ABA: ABA, Federal Reserve and OCC Leaders to Address Community Bankers at ABA Conference; Livestream Available February 17th and 18th
ABA President and CEO Rob Nichols, ABA Chair and Atlantic Union Bankshares CEO John Asbury, Federal Reserve Governor Michelle Bowman, San Francisco Fed President Mary C. Daly and Acting Comptroller of the Currency Rodney E. Hood will address community bankers from across the country at the American Bankers Association’s Conference for Community Bankers next week in Phoenix….
ICBA: CFPB’s 1071 Rule Again Paused by Court
A U.S. court of appeals temporarily paused the Consumer Financial Protection Bureau’s 1071 small-business rule and extended its compliance deadlines until further notice, as advocated by ICBA. Court Ruling: The U.S. Court of Appeals for the Fifth Circuit granted a request by ICBA and other plaintiffs to suspend implementation of the rule pending their ongoing legal…
HUD: Secretary Turner Halts Enforcement Actions of HUD’s Gender Identity Rule
Secretary Turner issued an order directing the U.S. Department of Housing and Urban Development (HUD) to halt any pending or future enforcement actions related to HUD’s 2016 rule entitled “Equal Access in Accordance With an Individual’s Gender Identity in Community Planning and Development Programs.” Secretary Turner’s action will ensure housing programs, shelters and other HUD-funded providers offer…
OCC: Rodney E. Hood Announced as Acting Comptroller of the Currency
Today, the U.S. Department of the Treasury announced the appointment of Rodney E. Hood as Acting Comptroller of the Currency, effective February 10, 2025. U.S. Secretary of the Treasury Scott Bessent designated Mr. Hood pursuant to his authority in 12 U.S.C. 4. “I am grateful for the trust of Secretary Bessent and will work diligently…
FEMA: One Month Later, Federal Support for Wildfire Survivors Nears $700 Million
On January 7, when wildfires first struck Los Angeles County and adjacent areas, more than 200,000Californians were evacuated. State and local governments responded quicky to fight the blazes, employing more than 2,000 pieces of firefighting equipment – 80-plus aircraft, 200-plus bulldozers and more – which were soon bolstered by the governor’s activation of 2,500 National Guard troops and a request for a federal disaster declaration. …
HUD: Scott Turner Confirmed as Secretary of Housing and Urban Development
Today, Scott Turner was confirmed by the United States Senate to be the 19th Secretary of the U.S. Department of Housing and Urban Development (HUD). Secretary Turner was confirmed by a bipartisan vote of 55-44 and sworn in by Associate Justice of the United States Supreme Court, the Honorable Clarence Thomas. “I am honored and…
FDIC: Documents Released Related to Supervision of Crypto-Related Activities
Today, the Federal Deposit Insurance Corporation (FDIC) released 175 documents related to its supervision of banks that engaged in, or sought to engage in, crypto-related activities. Acting Chairman Travis Hill issued the following statement in connection with the release: “I have been critical in the past of the FDIC’s approach to crypto assets and blockchain….
Federal Reserve: Governor Bowman Delivers Speech on Bank Regulation in 2025 and Beyond
At the Kansas Bankers Association Government Relations Conference, Topeka, Kansas Speech Text Follows: Thank you for the invitation to speak to you today.1 It is a pleasure to be with you. I always enjoy the opportunity to meet bankers from across the country to learn about the issues that are important to you. Recently, I have…
ABA: Banks and Credit Unions Issue Joint Letter Highlighting Harm Credit Card APR Cap Legislation Would Have on Consumers
Seven leading financial groups that represent banks and credit unions of all sizes today sent a letter to Senators Bernie Sanders (D-Vt.) and Josh Hawley (R-Mo.) to oppose their proposed legislation that would create an annual percentage rate (APR) cap for credit cards at 10 percent. This measure would severely restrict the availability of this type of credit for…
ABA: ABA Offers Congressional Testimony on the Community Banking Landscape
The American Bankers Association today provided testimony to the House Financial Services Committee on the state of U.S. community banking, as well as potential legislative reforms to ensure smaller financial institutions can continue meeting the needs of their customers, clients and communities going forward. Cathy Owen, chair, president and CEO of State Holding Company and executive chair…