Academic journal article ABA Banking Journal

ABA Actions

Academic journal article ABA Banking Journal

ABA Actions

Article excerpt

ABA's been up to much more than just fighting the BIF/SAIF/FICO fight. Here's a summary of recent activity. ABA.'

* Provided detailed input to the Federal Reserve on amendments proposed to Regulation E, dealing with stored value cards.

* Told the Farm Credit Administration that the ABA/Independent Bankers Association of America joint proposal for bank access to the Farm Credit System's facilities would do far more for the nation's farmers than the FCA's proposal to expand its Other Financing Institutions program.

* Testified to Congress that consumer delinquencies don't pose a serious threat to the industry. "In fact," ABA stated, "if the banking industry wrote off every dollar of every nonperforming loan--both consumer and business loans--there would still be $23 billion in reserves left over, without even touching the $365 billion in bank capital."

* Filed a brief with four other co-sponsors in Kaplan v. Office of Thrift Supervision, a director liability case.

* Endorsed the Federal Reserve's proposal to ease restrictions on Section 20 companies through its affiliate, the ABA Securities Association. …

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