Banks have been a source of strength for the economy during the pandemic. A year into the crisis, the blunt instrument of leverage ratios is about to make it harder for banks of all sizes to support the recovery.

New standards designed for the digital era would strengthen security, prevent fraud and finally give consumers more control over their money.

The Q2 2021 ABA Credit Conditions Report finds that near-term expectations for credit quality and availability have improved markedly for both consumers and businesses, building on the recovery that began last quarter.

On the latest episode of the ABA Banking Journal Podcast, ABA Senior Counsel Shaun Kern discusses the OCC’s recent proposal to revise its rules on permissible bank premises for national banks and federal thrifts, as well as ABA’s call for the agency to withdraw the proposal.

Banks can become less reliant on third-party lead aggregators and reduce their cost of acquisition by better using what they already know.

Though the goals for passing of the reintroduced Enhancing Credit Opportunities in Rural America Act of 2021, commonly known as ECORA, haven’t changed much over the last few years, this Congress may have a better shot at leveling the playing field between farm banks and Farm Credit System lenders, ultimately giving struggling farmers and ranchers greater access to affordable credit options.

In this episode, podcast co-hosts Evan Sparks and Monica C. Meinert review highlights from the ABA’s recent virtual Washington Summit. If you missed the Summit, tune in for insight and analysis on the past few days, and if you watched the virtual event, revisit all the highlights in just 20 minutes.

As part of its ongoing effort to support the transition away from the London Interbank Offered Rate, the Alternative Reference Rates Committee supplemented its recommended hardwired fallback language for syndicated and bilateral business loans that reference U.S. dollar Libor.

Federal Reserve Chairman Jerome Powell told the House Financial Services Committee that, regarding his agency’s work on mitigating climate change-related risks, it is a “long-held policy of the Fed that we don’t tell banks what legal businesses they can lend to.”

Federal Reserve Chairman Jerome Powell said that his agency is “not equipped to service individual commercial and retail accounts” and that doing so is currently “not permitted under law.”

Treasury Secretary Janet Yellen said that banks “should have some ability ... to make returns to shareholders” through stock buybacks, which had been suspended earlier in the pandemic.

The Financial Crimes Enforcement Network will issue an advanced notice of proposed rulemaking regarding the implementation of the beneficial ownership reporting requirements included in the Corporate Transparency Act, FinCEN Director Kenneth Blanco said at a virtual industry event.