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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 stories, digital exclusives, the ABA Banking Journal Podcast and more.
ABA and the state associations are working to advance the industry’s priorities, outlined in ABA’s 2025 Blueprint for Growth.
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Banks are uniquely positioned to jumpstart a positive societal impact and improve the financial health of their communities.
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In the wake of the new executive order directing the Treasury to eliminate the use of paper checks for federal government disbursements (and payments to the U.S. government), ABA’s Steve Kenneally joins the podcast for a conversation on what’s next for the payments system.
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A shift in Fed policy would undermine the economy and financial stability while doing nothing to help the federal budget.
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The prices of cryptocurrencies such as bitcoin and ethereum skyrocketed in the month after Donald Trump’s presidential victory, and while they’ve moderated somewhat since then, the clear consensus is that the Trump administration will benefit the crypto industry — and re-open opportunities for banks.
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Legislators and regulators are strongly focused on policy related to payment stablecoins, most recently with the passage of the Genius Act in the Senate Banking Committee. On this episode of the ABA Banking Journal Podcast, ABA’s Brooke Ybarra and Kirsten Sutton discuss the current policy and technology landscape on stablecoins.
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Along with compelling taglines and eye-catching graphics, data is critical to a bank’s marketing efforts. Accurate, timely and relevant data allows bank marketing professionals to target their efforts and ensure their goals align with those of the bank.
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A proposed rule by the Consumer Financial Protection Bureau to expand consumer reporting regulations to consumer-identifying information would reduce banks’ ability to detect and prevent fraud and identity theft, the ABA said in a letter to the CFPB.
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The ABA joined four banking and housing lender associations in urging lawmakers to allocate at least $324 million for the Community Development Financial Institutions Fund in the coming fiscal year.
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Despite the banking industry’s significant effort and investment in fraud prevention tools, bad actors continue to target U.S. consumers, Darrin McLaughlin, EVP for Flagstar Bank, told House lawmakers. McLaughlin testified on behalf of theABA before the House Financial Services Subcommittee on National Security, Illicit Finance and International Financial Institutions, which held a hearing on combating fraud.
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The Consumer Financial Protection Bureau does not have the authority to prohibit contractual provisions in agreements for consumer financial products or services that waive “substantive” consumer legal rights and protections, so it should rescind a proposed rule attempting to do just that, the ABA and two associations said.
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The Consumer Financial Protection Bureau announced that “it will not prioritize enforcement or supervision actions” with respect to its 2017 small-dollar lending rule, which was to take effect March 30. The CFPB further advised that it is “contemplating issuing a notice of proposed rulemaking to narrow the scope of the rule.”
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Sen. Ted Cruz (R-Texas) has introduced legislation to block the Federal Reserve from issuing a central bank digital currency. The bill is cosponsored by Sens. Ted Budd (R-N.C.), Kevin Cramer (R-N.D.) and Thom Tillis (R-N.C.). The Anti-CBDC Surveillance State Act has also been introduced in the House by Rep. Tom Emmer (R-Minn.). The ABA has voiced support for both versions.
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