Latest Headlines

State Associations Urge Cannabis Hearings in Senate (5/21/2019) 
The 51 state bankers associations urged the Senate Banking Committee to hold hearings on legislative solutions to the conundrum faced by banks in states where marijuana has been legalized.
ABA Calls for CECL Delay, Quantitative Impact Study in Letter to Rep. Meeks (5/16/2019) 
In a letter to Rep. Gregory Meeks, ABA reiterated its call for a delay in the implementation of the current expected credit loss accounting standard until a quantitative impact study can be conducted and the full economic effects of CECL can be deter
House Financial Services Committee Advances BSA/AML Bill (5/10/2019) 
The House Financial Services Committee voted to advance H.R. 2514—an ABA-backed bill introduced by Rep. Emanuel Cleaver (D-Mo.) that would modernize the BSA/AML framework.
State AGs Call for Legal Clarity on Banking Legitimate Cannabis Businesses (5/9/2019) 
In letter to congressional leaders, a bipartisan group of 38 state attorneys general urged lawmakers to advance legislation allowing banks to serve marijuana-related businesses in states where the drug is legal.
Banks Ease Standards, Terms for C&I Loans to Large, Midsize Firms (5/7/2019) 
A small net percentage of banks reported easing standards and terms for loans to large and midsize firms in the previous quarter, while on net no banks eased standards for small businesses.
OCC Pilot Program to Provide Input on Innovative Bank Products, Services (5/1/2019) 
As part of its ongoing efforts to support innovation in the banking sector, the OCC yesterday requested public feedback on a proposed “innovation pilot program.”
ABA, Trade Groups Urge Congress to Protect Lawful Bank Calls (5/1/2019) 
ABA joined the U.S. Chamber of Commerce & several other industry trade groups in urging members of the House Energy and Commerce Committee to ensure that banks & businesses can communicate with their customers through calls and text messages.
Credit Card Use Expands in Fourth Quarter (5/1/2019) 
Credit card use picked up in the fourth quarter of 2018, according to ABA’s latest Credit Card Market Monitor released.
ABA Supports Bill to Level Playing Field with Farm Credit (4/30/2019) 
ABA yesterday wrote to House lawmakers in support of H.R. 1872, the Enhancing Credit Opportunities in Rural America Act
Court Confirms EEO-1 Pay Data Reporting Delayed Until Sept. 30 (4/26/2019) 
A federal district court confirmed that the U.S. Equal Employment Opportunity Commission may delay to Sept. 30, 2019.
CFPB Seeks Feedback on Remittance Rule Changes (4/26/2019) 
The CFPB has issued a request for information seeking input on potential changes to its remittance rule.
ABA Report: Ag Lending Growth Tops 5 Percent in 2018 (4/24/2019) 
The nation’s farm banks increased agricultural lending by 5.3%, or $5.5 billion, to $108 billion in 2018, according to the ABA’s annual Farm Bank Performance Report.
CFPB Pledges More Transparency in Civil Investigative Demands (4/24/2019) 
The Consumer Financial Protection Bureau yesterday announced that it will change its policy on civil investigative demands to improve transparency.
Rate Transition Panel Releases User’s Guide to SOFR (4/23/2019) 
The Alternative Reference Rates Committee issued “A User’s Guide to SOFR,” a handbook to help market participants understand the Secured Overnight Financing Rate.
Report: Less Than Half of Long-Term Commercial Credit Renewals Repriced (4/23/2019) 
About 57% of banks' commercial credit renewals for terms of three years or longer are being rolled over at existing prices rather than being repriced.
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