ABA Banking Journal
November 16, 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
Apple Inc. is in discussions with U.S. banks to develop a payment service that would let users zap money to one another from their phones rather than relying on cash or checks, according to people familiar with the matter. (Wall Street Journal)
At least 100 banks have approached a bitcoin wallet provider about integrating the nascent transaction technology into their systems, according to the company's CEO. (CNBC)
The EMV migration in the U.S. has been slow, but there are technology alternatives that allow for fast and accurate deployment of chip cards. (Payments Source)
Recently, four people have been charged by the FBI for allegedly scamming $2.4 million from the country’s most vulnerable citizens: seniors. And it is a growing problem. (Forbes)
It is widely acknowledged that the Internet of Things (IoT) will have a huge impact on nearly every industry, and financial services is no exception.
Policy News
After at least five years of serious debate about proposing to mark all financial assets and liabilities to market, the Financial Accounting Standards Board on Wednesday gave final approval to an accounting standard that is limited in its requirement for mark to market accounting.
Bailouts of big U.S. banks and financial-sector regulations were focal points during this week’s Republican presidential debate, underscoring the continuing resonance of those themes in the 2016 race. (Charlotte Observer)
The House voted 371-54 to approve a long-term highway funding bill. Just prior to passage, the House overwhelmingly approved measures that would remove controversial funding methods from the bill. (ABA Banking Journal)
New York’s Department of Financial Services is considering issuing new regulations on cybersecurity for financial institutions, according to a letter the department sent to federal and state regulators. (ABA Banking Journal)
PULSE, a Discover company
To assist financial institutions in collecting and scoring responses to the Federal Financial Institutions Examination Council’s Cybersecurity Assessment Tool, the Financial Services Sector Coordinating Council has released an Automated Cybersecurity Assessment Tool. (ABA Banking Journal)
Incoming ABA CEO Rob Nichols discussed his plans to fight for regulatory relief, unite banks of all sizes and engage millennials in a recent interview with The Hill. (The Hill)
PULSE, a Discover company
January 24-27
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March 15
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