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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.
There’s growing interest in AI adoption across industries, and banking is no exception. Many in the field are testing the waters, seeking ways to put the technology to effective and productive work. But banking has unique characteristics that can challenge efforts to gain value if not hard ROI from these investments — principally its highly regulated environment and correspondingly risk-sensitive nature.
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According to new data from Blackbaud, finance and insurance was a leading industry in corporate social responsibility in 2024, giving back to local and global communities. Financial institutions are at the forefront in volunteering engagement at 22.2%, nearly a 50% increase from 2023.
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With more than one in three Americans having experienced financial fraud or a scam since January 2024 — 37% of whom have lost money — fraud has become pervasive. According to a new Bankrate survey, baby boomers and Generation X are the most likely to experience financial scams. Additionally, half of Gen Z respondents who said they experienced a scam lost money.
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Not only do we celebrate the 150th anniversary of our organization, we also commemorate an important milestone for the ABA Foundation.
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The position of chief risk officer at financial institutions today is not for the faint of heart — not that it ever was. But CRO responsibilities have broadened dramatically, requiring fluency not only in traditional bank risks but nonfinancial risks, that make the position more demanding but also elevate it into corporate leadership.
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Customer inquiries and complaints are important tools for detecting scams, but structural barriers in the bank may prevent them from being fully used.
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The Office of the Comptroller of the Currency should proactively support responsible community bank digitalization through transparency, information sharing and meaningful dialogue with stakeholders, the ABA said in a letter to the agency.
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The FDIC board will hold an open meeting next week to consider several agenda items, including proposals on regulatory thresholds, the Community Reinvestment Act and bank branches.
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The ABA, along with 52 banking trade associations, sent a letter urging leaders at the Federal Reserve, Office of the Comptroller of the Currency and the FDIC to prioritize the indexing of supervisory asset thresholds.
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The results of the Federal Reserve’s annual bank stress test showed that large banks remain well positioned to weather a severe recession and stay above minimum capital requirements, the Fed announced.
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Fannie Mae and Freddie Mac will allow lenders the option to use VantageScore 4.0 while still allowing use of FICO to assess the creditworthiness of mortgages, Federal Housing Finance Agency Director Bill Pulte announced in a post on X.
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Federal Open Market Committee members remain somewhat split on the long-term effects of the Trump administration’s tariff policy on inflation, according to the minutes from the FOMC’s June 17-18 meeting.
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