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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 stories, digital exclusives, the ABA Banking Journal Podcast and more.
Lenders still expect borrower profitability to remain relatively elevated this year.
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More than ever, we must take proactive steps to ensure we are empowering our customers to overcome economic crises and access pathways to prosperity.
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Expectations for a recession among small- and midsize-business leaders have moderated following a year of better-than-expected economic growth, although overall economic optimism remains low by historical standards, according to JPMorgan Chase’s 2024 Business Leaders Outlook survey.
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The cumulative impact of Durbin 2.0, the CFPB’s late fees proposal and the Basel III endgame could seriously harm credit card users.
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Esquire Bank has found a strategy that turns the typical ratio of business client loans to deposits on its head. Through its nationwide vertical of services for law firms, Esquire Bank brings in roughly $1.80 in core deposits for every dollar lent.
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A review of Bank Secrecy Act data filed in 2021 found that roughly 41% percent of reports were related to suspicious activity concerning identity, accounting for $212 billion in activity that year, according to a financial trend analysis released by FinCEN.
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The CFPB issued two advisory opinions for consumer reporting companies to address what it said were inaccurate background check reports and “sloppy” credit file sharing practices.
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The Department of Labor’s proposed fiduciary rule is a misguided approach fraught with serious risks, costs and uncertainties for retirement investors and for the banks and other organizations that supply retirement services, ABA said.
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Policymakers should identify and evaluate the range of potential policy responses to the risks posed by decentralized finance, or DeFi, according to a report by a Commodity Futures Trading Commission advisory committee.
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The FDIC, Federal Reserve and OCC jointly released a prerecorded, one-hour webinar on the final rule to modernize regulations implementing the Community Reinvestment Act.
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Federal Reserve Vice Chairman for Supervision Michael Barr said that the Fed is considering adjustments to key provisions in its proposed rulemaking to implement the Basel III “endgame” capital requirements, the news agency Reuters reported.
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In a joint letter, ABA and the Consumer Bankers Association expressed tentative support for a CFPB proposal to regulate large nonbank firms that provide digital payments services, including P2P payments, mobile wallets and other payment apps.
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