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December 2017
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December 19, 2017
Week of Dec. 19
In This Issue… • Greetings from Guy • House, Senate leaders release text of final tax reform bill • House Financial Services Committee advances several industry-supported bills • Information courtesy Compliance Alliance … • OBA education corner …
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December 19, 2017
Voters support taxing large credit unions
The following information shows the result of a recent poll conducted by Morning Consult, The poll was conducted at the request of the American Bankers Association. Here are the results: 1. Voters are largely not aware of the fact that credit unions pay no federal income tax; 2. It is not appropriate for a tax-exempt industry to spend millions of …
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December 16, 2017
Senate Banking Committee approves regulatory relief bill
Late Tuesday afternoon, the Senate Banking Committee voted to advance S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act to the full Senate for consideration. It was a strong bipartisan vote: 16-7, including four of the 11 Democrats on the Committee. “A small group of us began working on this concept about four years ago or so,” said …
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December 12, 2017
Week of Dec. 12
In This Issue… • Let our senators know to support reg relief bill • House Financial Services Committee mark-up today • California wildfires continue to rage; CBA asks for help • OBA education corner …
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December 11, 2017
FHN Financial
FHN Financial is an industry leader in fixed income sales, trading, and strategies for institutional customers in the US and abroad. We also provide investment services and balance sheet management solutions. With an average daily trading volume of $6.4 billion, FHN Financial transacts business with approximately 45% of all US banks with portfolios over $100 million.1 Learn more at www.fhnfinancial.com. …
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December 7, 2017
Senate Banking Committee approves reg relief package – S. 2155
Late Tuesday (Dec. 5) afternoon, the Senate Banking Committee voted to advance S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act to the full Senate for consideration. It was a strong bipartisan vote: 16-7, including four of the 11 Democrats on the Committee. “This is the first regulatory relief effort to make it out of Committee since Dodd-Frank was enacted in …
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December 7, 2017
Credit Union Sues President Trump Over Mulvaney Appointment
In case you missed it, Lower East Side People’s Federal Credit Union filed suit against the President and Acting CFPB Director, Michael Mulvaney, alleging that Mulvaney’s appointment violates the constitution. The credit union has $55 million in total assets. It’s CEO alleges that Deputy Director Leandra English is the proper and only lawful Acting Director of this massive regulatory agency that is not …
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December 6, 2017
Mulvaney Begins Process to Reign in Consumer Bureau
As you know by now, there’s good news for community bankers at the CFPB: In addition to the fact that Richard Cordray is no longer the Director of the Consumer Financial Protection Bureau, (he has just announced his long-anticipated candidacy for Governor of Ohio), it seems pretty clear that the President’s selection of Mick Mulvaney as Acting Director is going …
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December 6, 2017
Hoenig On Board With Reg Relief Package; Suggests Tweaks
Statement of Tom Hoenig, FDIC Vice Chairman on the action by the Senate Banking Committee moving S. 2155 to the full Senate. I am pleased that the Senate Banking Committee has advanced the regulatory relief debate with approval of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. The underlying goal of the legislation is one I have long advocated: easing …