Sen. Daines defends reg reform law in remarks to ABA Summit
Speaking virtually to the ABA Washington Summit today, Sen. Steve Daines (R-Mont.) defended S. 2155, the bipartisan regulatory reform law.
Browsing: Regulatory burden
ABA, associations urge CFPB to extend comment period for credit card fee changes
The American Bankers Association and six banking and credit union associations this week requested that the CFPB extend by at least 60 days the comment period for a proposed rulemaking on credit card penalty fees.
ABA urges agencies to rethink proposed climate disclosure rule
A proposed rule to require certain federal contractors to disclose and reduce their greenhouse gas emissions could place impractical requirements on banks and other businesses, ABA said this week.
Nichols: ABA won’t ‘sit idly by’ if regulators overstep their authority
While ABA is engaging with banking regulators in constructive ways, it is also pushing back against a range of rulemakings and regulatory changes that will do more harm than good if enacted, and it is willing to go to court to fight those proposals, ABA President and CEO Rob Nichols said this week at the Conference for Community Bankers in Orlando.
Bowman: Fed not interested in dictating business strategy for banks
The Federal Reserve’s role as a banking supervisor is not to replace a bank’s management and board of directors in adopting banking strategy and risk appetite, Fed Governor Michelle Bowman said this week.
FirstBank’s Reuter sees role for Congress in boosting bank industry
Banks are a source of strength for the U.S. economy, but Congress could do more to support the industry through legislation, Jim Reuter, CEO of FirstBank of Colorado, said this week in testimony before the House Financial Institutions and Monetary Policy Subcommittee.
CFPB proposes to overturn longstanding credit card late fee safe harbor
The Consumer Financial Protection Bureau this week announced it would seek to curb what it called “excessive credit card late fees” through new rulemaking.
Proposed rule would require verification system for Treasury checks
The U.S. Treasury Department this week proposed a new requirement that financial institutions use the Treasury Check Verification System, or a similar authorized system, to verify that Treasury checks are both authentic and valid.
Corporate climate disclosure bill reintroduced in California Legislature
Legislation that would require corporations to report their greenhouse gas emissions has been reintroduced in the California State Senate, with the proposed law modeled after an ABA-opposed bill that was narrowly defeated by state lawmakers last year.
ABA, trade groups: CFPB must seek small bank input on credit card fee rule
The Consumer Financial Protection Bureau is required by law to seek input from community banks and credit unions before moving forward with rulemaking on credit card penalty fees, ABA and four industry associations reiterated this week.