ABA Banking Journal
July 29, 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.

Zintel Public Relations LLC®
Protect customer information. Start with the client side.
Give your team a security tool that identifies and protects from JavaScript injection, cross-site scripting, e-skimming, and more.
Learn more about Feroot
Advertisement
Industry News
Innovations in account registration have given fraudsters just as much convenience as customers. Although check use is not as common in the digital age, fraudsters utilize checks as a convenient medium to exploit banks and their customers.
 
A recent survey of community bank leaders found that nearly all believe that a recession is just around the corner, with more than half of respondents blaming the Federal Reserve.
 
The latest issue of the FDIC Quarterly explores loan performance at community banks in five manufacturing-concentrated states: Indiana, Kentucky, Louisiana, Michigan and Wisconsin.
 
Data Center, Inc. (DCI)
Quantum Secure
After spending more than a quarter century in de novo commercial banks, Dave Hanrahan made a career move to a mutual savings bank, and he hasn’t looked back.
 
Scammers are increasingly impersonating financial services companies as they seek to trick unsuspecting computer users into divulging sensitive information through phishing emails and websites, according to a report released by cybersecurity firm Vade.
 
Regardless of where your bank stands on environment, social or governance-related policies, banks have good stories to tell investors who care about ESG—and telling those stories may help with regulatory compliance.
 
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
Advertisement
Policy News
The House passed the 2023 National Defense Authorization Act, which included the SAFE Banking Act—a bill long advocated by ABA that would enable financial institutions to serve legitimate cannabis businesses in states where it is legal.
 
ABA is asking House Financial Service Committee members to oppose two bills that would rewrite federal rules on overdraft fees and the use of credit information in determining mortgage loan eligibility.
 
The FDIC has updated two chapters of its manual on formal and informal enforcement actions to provide clarity regarding the agency’s minimum standards for terminating cease-and-desist and consent orders issued under Section 8(b) of the Federal Deposit Insurance Act.
 
Biz2Credit, Inc.
Capco
The proposal would replace Libor references in certain contracts with the applicable Fed-selected replacement rate after June 30, 2023.
 
The guidance is intended to provide more clarity to systemically important stablecoin arrangements, or SAs, and relevant authorities, but is not intended to create new standards.
 
Testifying before the House Financial Services Committee, Federal Housing Finance Agency Director Sandra Thompson acknowledged the challenges currently facing the mortgage market as a result of inflation and rising interest rates.
 
U.S. Bank Cash Management Services®
Power your success with the industry leader.
You can trust our proven cash management strategies to help you achieve operational efficiency, allowing you to focus on key business initiatives. Put the power of our people to work for you with the nation’s largest and most experienced provider of cash management solutions.
Learn More
Advertisement
Training

August 1 - 26
Facilitated Training: Building Customer Relationships

August 2
Webinar: Strong BSA Pillars in Today’s Changing Environment

August 8 - 11
School: Risk Management School – Advanced
Hyatt Regency Reston | Reston, VA

August 8 - 12
School: Risk Management School – Foundational
Hyatt Regency Reston | Reston, VA

August 10
Webinar: Marketing as a Strategic Partner

August 11
Webinar: Electronic Wills and Remote Signatures

August 15 - September 9
Facilitated Training: Marketing Planning

August 16 - 18
Virtual School: Payments Strategy School

September 1
Webinar: How to be a Good Trustee and a Good Beneficiary

 
 

 

Advertise

We would appreciate your comments or suggestions.
Your email will be kept private and confidential.