A pilot program by the U.S. Postal Service to offer check cashing services is inconsistent with congressional intent and inappropriately stretches the definition of “postal services,” ABA said in a letter to the Postal Regulatory Commission today.
While underscoring their full support for consumer data privacy and security, they noted that their members have been subject to “extensive federal privacy and data protection laws” for several decades, and pointed out several provisions of the legislation should be reconsidered.
Groups appreciate Sen. Rubio’s PPP support, ensuring Florida families and businesses had the relief they needed during the pandemic.
Lawmakers must “determine the structure of [Fannie Mae and Freddie Mac] and the secondary mortgage market for the post-conservatorship world,” the Federal Housing Finance Agency emphasized today in its annual report to Congress.
Ahead of a markup scheduled to begin tomorrow in the House Financial Services Committee, ABA sent a memo to lawmakers expressing opposition for H.R. 4277, the Overdraft Protection Act. Sponsored by Rep. Carolyn Maloney (D-N.Y.), the bill would amend the Truth in Lending Act to make changes to existing overdraft rules.
ABA joined the California Bankers Association and the Pennsylvania Bankers Association today in releasing voter education ads recognizing two lawmakers for their work to support communities and avoid government overreach.
Sens. Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) today introduced the Responsible Financial Innovation Act—a bill that would create a regulatory framework for digital assets.
Rep. McHenry (R-N.C.), ranking House Financial Services Committee member, said a well-regulated space is necessary for the digital asset/cryptocurrency ecosystem.
House Republican lawmakers this week slammed recent changes made by the CFPB to its supervision examination manual for unfair or deceptive acts and practices and its rules of practice and procedure regarding administrative adjudication procedures, noting that these actions “deviate significantly from past practices” and were taken outside of the notice and comment process.
As lawmakers attempt to reconcile the House and Senate versions of the America Competes Act, a bipartisan group of 24 senators led by Sens. Jeff Merkley (D-Ore.) and Jacky Rosen (D-Nev.) this week advocated for the SAFE Banking Act to be included in the final version of the bill.