Burgess elected as ABA chairman
The American Bankers Association (ABA) elected this week Kenneth L. Burgess, Jr. chairman for the 2017-2018 association year. Burgess, who also serves as the chairman of FirstCapital Bank of Texas,...
Read MoreAuthor: Douglas Clark
Report examines homeowners’ insurance premiums, return on equity
A recently released global professional firm report is forecasting continued growth in direct homeowners' insurance premiums for 2017 despite a decreasing return on equity (ROE) for insurers. The A...
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TAILOR Act advances to House floor
The Taking Account of Institutions with Low Operation Risk (TAILOR) Act has garnered approval from the House Committee on Financial Services and advanced to the House floor. Rep. Scott Tipton (R-CO...
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Bill seeks to amend Fair Credit Reporting Act
Rep. Patrick McHenry (R-NC) recently introduced a measure designed to amend the Fair Credit Reporting Act by allowing national security freezes for consumer files and credit records. The Promoting ...
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Report notes decreased third quarter foreclosure activity
ATTOM Data Solutions released a report this week revealing that third-quarter foreclosure activity is down 13 percent from the previous quarter and 35 percent from a year ago. The Q3 2017 U.S. Fore...
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Poll shows Americans believe tax reform measure a top priority
A national poll released Wednesday showed that Americans believe passing a tax reform bill should be a top priority for Congress. Polling conducted by Morning Consult for the Financial Services Rou...
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Survey examines consumer payment safety reliance
Results of a survey released this week found that 59 percent of Americans trust banks most to keep their payments safe. Morning Consult, which conducted the survey on behalf of the American Bankers...
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Bill seeks to enhance mortgage disclosures
Rep. French Hill (R-AR) introduced last week a bill to modify mortgage disclosure requirements while offering clarification to consumers and regulatory relief to financial institutions. Hill said ...
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Maust to chair ABA’s Community Bankers Council
The American Bankers Association (ABA) has elected Trey Maust as Community Bankers Council chairman for the 2017-2018 association year. In his role as chairman, Maust, who is currently co-president...
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SBTC expresses opposition to House legislation
The Small Business Technology Council (SBTC) is expressing opposition to a bill the group said would divert money away from the Small Business Technology Transfer (STTR) program. SBTC officials re...
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GAO assesses fraud prevention system for Centers for Medicare & Medicaid Services
The Government Accountability Office (GAO) said the Centers for Medicare & Medicaid Services (CMS) Fraud Prevention System accounted for 20 percent of fraud investigations in 2015 and 2016. In its...
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Tool to aid new accounting standards preparation
The Conference of State Bank Supervisors (CSBS) recently unveiled an optional tool to help financial institutions prepare for new accounting standards that will change how banks calculate credit losse...
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Lawmakers assess 10,000 Small Businesses program
A group of legislators recently conducted a roundtable discussion regarding private sector entrepreneurial development programs and the 10,000 Small Businesses initiative. House Small Business Comm...
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Measure seeks to protect investors, advice options
Rep. Ann Wagner (R-MO) recently introduced a bill designed to provide investors access to affordable investment products and financial advice. Wagner said the Protecting Advice for Small Savers (PA...
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Survey reveals consumer financial struggles
Results of the recently released Consumer Financial Protection Bureau (CFPB) survey on the financial well-being of American consumers revealed more than 40 percent struggle to make ends meet. CFPB...
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Report examines Millennial retirement preparations
An Insured Retirement Institute (IRI) report reveals more than half of Millennials are making contributions to 401(k) accounts and four in ten are contributing to personal savings with an eye toward r...
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Financial Services Institute, Truelytics form partnership
Financial Services Institute (FSI) officials said they have formed a partnership with Truelytics to ensure member access to advanced, timely and cost-effective valuation and business intelligence soft...
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Poll shows banking preferences vary generationally
A survey conducted on behalf of the American Bankers Association (ABA) recently noted that generations have different banking tendencies. Officials said the survey was conducted by Morning Consult,...
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Measure extends term of FSOC independent member
The Senate has passed a bill extending the term of the Financial Stability Oversight Council (FSOC) independent member with insurance expertise. Officials said the Financial Stability Oversight Cou...
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Pilot project targets small business capital access, expansion efforts
A pilot program designed to help small businesses gain access to capital and expand operations has been included in the National Defense Authorization Act (NDAA). Sens. Cory Booker (D-NJ) and Kirst...
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