In a comment letter to the FDIC today, the American Bankers Association offered its full support for a recent proposal that would rescind Part 350 from the Code of Federal Regulations.

Following a recent meeting with FDIC Chairman Jelena McWilliams, ABA today sent a letter to the FDIC calling on the agency to address three critical issues related to its deposit recordkeeping final rule. The 2016 rule requires banks with more than 2 million deposit accounts to upgrade deposit recordkeeping systems to facilitate determination of FDIC-insured deposits should they fail. As ...

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 FDIC is set to issue a proposal that would rescind Part 350 from the Code of Federal Regulations, removing an annual disclosure requirement that was duplicated by data publicly available on the FDIC’s website.

The share of U.S. households that are unbanked continued falling in 2017, reaching 6.5 percent, according to the FDIC’s biennial survey of unbanked and underbanked households released today. Representing the lowest rate yet recorded by the FDIC survey, the drop is attributed to improvements in the socioeconomic circumstances of U.S. households. However, the survey also found that 75 percent of ...

The FDIC is pivoting to focus on innovation and simplicity in supervision, FDIC Chairman Jelena McWilliams told attendees at ABA’s Annual Convention in New York today.

In a comment letter to the Commodity Futures Trading Commission today, ABA offered support for a proposal that would exempt from clearing requirements certain swaps entered into by financial holding companies with less than $10 billion in assets. The rule would formalize relief for bank holding companies and savings and loan holding companies provided via a CFTC staff no-action letter ...

A Missouri community bank CEO represented ABA and the banking industry today at a White House event highlighting the Trump administration’s regulatory reform agenda.

In response to the Commodity Futures Trading Commission’s notice of intent to extend information collection on certain swap transactions, ABA urged the commission to amend the pertinent regulation. At issue is an annual reporting requirement for banks engaging in swap transactions that qualify for an exemption to the CFTC’s swaps clearing requirement. The duration of these swaps is typically five ...

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.