ABA Banking Journal
May 6, 2022

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.

Marquis Software Solutions, Inc.®
Direct Mail Is Not Dead
Each year we ask ourselves the same question – how can banks better connect with their customers? While technology and social media are driving us all toward digital solutions, recent data indicates that direct mail continues to be an effective outreach tool even in this digital age.
Click here to read Marquis’ article and learn how to reach your customers where they are, including the mailbox.
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Industry News
The ABA Foundation invites entries for the tenth annual Community Commitment Awards, which recognize and promote extraordinary bank commitment to communities and the innovative, high-impact programs that improve the quality of life for customers and the communities banks serve.
 
These challenges will affect all markets, but will have local distinctions that will be important for market participants to understand as they navigate the uncertain road ahead.
 
Advancing women’s leadership in financial services is not just a job for women. It’s a job for all of us, including male CEOs like Zions Bank's Scott Anderson.
 
Data Center, Inc. (DCI)
ProcessUnity Incorporated
NACHA has created a legal and risk mitigation guide for banks looking to offer voice payment capabilities and applications through smart devices.
 
Banks face the challenge of future-proofing their use of messaging applications that are sure to face regulatory scrutiny.
 
The first estimate for GDP in Q1 2022 came in well under expectation, contracting at an annualized rate of 1.4%. This was largely due to worsening net exports and a decline in private inventories and government spending.
 
Jack Henry & Associates, Inc.®
Evolve and Adapt to Your Customers' Needs With Innovative Technology
For generations, banks have remained at the center of people’s financial lives. As technology continues to progress, evolving and adapting with that technology is critical to your institution’s success. Your customers need you to understand their needs and guide them with individualized digital experiences. By doing so, you’ll not only deliver an exceptional customer experience but strengthen connections with your customers, too.
Watch the Video
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Policy News
Ahead of a hearing in the Senate Judiciary Committee on credit and debit card interchange fees, ABA joined with a broad coalition of industry groups to communicate to lawmakers the serious flaws of interchange regulations and push back against efforts to expand the Durbin amendment.
 
In a statement submitted for the record ahead of a Senate Banking subcommittee hearing on overdraft, ABA emphasized the important role that overdraft protection plays as a source of liquidity for American consumers and urged lawmakers to reject any legislation that would restrict these offerings.
 
As the House and Senate work to reconcile differences between their respective versions of the America Competes Act, ABA and 51 state bankers associations urged lawmakers to include the SAFE Banking Act in the final legislation. 
 
Biz2Credit, Inc.
Capco
The Internal Revenue Service has released updated contribution limits—adjusted for inflation—for health savings accounts for 2023. 
 
In a statement for the record of a House Financial Services Committee task force hearing, ABA urged lawmakers to “remain vigilant and deliberate” in their policymaking to ensure that regulations support innovation in mobile banking and payments, rather than overregulating or replacing private sector innovators.
 
The FDIC has appointed seven new members to its Advisory Committee on Community Banking. Twelve of 19 on the panel are with ABA member banks.
 
U.S. Bank Cash Management Services®
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