ABA today called for more congressional oversight in light of recent efforts by federal and state agencies to create new bank charters or apply new interpretations to traditional charters that would allow entities to enjoy bank-like benefits while circumventing the rigorous regulatory framework that applies to traditional banks.
A dedicated function with new tools, training and skills is necessary for effective oversight.
Banks can become less reliant on third-party lead aggregators and reduce their cost of acquisition by better using what they already know.
In the new digital era, growth opportunities exist for traditional banks willing to traverse new paths
using flexible technology and innovative approaches.
Two firms—Thrivent Financial and Brex—have submitted applications in recent days to the Utah Department of Financial Institutions and the FDIC to operate industrial loan company subsidiaries.
During opening remarks at ABA’s virtual Conference of Community Bankers today, ABA President and CEO Rob Nichols shared an update on the work of the association’s Core Platforms Committee, which was formed in 2018 to help improve the working relationships between banks and their core service providers.
In response to shifting market dynamics and increasing competition in the financial services industry, the Federal Reserve is contemplating changes to its framework for antitrust analysis, Fed Governor Michelle Bowman told attendees at the American Bankers Association’s virtual Conference for Community Bankers today.
The American Bankers Association joined the Independent Community Bankers of America and the Credit Union National Association yesterday asked Acting Comptroller of the Currency Blake Paulson to withdraw an interpretive letter and the conditional approval for two recent trust charters, in accordance with a Jan. 20 White House memo calling for a regulatory freeze.
Small businesses’ satisfaction with merchant services providers took a hit during the COVID-19 pandemic, according to the J.D. Power 2021 Merchant Satisfaction Study released today.