ABA Banking Journal
January 4, 2019

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
2018 was a busy year at the ABA Banking Journal. Presented here are the top 10 most-read features on the Banking Journal website this year. Thanks for reading in 2018! (ABA Banking Journal)
Job creation ended 2018 on a powerful note, with nonfarm payrolls surging by 312,000 in December though the unemployment rate rose to 3.9 percent. The jobless rate, which was last higher in June, rose as 419,000 new workers entered the workforce and the labor force participation rate increased to 63.1 percent. (CNBC)
In this recent interview highlighting his role as a banking industry leader, ABA's Rob Nichols flagged humility and kindness as two of the core leadership principles that have guided him throughout his career. A critical part of that, he noted, is sharing successes with others. (Forbes)
Data Center, Inc. (DCI)
Charlie Schmalz is optimistic about the policy environment for community banks. As chairman of ABA’s Community Bankers Council and president and CEO of East Wisconsin Savings Bank, he outlines provisions in S. 2155 that will help his bank and describes it as “the beginning of common-sense banking legislation that needs to be passed.” (ABA Banking Journal)
It’s not often that a year is riven with so many momentous economic changes. But 2018 was full of them: a large increase in government spending, low unemployment levels not seen in decades, trade conflicts, interest rate uncertainty, recession fears. Here’s a look at what 2019 inherited from 2018, and the issues to watch for as we start the new year. (Marketplace)
The International Consumer Electronics Show, that annual conference and trade show better (and officially) known as CES is taking place in Las Vegas next week. Since CES helps sets the payments and commerce agenda for the coming year, here's a glimpse of what’s coming. (PYMNTS.com)
Jack Henry & Associates, Inc.
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Policy News
With the federal government shut down since Decmber 22, several agencies are closing all but essential operations. Federal banking regulators — the Consumer Financial Protection Bureau, FDIC, Federal Reserve and OCC — will remain open as their funding does not come from congressional spending. However, federal lending programs, including the Small Business Administration, Federal Housing Administration and USDA programs, will be curtailed. (ABA Banking Journal)
Following strong objection from ABA and other trade groups, the Federal Emergency Management Agency will allow operations of the National Flood Insurance Program to resume, even while the government remains partially shut down. The move was retroactive to Dec. 21, ultimately leaving no lapse in NFIP availability. (ABA Banking Journal)
Computer Services Inc
ABA pushed back against the National Credit Union Administration’s decision to allow the country’s third-largest credit union to acquire a rare nationwide charter. With $24 billion in assets, Pentagon Federal Credit Union acquired Progressive Credit Union, a troubled New York City taxi medallion lender, in an “emergency merger,” which also allowed PenFed to acquire Progressive’s unusual open charter — a relic of the days before the Federal Credit Union Act. (ABA Banking Journal)
The real estate finance business has been steering through continuous change for a full decade. As we look toward the coming year, we see continued movement and even more reforms. To ring in the new year, ABA policy staff have identified the top 10 issues that we expect to be in play for banks in 2019. (ABA Banking Journal)
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