Bank groups are pushing a variety of proposals to delay the loan-loss rule or soften its impact. The accounting standards board has agreed to review at least one of them — but at a pace that might not be fast enough for lenders.
The federal agencies said in a recent statement that “guidance does not have the force and effect of law,” but two trade groups say that standard should be more binding.
The assessment is designed to get banks on the same page in combating cybersecurity and make it easier for institutions and regulators to assess their performance.
Frank Sorrentino, CEO of ConnectOne, says bankers who are unwilling, or unable, to invest in technology upgrades may have to find buyers as competition heats up.
Jeff Szyperski wants regulators to update the definitions of assessment areas under the Community Reinvestment Act, and remove 'arbitrary' asset thresholds from bank regulation in general.
A former employee of the banking trade group is accusing some of its executives of allegedly creating a “boy’s club” atmosphere that discriminated against women and minorities on staff.
Credit unions won't have to comply with the controversial rule until at least 2020, but a separate proposal on alternative capital could raise the ire of banking groups.
