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….
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…
Agencies Announce Second Public Outreach Meeting as Part of Their Review of Regulations
Federal bank regulatory agencies will hold a virtual public outreach meeting on March 6, 2025, as part of their review of regulations, as required by law. The Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) requires the agencies, with input from the public, to review their regulations at least once every 10 years to identify…
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the California Wildfires and Straight-Line Winds
The California Department of Financial Protection and Innovation, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the California wildfires and straight-line winds on the customers and operations of many financial institutions and…
Federal Reserve: Chairs and Deputy Chairs of the 12 Federal Reserve Banks Announced for 2025
The Federal Reserve Board on Monday announced the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2025. Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as Chair and a…
Federal Reserve: Michael S. Barr to Step Down as FRB Vice Chair for Supervision on February 28th but Will Continue to Serve as Governor
The Federal Reserve Board announced on Monday that Michael S. Barr will step down from his position as Federal Reserve Board Vice Chair for Supervision, effective February 28, 2025, or such earlier time as a successor is confirmed. Barr will continue to serve as a member of the Federal Reserve Board of Governors. Barr, who…
ABA: Banks and Business Groups File Legal Challenge Against Federal Reserve Over Flawed Stress Testing Framework
The Bank Policy Institute, along with the American Bankers Association, the U.S. Chamber of Commerce, the Ohio Bankers League and the Ohio Chamber of Commerce today announced that they are filing litigation against the Federal Reserve, challenging the opaque aspects of the stress testing framework. While stress testing is an important risk management tool for banks and…
Federal Reserve: Public Comments Sought on Significant Changes to Improve Transparency of Bank Stress Tests
Due to evolving legal landscape & changes in the framework of administrative law, Federal Reserve Board will soon seek public comment on significant changes to improve transparency of bank stress tests & reduce volatility of resulting capital requirements n view of the evolving legal landscape, the Federal Reserve Board will soon seek public comment on…
Agencies Release Annual Asset-Size Thresholds Under CRA Regulations
The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2025 updated Community Reinvestment Act (CRA) “small bank” and “intermediate small bank” asset-size thresholds. The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of meeting the credit needs of its entire community, including…
Agencies Issue Statement on Elder Financial Exploitation
Five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN), and state financial regulators issued a statement today to provide supervised institutions with examples of risk management and other practices that may be effective in combatting elder financial exploitation. Older adults who experience financial exploitation can lose their life savings and financial security and face other…