ABA: Report Shows Consumer Delinquencies Fell in First Quarter 2021

Consumer credit delinquencies fell in the first quarter of 2021 as the economy rebounded strongly, according to results from the American Bankers Association’s latest Consumer Credit Delinquency Bulletin. Overall, delinquencies fell in seven of the 11 loan categories tracked by ABA. The composite ratio, which tracks delinquencies in eight closed-end […]

OCC: First Anniversary of Project REACh Celebrated

Acting Comptroller of the Currency Michael J. Hsu today marked the first anniversary of Project REACh by hosting participants to celebrate the project’s accomplishments and to challenge them to set their sights even higher over the next two years. “Project REACh has generated a great deal of excitement and made […]

Agencies Request Comment on Proposed Risk Management Guidance for Third-Party Relationships

The federal bank regulatory agencies today requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology-focused entities. The proposed guidance is intended to assist banking organizations in identifying and addressing the risks associated with third-party relationships and responds […]

ABA: Statement on Bank On Account Milestone

“We are thrilled to learn that more than 100 financial institutions, including a growing number of America’s banks, now offer low-cost Bank On certified accounts. We congratulate the Cities for Financial Empowerment Fund, which created the Bank On standards, for this important achievement and for the CFE Fund’s ongoing efforts […]

FDIC: “Fintech: A Bridge to Economic Inclusion” Virtual Conference Scheduled for June 29th

June 29th event to address how technology can create greater opportunities The Federal Deposit Insurance Corporation (FDIC) will host a virtual conference on Tuesday, June 29, 2021, to explore how financial technology and innovation can create a more diverse, equitable and inclusive banking system.  Fintech: A Bridge to Economic Inclusion will feature leading […]

ABA: New Report Shows Credit Card Rewards Provide Value to Consumers of All Income Levels, Merchants

New study shows why so many consumers choose to participate in rewards programs Credit card rewards are accessible, valuable, and well-understood by consumers across all income levels according to a new report from the American Bankers Association. ABA examined rewards cards and their value to various participants in the credit card market, […]

FDIC: FDITECH Tech Sprint to Reach More Unbanked People Launched

The Federal Deposit Insurance Corporation today announced a ‘tech sprint’ designed to explore new technologies and techniques that would help expand the capabilities of banks to meet the needs of unbanked individuals and households.  The FDIC‘s tech lab, FDITECH, is launching a first-of-its-kind tech sprint by challenging participants to identify better […]

Agencies Issue Host State Loan-to-Deposit Ratios

Federal bank regulatory agencies today issued the host state loan-to-deposit ratios that are used to evaluate compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year’s ratios from June 2020. By law, a bank is generally prohibited from establishing […]

ABA: Report Shows Addressing Unbanked & Underbanked Challenges Requires Multifaceted Approach

Enhancing existing programs, highlighting no- and low-cost bank account offerings, improving financial education, expanding broadband internet access, and encouraging the opening of bank accounts during government benefit program enrollment will help address the unbanked/underbanked challenge in the United States. A new report, Delivering Financial Products and Services to the Unbanked and […]