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. Industry News
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The Federal Reserve proposed easing "stress-test" requirements for banks with less than $250 billion in assets, a major piece of good news for U.S. regional banks. Fed governor Daniel Tarullo, speaking at Yale University on Monday, said banks with less than $250 billion in assets that don’t conduct significant nonbank or international activity would be exempt from the "qualitative" part of the Fed’s annual stress tests. (Wall Street Journal)
Visit http://www.wsj.com/articles/fed-to-ease-stress-tests-for-regional-banks-1474904701 to view the full article online. |
In advance of a congressional hearing on consumer access to banking services this week, ABA wrote to leaders of the House subcommittee on financial institutions and consumer credit voicing its support for several bills that would provide increased flexibility for brokered and reciprocal deposits. (ABA Baking Journal)
Visit http://bankingjournal.aba.com/2016/09/aba-supports-proposed-legislation-on-brokered-deposits/ to view the full article online. |
The number of new mortgages issued in 2015 rose 22 percent—reversing a more than 30 percent decline in mortgage originations the previous year—even as the number of originating institutions declined and nonbanks accounted for a greater share of new loans, according to housing finance data released Thursday. (National Mortgage News)
Visit http://www.nationalmortgagenews.com/news/origination/more-mortgages-in-2015-despite-fewer-lenders-hdma-data-1087907-1.html to view the full article online. |
The House passed a GOP-backed bill Wednesday night to delay the Obama administration’s controversial overtime rule from taking effect Dec. 1. The Regulatory Relief for Small Businesses, Schools and Nonprofits Act passed mostly along party lines by a vote of 246-177, delaying for six months the rule that makes 4.2 million Americans eligible for overtime pay. (The Hill)
Visit http://thehill.com/blogs/floor-action/house/298425-house-votes-to-delay-obamas-overtime-rule to view the full article online. |
Under a bill introduced by Rep. Patrick McHenry (R-N.C.) this week, companies—banks and nonbank financial technology firms alike—will be able to test innovative fintech products under a streamlined process with greater certainty about compliance requirements. (ABA Banking Journal)
Visit http://bankingjournal.aba.com/2016/09/new-bill-would-provide-compliance-safe-harbors-for-innovation/ to view the full article online. |
Federal Reserve Chair Janet Yellen said Wednesday that the central bank has no "fixed timetable" for raising interest rates but she believes the economy is ready for a rate hike by the end of the year. She said during an appearance before the House Financial Services Committee that when the Fed met last week, a majority of her colleagues believed it would be appropriate to raise rates before the end of this year. (New York Times)
Visit http://www.nytimes.com/aponline/2016/09/28/us/politics/ap-us-yellen-congress.html to view the full article online. |
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Oct 16
Nashville, TN
Oct 16-18
Nashville, TN
Oct 22-28
National Compliance School Atlanta, GA
Oct 23-27
Atlanta, GA
Oct 31-Nov 4
Washington, DC
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