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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.
With uncertainty the rule, the best advice is to have banks’ change-management processes ready for whatever comes.
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Cybersecurity is the top risk priority in 2023 for most banks across the globe, although credit risk may grow in importance if economic conditions continue to deteriorate, according to a recent survey of chief risk officers.
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Amid growing financial stress and economic pressures, just 33% of Americans reported feeling savvy about their finances, compared to 43% a year ago, according to findings from the recent KeyBank 2023 Financial Mobility Survey.
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Agility and flexibility will be key as marketing teams allocate their resources to contribute to their institutions’ growth in meaningful ways.
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Meet Saleem Iqbal, ABA’s Community Bankers Council chair.
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While the unemployment rate edged down to 3.5% in December, survey data from Alignable shows small business stresses are starting to emerge.
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ABA has reiterated concerns about proposed amendments to Prohibited Transaction Exemption 84-14, known as the Qualified Professional Asset Manager exemption, in a letter to the U.S. Department of Labor.
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The Biden administration has issued its Fall 2022 Semiannual Regulatory Agenda—a semiannual listing of rulemakings that departments and agencies expect to initiate or continue during the next six months.
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The Consumer Financial Protection Bureau has proposed creating a public registry of terms and conditions in non-negotiable, nonbank contracts that claim to waive a customer’s ability to take certain actions, such as petitioning for bankruptcy or suing the company
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Potential new regulatory requirements to cushion the economic effects of certain large bank failures would not result in real benefits to the financial system or the public, ABA said in a letter to Federal Reserve and FDIC.
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The federal banking system remains resilient despite a recent dip in profitability as pandemic-related economic aid phased out, with banks able to use that strength to support their customers and the national economy, the OCC said in its annual report to Congress.
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Barring congressional action, it would be inappropriate for the Federal Reserve to use monetary policy or supervisory tools to promote a greener economy or achieve other climate-based goals, Fed Chairman Jerome Powell said recently.
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