ABA Banking Journal
May 15, 2015

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 and other email bulletins.

Industry News
Asked to name an event that has reshaped finance in recent years, bankers will point to the collapse of Lehman Brothers on September 15, 2008. Fintech types are more likely to mention something that happened six weeks later: the unveiling of bitcoin. (The Economist)
Cybersecurity and anti-fraud measures are increasingly on the minds of financial services executives, and in their budgets. (American Banker)
For banks facing continuing market volatility and upheaval, risk management plays a double role. "Defensive" risk management – focused on regulatory compliance, controls and, basically, on staying out of trouble – remains vitally important. But, more and more often, risk management is playing an active role in helping banks identify and achieve growth. (Forbes)
PULSE, a Discover company
Naylor Association Solutions
Drive-up banking seems out of place in today's high-tech world, conjuring up images of customers tossing driver's licenses, checks and deposit slips into pneumatic tubes that blast off to distant tellers. Yet drive-up banking remains popular with consumers across the U.S. (American Banker)
Most of us – nine out of 10 American households – have a checking account. We expect our bank to be fair about its fees and to disclose clearly all terms and conditions, especially those that could cost us money. (NBC News)
The U.S. government has opened a new line of business for America’s biggest banks, and for once they don’t want it. Little wonder: It’s cash from legalized marijuana. (Bloomberg)
Policy News
A draft Republican bill in the U.S. Senate takes aim at bank rules and insurance regulations, also limiting restrictions on mortgage requirements and proposes restructuring the Federal Reserve and other financial regulators. (Reuters)
A potentially honest assessment of current status of the credit union system is that it is only slightly less egregious than banks with delivering financial services to A and B level members. (Credit Union Times)
Bankers across the country will welcome their senators and representatives into their banks during "Take Your Lawmaker to Work Week" on Sept. 21-25, ABA announced this week. (ABA Newsbytes)
Naylor Association Solutions
Nearly seven years after the financial crisis, Federal Deposit Insurance Corp. Chairman Martin Gruenberg said U.S. regulators can safely guide a major financial firm to failure without taxpayer bailouts or catastrophic consequences for the financial system. (Wall Street Journal)
A new mortgage disclosure regime due to take effect on Aug. 1 is unlikely to cause closing delays, according to Consumer Financial Protection Bureau Director Richard Cordray. (National Mortgage News)
Like any football fan and patriotic American, I’ve always been perplexed by why the National Football League and certain other big sports leagues are tax-exempt corporations, organized under a section of the tax code intended for trade associations, professional organizations and local chambers of commerce. (Roll Call)
PULSE, a Discover company
June 4-11
University of Pennsylvania, Philadelphia, PA

June 8-10
Hilton Nashville Downtown, Nashville, TN

June 11-18
Emory Conference Center Hotel, Atlanta, GA

June 13
Washington Marriott Wardman Park Hotel, Washington, D.C.

June 14-17
Washington Marriott Wardman Park Hotel, Washington, D.C.
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