Tag Archives: midsize banks

Judge Hears Oral Arguments in Fed Dividend Lawsuit

A federal judge yesterday heard oral arguments in the lawsuit filed by ABA and Seattle-based Washington Federal seeking over $1.1 billion in damages resulting from the United States’ improper reduction in dividends paid to Federal Reserve member banks.

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Mnuchin Underscores Tailored Regulatory Approach

Testifying before the House Financial Services Committee today, Treasury Secretary Steven Mnuchin outlined his recommendations for financial reform, including tailoring capital requirements, reducing regulatory overlap, remedying the Volcker Rule and making the Consumer Financial Protection Bureau more accountable.

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ABA: Regulations Should Be Tailored Based on Risk, Business Model

Regulations based on asset size are “inappropriate and needlessly burdensome” for many banks with non-complex business models, and ultimately lead to higher costs and fewer choices for consumers, ABA said in written testimony submitted for a Senate Banking Committee hearing on regulatory relief for midsize and regional banks today.

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ABA Recommends Changes to Large, Midsize Bank Stress Tests

As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, the American Bankers Association in a white paper today urged federal regulators to make changes to the current stress testing framework for large and midsize banks.

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Fed’s Powell: Some Post-Crisis Regs ‘Unnecessarily Burdensome’

Noting that the U.S. financial system is “without a doubt far stronger” than it was before the crisis, Federal Reserve Governor Jerome Powell said today that the collective weight of post-financial crisis rules are too complex and that some of them are burdensome and may not be needed at all -- especially in a context of sluggish productivity and GDP growth that calls for banks to “devote as much of their resources as possible to supporting economic growth.”

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