ABA: ABA Applauds Senate Disapproval of CFPB’s Overdraft Rule
“We applaud today’s Senate passage of the Congressional Review Act resolution nullifying the CFPB’s unlawful overdraft rule and thank Senate Banking Committee Chairman Tim Scott for his leadership on this important issue. “Without access to overdraft protection, many Americans would be driven to less regulated and higher risk non-bank lenders to cover unexpected or emergency…
ABA: New Survey Shows Strong Majority of Americans Value Overdraft Protection and Want It to Remain an Option
As Congress considers resolutions nullifying the CFPB’s recent Overdraft Rule, new Morning Consult data shows how much Americans appreciate current overdraft protection programs With lawmakers considering Congressional Review Act resolutions that would nullify a controversial CFPB Overdraft rule that would effectively end overdraft protection as we know it, a new national survey conducted by Morning…
ABA: ABA Welcomes White House Executive Order Phasing Out U.S. Treasury Paper Checks
“We welcome President Trump’s executive order mandating that the federal government cease issuing paper checks for all disbursements, including government benefits and tax refunds. Despite a continued decline in business and consumer use of checks, check fraud has continued to rise. That is why ABA and banks across the country launched the #PracticeSafeChecks campaign last October to…
OCC: Agency Clarifies Bank Authority to Engage in Certain Cryptocurrency Activities
The Office of the Comptroller of the Currency (OCC) today took action to reaffirm that a range of cryptocurrency activities are permissible in the federal banking system. The OCC published Interpretive Letter 1183 to confirm that crypto-asset custody, certain stablecoin activities, and participation in independent node verification networks such as distributed ledger are permissible for…
ABA: ABA Applauds Vote to Invalidate CFPB Overdraft Rule
“We applaud the House Financial Services Committee’s vote to invalidate the CFPB’s misguided overdraft rule and look forward to seeing the House consider the resolution soon. The Bureau’s rule was flawed and unlawful from the start, and went against the wishes of a strong majority of Americans who have repeatedly indicated that they value and appreciate overdraft…
ICBA: ICBA Commends FDIC for Rescinding Proposed Rules on Brokered Deposits, Corporate Governance, Incentive-Based Compensation
The Independent Community Bankers of America (ICBA) today commended the Federal Deposit Insurance Corp. board of directors for withdrawing three ICBA-opposed proposed rules that would harm community banks and the communities they serve. As advocated by ICBA, the FDIC today announced it is withdrawing proposals to: “ICBA and the nation’s community banks commend the FDIC board of…
FDIC: Board of Directors Withdrawn Four Outstanding Proposed Rule
The Federal Deposit Insurance Corporation’s (FDIC) Board of Directors today approved the withdrawal of three outstanding proposed rules relating to brokered deposits, corporate governance, and the Change in Bank Control Act (CBCA). The FDIC is also withdrawing authority for staff to publish in the Federal Register a proposed rule related to incentive-based compensation arrangements. If the FDIC…
ABA: Survey Finds that 53% of Banks are Satisfied with Their Core Platform Provider
Despite low satisfaction only 1-in-5 expect to switch providers A new American Bankers Association survey of banks and core platform providers released at ABA’s 2025 Conference for Community Bankers finds that just over half (53%) of bankers are “extremely” or “somewhat” satisfied with their core platform provider, the critical outside vendors that typically provide the technology backbone…
ABA: Foundation and U.S. Postal Inspection Service Release New Infographics for Consumers and Businesses on Money Mules, Check Fraud
Identification and prevention tips part of ongoing awareness campaign to help individuals and small businesses avoid scams perpetrated through the U.S. mail The American Bankers Association Foundation and the United States Postal Inspection Service today released two new infographics on money mule scams and check fraud as part of their shared ongoing initiatives to protect…
FDIC: Statement from Acting Chairman Travis Hill
On January 20, 2025, Travis Hill became Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Acting Chairman Hill issued the following statement: “It is my honor and privilege to serve as Acting Chairman of the FDIC. While the FDIC faces a broad range of issues, and as always will fulfill our mandate to promote a…