Welcome to the ABA Banking Journal newsletter, 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.
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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)
Visit http://www.bloomberg.com/news/articles/2015-11-24/bank-profits-rose-to-40-4-billion-in-third-quarter-fdic-says to view the full article online. |
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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)
Visit http://www.wired.com/2015/11/coinbase-unveils-countrys-first-bitcoin-debit-card/ to view the full article online. |
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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)
Visit http://www.stltoday.com/business/columns/david-nicklaus/bankers-see-farm-income-continuing-to-drop/article_e21c56e9-c104-55de-8f3a-2eb5b906a16f.html to view the full article online. |
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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)
Visit http://www.reuters.com/article/2015/11/17/france-shooting-usa-financing-idUSL1N13C21C20151117 to view the full article online. |
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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)
Visit http://www.dallasnews.com/business/residential-real-estate/20151115-millennials-are-making-their-move-in-the-housing-market.ece to view the full article online. |
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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)
Visit http://www.wsj.com/articles/why-the-housing-rebound-hasnt-lifted-the-u-s-economy-much-1448221840 to view the full article online. |
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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)
Visit http://www.americanbanker.com/news/community-banking/dont-fear-fintech-firms-new-aba-chairman-says-1077891-1.html to view the full article online. |
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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)
Visit http://www.americanbanker.com/news/law-regulation/errors-abound-in-cfpbs-complaint-portal-1077878-1.html to view the full article online. |
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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)
Visit http://bankingjournal.aba.com/2015/11/aba-groups-cyber-bill-provision-not-adequately-vetted/ to view the full article online. |
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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)
Visit http://www.nytimes.com/2015/11/19/business/economy/fed-minutes-interest-rate-increase.html to view the full article online. |
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Federal Reserve officials are wrestling with a nettlesome question raised by their vast post-crisis regulatory powers. (Wall Street Journal)
Visit http://www.wsj.com/articles/the-feds-new-worry-do-bank-and-market-safety-rules-conflict-1448293356 to view the full article online. |
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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)
Visit http://bankingjournal.aba.com/2015/11/aba-chides-ncua-for-membership-rule-overreach/ to view the full article online. |
