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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.
This post is part of a series exploring what U.S. regulators should prioritize as they consider Basel III Endgame implementation. Here, we focus on the need to modernize the Regulatory Consistency Assessment Programme (RCAP) so that it evaluates substance over form and gives proper credit for the extremely robust and conservative national framework applied in the U.S.
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Payment stablecoins issued by nonbanks are economically equivalent to MMFs. One could even characterize them as tokenized MMFs used for payments. They share the same vulnerabilities with MMFs, and may suffer similar runs under stress.
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Banks that successfully integrate AI into their compliance operations tend to follow the mantra: Automate the process, not the principle.
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Ensuring appraisals and other types of property valuations are accurate is not just about fair lending. Property valuations influence loan approvals, interest rates, and borrowing power.
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A smart program builds trust and confidence in the acquiring institution with robust, well-timed omnichannel tactics and strategic messaging.
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To help prevent fraud, Kish Bank, located in central in Pennsylvania, told its customers to "stop and think." It worked. From the fourth quarter of 2023 to the first quarter of 2024, following the successful conclusion of its increased fraud awareness efforts supported by the #BanksNeverAskThat campaign, Kish Bank experienced a 94% decline in customer losses to fraud.
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The Office of the Comptroller of the Currency should reject a recent request to rescind certain regulations that articulate core national bank preemption standards, which would undermine the strength of the nation’s dual banking system, the ABA said in a letter to the agency.
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The ABA said it supports seven proposed enhancements to the International Automated Clearing House Transaction framework by Nacha, including eliminating the current restriction on same-day processing.
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The Labor Department has rescinded a 2022 compliance release that directed fiduciaries to exercise “extreme care” before adding a cryptocurrency option to a 401(k) plan’s investment menu for plan participants.
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In recent years, the Department of Justice has targeted banks for alleged racial redlining for conduct that does not constitute redlining, raising serious legal and constitutional questions, according to a new report authored by a civil rights legal expert for the ABA.
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The ABA has suggested the Financial Crimes Enforcement Network make several revisions to its beneficial ownership information rule to ease the burden of its reporting requirements, including exempting banks from the definition of “beneficial owner.”
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The Federal Reserve and a coalition of bank and business associations have requested that a federal court pause litigation challenging the Fed’s stress testing framework.
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