February 2010
New Overdraft Rules Looming: What Are They and How Do You Comply?
By John Ginovsky
It all started with a $3 cup of coffee paid for with a debit card that ended up costing a consumer $25, because the bank added an automatic overdraft fee without disclosing it beforehand. That scenario happened so many times, and so many consumers cried foul, the Federal Reserve stepped in and wrote a new, highly detailed and broadly applicable rule that will take effect July 1. Officials from the Federal Reserve and ABA provide practical advice on how to comply. More >>
Legislative/Regulatory Roundup
By ABA Staff
Regulators respond to ABA concerns; address 'overzealous examiner' issue … Major search underway for graduates of Stonier National Graduate School of Banking … Treasury reviews progress of financial stability plan … Final rule to improve AML, terrorist financing info-sharing … Executives question need for initiatives to limit large banks … Oversight panel paints misleading picture of community bank health ... More >>
Future Premium Assessments: NCUSIF vs. FDIC
By Keith Leggett
National Credit Union Administration Chairman Deborah Matz was asked recently whether credit unions should consider avoiding future NCUA premium assessments by converting to a bank or thrift charter. She responded that NCUA's assessments are miniscule compared to FDIC premium assessments. She also made a huge point about banks prepaying three years of assessments in December. Wait a minute. More >>
Teach Children to Save 2010: New Year, New Ideas, Same Mission
By Laura Fisher
Ah, spring. Only a few short months until warmer weather, longer days, explaining compound interest to 20 giggly sixth-graders. Yes, Teach Children to Save Day is upon us again -- Tuesday, April 27 to be exact. New this year, four high-achieving Teach Children to Save banks will win $1,000 donations for their local schools or youth groups. More >>
For 2010: Get Back on Feet, Dust Off, Gear Up
By John Ginovsky
Even the sourest economists admit that 2010 will be better than 2009, if not extraordinarily so. How should bankers approach the New Year and new opportunities? More >>
Parting Words
"Here the bosses are saying, 'Don't straitjacket banks' ability to lend to their good customers.' ABA and our members have been beating this drum long and loud and we're pleased to know the message has been received."
-- ABA EVP Wayne Abernathy, regarding the statement by federal regulators on overzealous examiners.
