Academic journal article ABA Banking Journal

ABA Actions

Academic journal article ABA Banking Journal

ABA Actions

Article excerpt

ABA has recently:

* Orchestrated a postcard campaign enabling bankers by the thousands to object to the beneficial tax status enjoyed by federally-chartered credit unions. This was bolstered by an ABA fact sheet on the issue sent to every member of Congress. (See this month's Editor's Column.)

* Continued its long fight against federal attempts to stick banks with part of the bill for fixing the thrift industry's obligation under the FICO (Financing Corp.) program.

* Supported legislation that would expand holding company authority to make equity investments in small businesses. ABA called Rep. Richard Baker's H.R. 2981 "innovative" and suggested some revisions.

* Told the Fed that Regulation Z disclosures on home-equity credit lines provide more than adequate information to consumers. "In fact," ABA wrote in a comment letter, "we believe that the current volume of information required to be disclosed may overwhelm the consumer to the point of confusion and distraction from the most important terms."

* Urged the Comptroller's Office to leave in place its exemption of national banks from New Jersey's Consumer Checking Account Act.

* Opposed a proposed Fed revision to Regulation B's official commentary that would affect the use of credit scoring systems for applications from prospects of age 62 or older. …

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