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This ABA Banking Journal newsletter is a free, twice-monthly supplement to the ABA Banking Journal magazine intended to help you stay on top of industry and policy news.
You can also stay abreast of banking news by visiting aba.com/BankingJournal, home to ABA Daily Newsbytes and other email bulletins.
U.S. banks earned $40.4 billion in profits for the third quarter, a 5.1 percent increase from a year earlier thanks largely to lower non-interest expenses, the Federal Deposit Insurance Corp. said Tuesday. (Bloomberg)
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If the card thrives, it could potentially solve one of bitcoin’s biggest problems. As it stands, relatively few consumers have adopted bitcoin because few merchants accept it. And few merchants accept it because relatively few consumers have adopted it. (WIRED)
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The economics of farming in the Midwest and South are getting worse, according to the St. Louis Federal Reserve Bank's latest survey of agricultural bankers in all of Arkansas and parts of Missouri, Illinois, Indiana, Kentucky, Tennessee and Mississippi. (St. Louis Post-Dispatch)
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U.S. banks are scouring their transactions for potential ties to suspects in the recent Paris attacks, and government authorities delayed scheduled computer maintenance so they could check a key suspicious-transaction reporting database used by financial institutions. (Reuters)
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Millennial buyers account for almost 30 percent of nationwide home sales, according to the latest surveys by the National Association of Realtors. (The Dallas Morning News)
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Many homeowners don’t realize they have home equity to tap, while banks have pulled back on loan amounts and other types of loans have become cheaper. (Wall Street Journal)
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ABA is calling for increased scrutiny of tech companies that are increasingly encroaching on banks' turf, but Georgia banker Dan Blanton says banks also need to be thinking about ways to team up with these new players in payments and lending—or figuring out how to beat them at their own game. (American Banker)
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The Consumer Financial Protection Bureau's consumer complaint database is riddled with errors and distrusted by some of its own employees, according to internal documents and interviews with current and former agency officials. (American Banker)
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ABA in a joint letter today urged Congress to remove Section 407 from the Cybersecurity Information Sharing Act as the House and Senate prepare to reconcile competing versions of the bill. (ABA Banking Journal)
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The Federal Reserve, setting aside its habitual reticence, is issuing increasingly explicit warnings that it is likely to start raising its benchmark interest rate in December. (The New York Times)
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Federal Reserve officials are wrestling with a nettlesome question raised by their vast post-crisis regulatory powers. (Wall Street Journal)
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The National Credit Union Administration voted today to expand the already loose fields of membership from which federal credit unions can draw their customers, further erasing the distinctions between credit unions and banks. (ABA Banking Journal)
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