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.
Federal Reserve officials keep up with the economic literature, and it has a way of creeping into their speeches. That’s been especially true lately, as policy makers grapple with fundamental questions about economic growth. Two of the biggest debates, which are intertwined, center on what’s caused output to expand more slowly in recent years and what’s happened to the neutral policy interest rate. These major works are what Fed officials are referencing on those topics. (Bloomberg)
Visit http://www.bloomberg.com/news/articles/2016-08-04/this-summer-reading-list-will-help-you-decode-fed-speak to view the full article online.
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Improving the customer experience is worth the investment for mortgage servicers, according to the 2016 J.D. Power study of consumer satisfaction with their primary mortgage servicers. Companies that invest in improving customer experience typically see fewer complaints, more opportunities for cost reduction, lower instances of portfolio loss and increased business with current and prospective customers, the survey said. (ABA Banking Journal)
Visit http://bankingjournal.aba.com/2016/08/study-improving-customer-service-a-worthwhile-investment-for-servicers/ to view the full article online.
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Policy News
The federal banking agencies said this week that they are now urging banks to conduct voluntary diversity self-assessments. The self-assessment is based on diversity and inclusion assessment standards issued by the agencies last summer; information about submitting the assessments will be provided by regulatory agencies directly to banks "at a later date." (ABA Banking Journal)
Visit http://bankingjournal.aba.com/2016/08/agencies-strongly-encourage-bank-diversity-self-assessments/ to view the full article online.
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The FDIC board has voted to propose amendments to its supervisory guidelines that would expand banks’ rights to appeal exam decisions and improve consistency with other agencies’ appeals processes. The action follows a blistering February report from the agency’s independent watchdog on the FDIC’s handling of banks making tax refund anticipation loans and also responds to comments raised by the American Bankers Association and others in the recently concluded Economic Growth and Regulatory Paperwork Reduction Act process. (ABA Banking Journal)
Visit http://bankingjournal.aba.com/2016/07/under-criticism-fdic-amends-exam-appeals-process/ to view the full article online.
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Training
September 18-20
Scottsdale, AZ
September 19-21
Charleston, SC
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