ABA: Report Shows Credit Card Spending Rebound in Third Quarter of 2020 as Record Number of Consumers Pay Balance in Full

Despite persistent challenges from the pandemic-induced recession, the credit card market continues to show resilience, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Monthly purchase volumes rebounded strongly across risk groups in the third quarter of last year even as the ratio of credit card credit […]

ABA: Foundation Launches 2021 Financial Education Campaign, Unveils New Free Resources for Banks

New materials will help banker volunteers lead virtual and in-person lesson plans for their communities The American Bankers Association Foundation today launched its 2021 financial education campaign and called on America’s banks and their more than two million employees across the nation to participate in this innovative, industry-wide effort to […]

ABA: Banks Accepting Entries for ABA Foundation’s Annual Lights, Camera, Save! Teen Video Contest

Banks across the nation are now accepting entries for the American Bankers Association Foundation’s 11th annual Lights, Camera, Save! video contest. The national contest encourages teens ages 13-18 to get creative and educate their peers on the benefits of sound money management. Winners are eligible for cash prizes up to $5,000. Teen […]

OCC: Fair Access Rule Put on Hold

The Office of the Comptroller of the Currency (OCC) today announced it has paused publication of its rule to ensure large banks provide all customers fair access to their services. The agency proposed the rule in November 2020 to codify more than a decade of OCC guidance stating that banks should conduct […]

OCC: Final Rule Requiring Large Banks to Provide Fair Access to Bank Services, Capital, and Credit Effective April 1, 2021

The Office of the Comptroller of the Currency (OCC) today released its finalized rule to ensure fair access to banking services provided by large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations. The rule codifies more than a decade of OCC guidance stating that […]

CFPB: Taskforce on Federal Consumer Financial Law Releases Its Report

The Consumer Financial Protection Bureau (Bureau) Taskforce on Federal Consumer Financial Law (Taskforce) released a report today with recommendations on how to improve consumer protection in the financial marketplace. The Taskforce Report uses five interrelated principles that serve as the foundation for proposed systematic changes to the current legal and regulatory […]

FDIC: New 2020 Community Banking Study Released

The Federal Deposit Insurance Corporation (FDIC) today released a new large-scale study on the state of the nation’s community banks. The FDIC’s 2020 Community Banking Study finds community banks played a critical role in providing access to credit in several key areas of the U.S. economy, particularly through lending to support commercial […]

FDIC: Final Rule on Brokered Deposits and Interest Rate Restrictions Approved

The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final rule to establish a new framework for analyzing whether deposits made through deposit arrangements qualify as brokered deposits, including those between insured depository institutions (IDIs) and third parties, such as financial technology companies.  The final rule also […]

ABA: National Survey Shows 99 Percent of Consumers Give High Marks to Their Bank’s Online and Mobile Experience

Ninety-nine percent of consumers rated their bank’s online and mobile app experience as “excellent,” “very good,” or “good,”—4 percentage points higher than last year’s record mark—according to a national survey conducted by Morning Consult on behalf of the American Bankers Association. In addition, 84% of those surveyed said innovation and […]