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.
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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.
A group of 29 Republican lawmakers wrote to Federal Reserve Vice Chairman for Supervision Randal Quarles today calling on the Fed to act swiftly to de-designate banks with $250 billion or less in assets as systemically important financial institutions.
The FDIC today issued a request for comment on a proposed rule to implement Section 202 of S. 2155, the new regulatory reform law.
The Consumer Financial Protection Bureau issued an interim final rule making changes to two model disclosure forms — summary of consumer rights and summary of identity theft rights — to reflect changes made to the Fair Credit Reporting Act by S. 2155, the new regulatory reform law.