Hearings This Week on FSOC, Qualified Mortgage, Cybersecurity. Several congressional committees will hold hearings this week on banking-related matters. Read more
AmBA Calls for Revisions to Proposed CRA Guidance. Proposed updates by the OCC, the Federal Reserve, and the FDIC to Community Reinvestment Act Q&As might discourage community development, AmBA warned in a comment letter Friday. Read more
Treasury Seeks Comments on Rules for Tax Treatment of Bad Debts. The Treasury Department and Internal Revenue Service yesterday issued a notice requesting comments on Treasury’s “Conclusive Presumption Regulations," which allow banks under certain circumstances to conclusively presume a debt to be partially or wholly worthless, thereby triggering a tax deduction for such bad debt. Read more
CFPB Issues Final List of Rural, Underserved Counties. The Consumer Financial Protection Bureau on Friday issued a rule clarifying technical aspects of its escrow rule, and it released a final list of rural and underserved counties to use in conjunction with the regulation. Read more
House Approves SEC Cost-Benefit Bill. The House on Friday approved by a 235-161 vote an AmBA-supported bill (H.R. 1062) that would require the Securities and Exchange Commission to do a thorough cost-benefit analysis before proposing a new regulation. Read more
AmBA Supports Reg Relief Bill. AmBA on Friday wrote to Rep. Blaine Luetkemeyer (R-Mo.) and other House Financial Services Committee members to express support for a regulatory relief bill (H.R. 1750) that Luetkemeyer recently introduced. Read more
AmBA Urges Regulators to Delay Call Report Changes. AmBA and two other trade groups in a letter Friday urged the federal banking regulators to announce a delay in the deadline for proposed Call Report revisions that originally were supposed to be implemented in June. Read more
BloombergBusinessweek Article Questions CU Growth. AmBA’s efforts to force a conversation on changes in the credit union industry were featured in a Bloomberg Businessweek article last week titled “Have Credit Unions Become Stealth Banks?” Read more
