ABA: Banks Submit Recommendations on Treasury’s Implementation of the GENIUS Act
The American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Financial Services Forum and The Clearing House Association responded late yesterday to a U.S. Department of the Treasury Advance Notice of Proposed Rulemaking on its implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) Act. The submission asks Treasury to develop regulations that…
ABA: ABA and 52 State Banking Associations Urge Treasury to Uphold GENIUS Act’s Ban on Stablecoin Interest
The American Bankers Association joined 52 state bankers associations from across the country in submitting a letter to the U.S. Department of the Treasury today urging strong implementation of the GENIUS Act’s prohibition on interest for payment stablecoins. The letter, which responds to Treasury’s advance notice of proposed rulemaking regarding implementation of the GENIUS Act, emphasizes the…
ABA: Business Associations Issue Statement on Government Shutdown
Today, a broad cross-section of business associations issued the following statement: “Government shutdowns impose real, escalating costs. While exact figures vary, public estimates of the current funding lapse suggest $10 billion–$15 billion per week in lost output and economic activity. The longer the shutdown persists, the larger and more durable the economic damage becomes —…
ABA: Statement Issued on Court Ruling to Halt Compliance and Enforcement of CFPB Data Sharing Rule
“The U.S. District Court’s decision to stay compliance with the Consumer Financial Protection Bureau’s Section 1033 rule affirms the serious concerns raised by ABA and other stakeholders regarding the rule’s legal foundation, scope and impact on consumer privacy and data security. The court’s decision provides a necessary pause for the Bureau to engage meaningfully with…
ABA: ABA Commends FCC on Proposals to Strengthen Fraud Protections and Modernize Calling Rules
“We commend Chairman Carr and the FCC for taking this important step forward in the fight against fraud. It is too easy for fraudsters to spoof real bank names on Caller ID, and today’s FCC vote advancing a proposal to strengthen the call authentication framework will help protect consumers and legitimate businesses. We look forward…
ABA: ABA Calls on CFPB to Suspend Data Sharing Rule Compliance Dates and Undertake Major Revisions
The American Bankers Association today submitted a detailed comment letter in response to the Consumer Financial Protection Bureau’s Advance Notice of Proposed Rulemaking regarding the reconsideration of the Personal Financial Data Rights rule under Section 1033 of the Dodd-Frank Act. In the letter, ABA commends the CFPB’s leadership for recognizing the need to revise the November 2024…
ABA: New Survey Finds Americans Highly Value Their Credits Cards, Oppose Policy Changes that Threaten Card Reward Programs
A new survey conducted by Morning Consult on behalf of the American Bankers Association found that a strong majority of U.S. consumers are happy with their credit cards and do not want the government to interfere with their cards’ rewards programs. The survey, unveiled on the second day of ABA’s 2025 Annual Convention in Charlotte, N.C., also…
ABA: Officers and Board Elected for 2025-2026
Members attending the American Bankers Association’s annual convention in Charlotte, N.C. have elected new ABA officers and directors to serve on ABA’s board for the 2025-2026 association year. The new officers are: Beginning new terms on the ABA board are: The above board members will join ABA President and CEO Rob Nichols, who also serves…
ABA: First Independence Bank Chairman and CEO Kenneth Kelly Elected as New ABA Chair
The American Bankers Association today announced the election of Kenneth Kelly as its chair for the 2025-2026 association year at ABA’s annual convention held in Charlotte, N.C.. Kelly is chairman and CEO of First Independence Bank in Detroit, Michigan, one of the nation’s largest minority depository institutions. Since Kelly assumed leadership at First Independence Bank…
ABA: New National Survey Finds US Consumers Rank Banks Above Other Industries for Fraud Protection, Support Consistent Rules for Data Sharing
Poll also finds consumers are happy with their bank U.S. adults overwhelmingly trust banks more than any other entity to protect them from fraud, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. By more than a 6-to-1 margin over the next closest industry, consumers chose banks (50%)…