Testifying before the House Financial Services Committee today, Federal Reserve Vice Chairman for Supervision Randal Quarles noted that “the banking sector remains in strong condition… with lending growth, fewer nonperforming loans and strong overall profitability.”

The financial regulatory agencies today proposed changes that would expand the number of banks eligible to file a more streamlined version of the Call Report, as directed by S. 2155, the new regulatory reform law.

After regulators in September issued a joint statement clarifying that regulatory guidance does not have the force and effect of law, the American Bankers Association and the Bank Policy Institute yesterday submitted a rare petition to each agency calling on them to institutionalize the statement by codifying it in a formal rulemaking.

The Federal Reserve today issued its highly anticipated proposed framework for applying enhanced prudential standards to banking firms with $100 billion or more in assets, as required by S. 2155, the regulatory reform law.

Reflecting on a year that saw many positive legislative and regulatory changes for the banking industry, outgoing ABA Chairman Ken Burgess urged bankers to remain engaged in advocacy as these changes are implemented.

In his remarks this morning at the American Bankers Association Annual Convention today, ABA President and CEO Rob Nichols issued a challenge to the industry’s leading core providers, calling on them “to empower banks with the modern, innovative tools they need to compete effectively in today’s marketplace.”

The Consumer Financial Protection Bureau yesterday updated its rulemaking agenda for the remainder of 2018.

In response to the FDIC’s recently announced initiative to streamline its Financial Institution Letters and other communications, the American Bankers Association in a comment letter on Wednesday urged the FDIC to withdraw its supervisory expectations with respect to bank overdraft payment programs and to rescind its 2013 guidance on deposit advance programs.

Financial regulators will issue by year-end their proposal exempting highly capitalized community banks from the Basel III capital calculations, as directed by S. 2155, FDIC Chairman Jelena McWilliams told members of the Senate Banking Committee today.

The American Bankers Association yesterday wrote to the Federal Reserve, FDIC and OCC in support of an interim final rule the agencies issued recently implementing an ABA-advocated provision of S. 2155 that expands the pool of what counts as high-quality liquid assets under the Liquidity Coverage Ratio.