A 2024 ABA survey shows that the CFPB’s 1071 final rule will significantly increase the cost of small business credit.
Browsing: Regulatory burden
In keynote remarks during ABA’s Wealth Management and Trust Conference in New Orleans, ABA President and CEO Rob Nichols highlighted the association’s efforts to push back against a “tsunami” of regulations facing the banking industry as well as its ongoing advocacy for a number of key initiatives.
As part of a national strategy to promote financial inclusion, policymakers should require banking agencies to consider the effects of any regulatory proposal on low-to-moderate-income and underserved consumers’ access to financial products and services, ABA and two associations said.
ABA Banking Journal’s annual analyses target important issues across multiple topics.
One of the “greatest threats” to the community banking business model is the “cumulative impact” of new regulations and “changed expectations in supervision,” Federal Reserve Governor Michelle Bowman said.
Amid what he called a “tsunami of new regulations,” ABA President and CEO Rob Nichols kicked off the Conference for Community Bankers in San Antonio, Texas, with a discussion of how ABA is pushing back on regulatory overreach.
How agencies use guidance to flout congressional safeguards on rulemaking.
The Federal Reserve, FDIC and OCC published the first in a series of requests for public comment on reducing the regulatory burden for financial institutions.
Minutes of the most recent meeting of the Federal Reserve’s Community Depository Institutions Advisory Council show that council members were disappointed with the final rule to modernize how banking agencies assess compliance with the Community Reinvestment Act, finding the rule overly prescriptive and not offering community banks a clear path to meet its expectations.