ABA: Bank Economists See Return to Full Employment in 2022
Interest Rates to Rise, Inflation to Slow Economic growth will slow relative to last year’s robust pace but remain above long-run potential, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. The EAC consensus forecast also anticipates softer but still elevated inflation in 2022 along with three interest rate increases from…
ABA: Foundation Accepting Donations to Aid Tornado Victims in Kentucky
Acting on a request from the Kentucky Bankers Association, the ABA Foundation will raise funds to assist bank staff hit hard by the storms and aid local relief efforts The American Bankers Association Foundation today announced it will start collecting tax-exempt contributions through its Disaster Relief Program to help aid bank employees directly affected by…
ABA: Report Shows Credit Card Trends in Second Quarter 2021 Suggest Strong Recovery
Credit conditions in the second quarter point to a strong recovery from last year’s recession as U.S. consumer spending continued to expand, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor released today. Monthly purchase volumes increased sharply from the first quarter, surpassing pre-pandemic numbers, while credit card debt as a share…
ABA: Foundation Whitepaper Released on Expanding Financial Service Access for Justice System-Involved Individuals
The ABA Foundation today released a new whitepaper entitled “Strategies to Expand Financial Services Access for Individuals Involved in the Criminal Justice System” that explores common barriers justice system-involved individuals face when trying to gain entry to the financial system following the completion of their sentence. By profiling existing bank initiatives, the report also outlines potential strategies…
ABA: Survey Shows Consumers Give High Marks to their Bank’s Online and Mobile Experience for Second Consecutive Year
Ninety-nine percent of consumers rated their bank’s online and mobile app experience as “excellent,” “very good,” or “good,”—tying last year’s record mark—according to a national survey conducted by Morning Consult on behalf of the American Bankers Association. In addition, 81% of those surveyed said innovation and technological improvements by banks are making it easier for…
ABA: National Survey Results Detailing Bank Efforts to Protect Seniors from Financial Exploitation Released
Banks across the country continue to dedicate extensive resources to protect older customers from financial abuse, according to the 2021 Older Americans Benchmarking Report released today by the ABA Foundation. The biennial report, the most expansive survey of the banking industry’s efforts to protect seniors, captures data on how U.S. banks are protecting and serving their older…
ABA: National Survey Shows that Bank Customers Turn to Mobile Apps More Than Any Other Channel to Manage Their Accounts
COVID-19 accelerated move toward digital banking channels Consumers are conducting their banking via mobile apps more often than any other method, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The national survey found bank customers preferred mobile apps both prior to and following the onset of the…
ABA: Credit Market Expectations for Businesses and Consumers Confirm Solid Economic Outlook
The chief economists of North America’s largest banks expect credit conditions to continue improving for both consumers and businesses over the next six months, according to the American Bankers Association’s latest Credit Conditions Index released today. The latest summary of ABA’s Credit Conditions Index examines a suite of indices derived from the quarterly outlook for credit markets…
ABA: Bank Employees Across U.S. Celebrate Get Smart About Credit Day and Share Financial Knowledge with Students
Bank employees across the country will celebrate the American Bankers Association Foundation’s Get Smart About Credit campaign today and throughout the year by sharing information with teens and young adults on a range of personal finance topics. Get Smart About Credit Day, celebrated annually on the third Thursday of October, is one of three ABA Foundation youth…
ABA: Officers and Board for 2021-2022 Elected
Members attending the American Bankers Association’s annual convention in Tampa, Fla. have elected new ABA officers and directors to serve on ABA’s board for the 2021-2022 association year. The new officers are: CHAIR: A. Scott Anderson, president and CEO, Zions Bank, Salt Lake City; CHAIR-ELECT: Daniel D. Robb, president and CEO, Jonesburg State Bank, Jonesburg,…