American Bankers Association

Banks, consumers groups to CFPB: Don’t rush overhaul of redlining law


The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.”


CRA rule done, OCC set to unveil scoring proposal


Acting Comptroller of the Currency Brian Brooks said the agency plans to issue new assessment procedures within weeks as a follow-up to recent Community Reinvestment Act reforms. He also touched on the “true lender” issue and why the agency is considering a narrow-purpose payments charter.


Banks, credit unions pan OCC idea to create charter for payments firms


Seven trade groups said they would fight any effort by the agency to establish a tailored license for payments providers such as PayPal, Stripe and Square.


ABA offers political lifeline on masks, and banks are relieved


Financial institutions want to protect customers and employees from the coronavirus but are caught in the middle of a politically charged public health debate. The stance taken by the industry’s largest trade group gives them cover.


Eliminating field of membership enables credit unions' money grab


Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks.


Groups urge FHFA to extend comment period on GSE capital plan


In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.


Supreme Court won't hear bankers' appeal in credit union membership suit


The court's decision not to consider an appeal from the American Bankers Association is likely to be the last step in a legal saga dating back to 2016.


Banking industry renews opposition to Rakuten's ILC application


Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns.


NCUA’s low-income designation hurts service members


A decision that expands the low-income definition to all active-duty military personnel will only enable large credit unions to push out smaller competitors, removing choice for people in the military.


Banks back bill to eliminate brokered deposit restrictions


The legislation would aim to address concerns that the current policy is outdated by establishing a new regime to limit asset growth for banks that are not well-capitalized.