|
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.
The banking industry can be proud of how it stepped up—virtually overnight—to keep society moving in the face of perilous uncertainty.
|
Ensuring that your bank stays up to date with current digital trends, especially when it comes to marketing and communications, matters more than ever.
|
The Consumer Price Index increased 0.4% in February on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index increased 1.7%.
|
When Gilda Nogueira’s family immigrated to the United States, East Cambridge Savings Bank in Cambridge, Massachusetts, helped them land on their feet and begin their new life in America. Today, Nogueira pays this opportunity forward through community banking as president and CEO of ECSB.
|
Banking regulators have increasingly used offsite examinations procedures for certain types of monitoring and examination work. During the COVID-19 pandemic, nearly all supervisory events have become virtual. A few tips on how to enhance your bank’s virtual exam approach.
|
Earlier this week, President Biden visited W.S. Jenks & Son, a D.C.-area hardware store that—according to Small Business Administration data—received a Paycheck Protection Program loan from Truist Bank in April 2020. That loan helped keep employees on the payroll during the pandemic.
|
As Congress passed the $1.9 trillion COVID-19 relief bill—which includes an additional round of economic impact payments for eligible taxpayers—ABA joined a coalition of financial and consumer advocacy groups urging Treasury Secretary Janet Yellen to support standalone legislation to ensure that these payments are shielded from assignment and garnishment.
|
ABA has written to the National Credit Union Administration seeking a 60-day extension to the 30-day comment period on a proposal to amend NCUA’s credit union service organization regulation.
|
In two comment letters to the Federal Housing Finance Agency, ABA weighed in on proposed changes to liquidity requirements for Fannie Mae and Freddie Mac, as well as proposed changes to resolution planning requirements for the two GSEs.
|
In response to concerns raised by industry stakeholders including ABA, the Department of Labor will revisit its recent final rules regarding environmental, social or governance investing and a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.
|
The Federal Reserve, FDIC and OCC have announced an interim final rule allowing Treasury investments made to community development financial institutions and minority depository institutions under the newly established Emergency Capital Investment program qualify as regulatory capital. Comments are due 60 days after publication in the Federal Register.
|
The Federal Reserve has clarified its guidance on how it defines minority depository institutions, and expanded its definition to include women-owned financial institutions.
|
|
