ABA said it supports a proposed House joint resolution expressing congressional disapproval of a SEC policy on safeguarding cryptoassets.
ABA and 52 state bankers associations urged lawmakers in the House and Senate to hold a hearing to determine whether the credit union industry’s tax exemption is justified by the community benefit it produces.
Sen. Mitch McConnell (R-Ky.) announced that he will step down as the Senate Republican leader in November.
ABA released new ads encouraging Sen. Jon Tester (D-Mont.) and Reps. Tony Gonzales (R-Texas) and Young Kim (R-Calif.) to keep pushing back on overreaching government mandates.
A proposed bill in the House would require the Federal Reserve to act on merger applications within 90 days of receiving the requests.
The Federal Reserve discount window is an essential component of liquidity risk management, but several reforms must be made to meet the needs of banks of all sizes, ABA said.
While FinCEN’s final rule on access to beneficial ownership information addressed many concerns raised by banks with the original proposal, the agency should take additional actions to improve the implementation of the Corporate Transparency Act, ABA said.
The House Financial Services Committee will hold an oversight hearing Wednesday on the Financial Crimes Enforcement Network and Office of Terrorism and Financial Intelligence.
ABA urged Congress to pass legislation to ban the practice of credit reporting firms selling consumer contact information to lenders who then barrage those same consumers with unwanted solicitations.
A proposed credit card routing mandate bill would result in the transfer of billions of dollars from consumers to the nation’s largest retailers, with small businesses seeing little to no benefit, according to new research.