Two recent policy developments could fundamentally alter banks’ Community Reinvestment Act programs, and policymakers should avoid finalizing proposed changes to the CRA rules until these issues are resolved, ABA and the Bank Policy Institute said in a letter to regulators.
Browsing: ABA news
Raphael Bostic, president of the Federal Reserve Bank of Atlanta, will join ABA Chief Policy Officer Naomi Camper during the ABA Annual Convention, Oct. 8-10 in Nashville, for a conversation on the outlook for the U.S. economy and interest rates, state of the banking industry, opportunities to enhance financial inclusion and more.
Bipartisan legislation to create a neighborhood homes tax credit would address the needs of families throughout the country who are struggling to purchase homes as costs continue to rise and the supply of homes remains limited, ABA said in comments to committee leaders in the House and Senate.
ABA signed a coalition letter urging Congress to make the New Markets Tax Credit program permanent, and it is encouraging banks to do the same by signing the letter by the end of the month.
ABA offered feedback on the Federal Housing Finance Agency’s recent request for comment on Fannie Mae’s and Freddie Mac’s single-family pricing framework, with the association recommending regular agency reviews and transparency surrounding the guarantee fees that are a key revenue source for both government-sponsored enterprises.
ABA members have until Sept. 20 to submit comments to the Financial Standards Accounting Board on proposed changes to its accounting standards for purchased financial assets, as opposed to the 60-day comment period FASB originally proposed
Federal Reserve Vice Chairman for Supervision Michael Barr will share his outlook for bank regulation and discuss other key policy issues with ABA President and CEO Rob Nichols during the ABA Annual Convention, Oct. 8-10 in Nashville.
In the aftermath of the unprecedented wildfires in Hawaii, ABA will donate $25,000 to the Hawaii Community Foundation’s Maui Strong Fund to assist with immediate disaster response and recovery.
ABA and eight financial trade associations expressed support for the Federal Communications Commission’s latest series of proposals to stop bad actors from placing outbound calls that impersonate banks and other businesses.
ABA and 12 organizations this week said they support a proposed CFPB rule applying ability-to-repay requirements to residential property-assessed clean energy, or PACE, loans, saying the changes are needed to limit abuses that have occurred in states with active residential PACE programs.