ABA: America’s Banks Urged to Adopt Mask Policy
In light of the continuing health threat posed by the COVID-19 pandemic, the American Bankers Association is urging banks across the nation to adopt a policy requiring anyone who enters a branch to wear a mask or face covering to protect the health of bank employees and customers. Requiring the use of masks and face…
ABA: Foundation Highlights Housing Relief Resources in Recognition of American Housing Month
In the wake of the COVID-19 pandemic, millions of Americans have found themselves facing financial hardship and struggling to make monthly housing payments. While relief options are available to homeowners and renters alike, it can be difficult to know where to look for information. To help consumers navigate this challenging situation, and in recognition of…
ABA: Bank Economists See Recovery from Deep Recession Beginning in Third Quarter 2020
The U.S. economy will experience about a 6% contraction this year, but will begin to recover from a severe second-quarter downturn in the third quarter, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. While the group, made up of 16 chief economists from some of the North America’s largest banks,…
ABA: Consumer, Banking Groups Applaud Bill to Exempt Economic Impact Payments from Garnishment
Consumer groups and banking industry organizations joined together today to support bipartisan legislation that would prevent Economic Impact Payments from being subject to garnishment. The following statement was issued today by the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, The Clearing House, National Consumer Law Center (on behalf of its low income clients),…
ABA: Statement on OCC’s CRA Final Rule
“The modernization of CRA’s outdated rules is long overdue, and we are very grateful to Comptroller Otting and the OCC staff for their commitment to this important effort. Stakeholders on all sides have acknowledged that the current CRA regime has failed to keep pace with the evolution of banking and community needs. We appreciate that…
ABA: Report Shows More Consumers Paid Credit Card Balances in Full Amid Rising Card Use in Fourth Quarter 2019
Even as credit card use increased in the fourth quarter of 2019, a record share of consumers paid off their bill in full each month, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Seasonally adjusted monthly purchase volumes rose compared to the previous quarter, particularly among super-prime (+4.0%) and prime (+2.9%) accounts,…
ABA: Foundation Encourages Banks to Submit Nominations for Annual Community Commitment Awards
The ABA Foundation is seeking submissions for its eighth annual Community Commitment Awards. The awards, one of the industry’s highest honors for extraordinary bank commitment to communities, recognizes innovative, high-impact programs that improve the quality of life for the customers and communities banks serve. The entry period ends July 1. “Now more than ever, America’s banks…
ABA: Strategic Partnerships Announced to Strengthen Minority Depository Institutions
The American Bankers Association (ABA) and the National Bankers Association (NBA) today announced that the organizations have joined together in a strategic partnership to promote the health and well-being of minority depository institutions (MDIs). This partnership will build on existing membership overlap and enable NBA and ABA members to work collaboratively on a variety of…
ABA: Consumer, Banking Groups to Congress Request that Economic Impact Payments Be Exempt from Garnishment
In a letter to congressional leadership today, consumer and banking industry organizations joined together to urge lawmakers to clarify at the earliest possible opportunity that economic impact payments issued by the federal government in response to the coronavirus pandemic should be exempt from otherwise legally binding garnishment orders. “Congress passed the CARES Act to help families purchase…
ABA: Bankers Celebrate Financial Capability Month by Taking Teach Children to Save Online
While schools may be closed due to COVID-19, bankers across the country are finding new and innovative ways to share the Teach Children to Save program this year, including virtual financial education lessons for children across the nation. Since 1997, the ABA Foundation’s financial education initiatives have reached 11.1 million young people through more than…