Browsing: Congress

Commercial Lending

The American Bankers Association and a coalition of trade groups today urged congressional leaders to pass H.R. 4616, the Adjustable Interest Rate (Libor) Act. The legislation addresses “tough legacy” contracts that currently reference Libor, which will cease to be published by June 2023.

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The American Bankers Association joined a broad coalition of industry trade groups in a letter to Senate leadership, members of the Banking, Housing and Urban Affairs Committee, and the Armed Services Committee, urging them to include the Secure and Fair Enforcement Banking Act in the upcoming National Defense Authorization Act.

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In a joint letter with the Independent Community Bankers of America and the National Community Reinvestment Coalition today, the American Bankers Association urged lawmakers to schedule an oversight hearing for the National Credit Union Administration, in light of several recent NCUA rulemakings that the groups said “would undermine important statutory guardrails designed to protect low-income consumers.”

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A group of 24 Democratic and Republican governors yesterday called on Congress to include the SAFE Banking Act—an American Bankers Association-backed bill that provides clarity to financial institutions seeking to serve legitimate cannabis businesses—as an amendment to the National Defense Authorization Act, noting that the bill has “more bipartisan support than ever before.”

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