ABA Banking Journal
May 22, 2020

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
Addressing security concerns, measures and protocols are essential when the bankers themselves are the ones practicing mobile banking. (ABA Banking Journal)
Ten key factors to keep in mind next time you prepare to negotiate a core contract.
As reported by several media outlets earlier this week, Comptroller of the Currency Joseph Otting today announced that he would step down from office on May 29. Brian Brooks, a former vice chairman at OneWest Bank and general counsel at Fannie Mae banker who joined the OCC last month as first deputy comptroller and COO, will serve as acting comptroller upon Otting’s departure. (ABA Banking Journal)
Data Center, Inc. (DCI)
Computer Services Inc
Jack Henry & Associates, Inc.
New Deposits at a Fraction of the Cost
By utilizing two key Jack Henry solutions, the SilverLake System® core processing platform and the Banno Digital Platform™, St. Louis-based Midwest BankCentre launched a separately branded digital institution (Rising Bank) in only six months. In its first year, Rising gathered over $130 million in new deposits at a fraction of the cost of traditional branch banking.

Read the Celent case study.
Policy News
In a highly anticipated move, the Federal Housing Finance Agency re-proposed a 2018 proposal to establish a new regulatory capital framework for Fannie Mae and Freddie Mac, charting a clear path for the GSEs to exit conservatorship. (ABA Banking Journal)
The Consumer Financial Protection Bureau has finalized several ABA-advocated changes to the remittance rule, including one that will permanently allow depository institutions to estimate certain fees and exchange rates when making disclosures to their customer about the cost of remittance transfers. (ABA Banking Journal)
To encourage banks and other depository institutions to engage in responsible small-dollar lending, federal financial regulators today issued long-awaited joint guidance for offering these types of loans to consumers and small businesses. (ABA Banking Journal)
The OCC today issued its long-awaited final rule making significant changes to the regulations implementing the Community Reinvestment Act—the first overhaul of the CRA framework in more than three decades. (ABA Banking Journal)
Appraisal Institute
Cummins Allison
Newgen Software Inc
Anxious about dealing with the PPP loan forgiveness process challenges?
Here’s how financial institutions, like yours, can overcome challenges and help small businesses:
· Proactive customer communication
· Forgiveness data assessment
· Process automation
· Risk and compliance management
Newgen can help. Watch a demo

May 22
Webinar: Opportunities for Your Bank; Safety for Your Customers

May 27
Webinar: Retail Lending in the Aftermath of COVID-19

June 1-26
Facilitated Training: Marketing in Banking

June 3
Webinar: How to Get Started with eMortgages

June 4
Webinar: Today’s Role of Settlor Intent

June 8 - July 3
Facilitated Training: Bank Lines of Business

June 8 - July 10 
Facilitated Training: Managing Funding, Liquidity and Capital

June 10
Webinar: Unclaimed Property: Escheatment Updates

June 15 - August 21
Facilitated Training: Introduction to Mortgage Lending

June 15 - September 4
Facilitated Training: Commercial Lending

July 28-30
Live and On-Demand: Risk and Compliance Virtual Conference

Coronavirus News
A new video released by the ABA highlights the many ways America’s banks have stepped up to support customers and communities facing unprecedented challenges during the coronavirus pandemic. (ABA Banking Journal)
With the COVID-19 curve flattening and states beginning to open for business, how are banks preparing for what’s next? (ABA Banking Journal)
As the coronavirus pandemic and the policy response to it affect businesses and commercial credit, many borrowers are converting revolving and secured cashflow credit facilities to asset-based lending facilities. Ed Gately of MUFG Americas discusses this trend and what it means for borrowers and banks. (ABA Banking Journal)
The Consumer Financial Protection Bureau has said it would provide flexibility for creditors to resolve billing errors during the coronavirus pandemic. (ABA Banking Journal)



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