In a move that will significantly reduce the annual reporting burden on banks, the Federal Reserve today finalized a rule to automate non-merger-related adjustments to member banks’ subscriptions to reserve bank capital stock.
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Three types of aggregate fee revenues—maintenance fees, ATM fees and overdraft fees—all declined in 2020, with overdraft fees seeing the greatest decline at 26.2%, according to data released by the CFPB today. In the years between 2015 and 2019, overdraft fees were increasing modestly year-over-year—about 1.7% annually, the bureau found.
In a move that would significantly reduce the annual reporting burden on banks, the Federal Reserve today proposed to automate non-merger-related adjustments to member banks’ subscriptions to Reserve Bank capital stock.
The Financial Accounting Standards Board announced this week that in response to comments by ABA and others, it will expand the scope of a recent proposal on goodwill accounting alternatives for evaluating triggering events.
The Federal Reserve announced today that it would provide relief from the six-per-month limit on transfers or withdrawals from savings accounts under Regulation D, effective immediately.
In a letter to bank CEOs last night, the federal banking agencies restated that they would not take action against institutions that submit their March 31, 2020, Call Report after the filing deadline, provided that the report is submitted within 30 days of the original filing date.
Acknowledging the significant burdens that banks are currently facing as they provide assistance to customers during the coronavirus pandemic, the Federal Financial Institutions Examination Council last night announced a 30-day extension for institutions for the Call Report due on March 31.
ABA, joined by the Bank Policy Institute, Consumer Bankers Association and the Independent Community Bankers of America, today called on the federal banking agencies to pause any changes in certain Call Report data until the ongoing Community Reinvestment Act regulatory revamp and Dodd-Frank Act Section 1071 rulemaking are completed.
A group of 13 Republicans on the Senate Banking Committee today urged the federal banking agencies to accelerate implementation of regulatory reforms made by the S. 2155 reform law, as well as other reforms that they said would enhance economic growth.
The financial regulatory agencies today finalized changes that would expand the number of banks eligible to file a more streamlined version of the Call Report, as directed by regulatory reform law S. 2155.