As the year enters the final stretch, banking advocates are voicing their concerns and hopes for future policy positions they argue will benefit both the financial marketplace and consumers. These priorities include opposition to certain proposed regulations and recommended changes to regulatory approaches. Learn more in this roundup.
CBA releases 2025 policy priority agenda
The Consumer Bankers Association (CBA) unveiled its policy priority agenda for the coming year, entitled “Vision for America – A Bank Policy Agenda for All.” The agenda describes the retail banking industry’s priorities, perspectives, and positions concerning various consumer-focused financial services policy issues. The trade group accompanied the release with the launch of a website and video to help further illustrate the roadmap it envisions policymakers across the ideological spectrum should follow in recognizing the value banks bring to the U.S. economy, along with their nearly two million employees across the country. Review the agenda on CBA’s website here.
ICBA publishes results of service provider engagement forum
In a concerted effort to provide education about the unique characteristics defining the evolving financial landscape and its impact on community banking, the Independent Community Bankers of America (ICBA) held a forum with various preferred service providers (PSPs) covering the implications of a number of policy changes and technological innovations for the customers and communities served by community banks. During the forum, experts shared details about the challenges and opportunities community banks face, as well as ICBA’s top priorities when it comes to helping empower PSPs to engage with community banks more effectively and with greater relevance. Get an in-depth look at the results of the forum here.
MBA report demonstrates impact of seasonal adjustments in data
The Mortgage Bankers Association’s (MBA) latest Weekly Mortgage Applications Survey indicated a 1.7 percent increase in applications on a seasonally adjusted basis during the week ending Nov. 15. Demonstrating the impact of seasonal adjustments, the Market Composite Index, the association’s tool for measuring mortgage loan application volume, indicated a 1 percent decrease in applications compared to the previous week. The Refinance Index and the Purchase Index both jumped 2 percent on a seasonally adjusted basis. The unadjusted Purchase Index was 3 percent lower compared with the previous week. Read more analysis here.
Trades challenge legality of FDIC brokered deposits proposed rule
Numerous trade associations representing banks of varying sizes and business models questioned the legality of the Federal Deposit Insurance Corp.’s proposed rule on brokered deposits with respect to the Administrative Procedure Act. If adopted without significant changes, the industry advocates argue the rule would be “arbitrary and capricious on several grounds.” The groups claim the agency failed to justify the considerable costs it would impose on financial institutions by lumping together different types of deposits under the term “brokered” without any meaningful analysis of the underlying business models used by third parties which place their customers’ deposits with banks. Access the full comment letter here.