhere to the principle of “same activity, same risk, same regulation” when developing a framework for digital asset regulation, seeking to apply existing financial system safeguards to the digital asset ecosystem and filling in gaps with new legislation, ABA said this week.

Newsbytes ABA responds to IRS guidance on stock buyback excise tax

Responding to initial IRS guidance on the provision for stock buyback excise taxes within last year’s Inflation Reduction Act, ABA last week recommended that one-year carryforward and carryback periods should be granted for net preferred stock issuances.

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