Newsbytes | ABA Banking Journal https://bankingjournal.aba.com/category/newsbytes/ Fri, 22 May 2026 21:52:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 FDIC proposes Bank Secrecy Act, sanctions requirements for stablecoin issuers https://bankingjournal.aba.com/2026/05/fdic-proposes-bank-secrecy-act-sanctions-requirements-for-stablecoin-issuers/ Fri, 22 May 2026 21:45:05 +0000 https://bankingjournal.aba.com/?p=65669 The FDIC proposed a new rule to establish Bank Secrecy Act and sanctions compliance standards for stablecoin issuers regulated by the agency.

The post FDIC proposes Bank Secrecy Act, sanctions requirements for stablecoin issuers appeared first on ABA Banking Journal.

]]> ABA, plaintiffs urge court to overturn Illinois interchange fee law https://bankingjournal.aba.com/2026/05/aba-plaintiffs-urge-court-to-overturn-illinois-interchange-fee-law/ Fri, 22 May 2026 16:29:03 +0000 https://bankingjournal.aba.com/?p=65661 Recent actions by the OCC make clear that federal law preempts an Illinois law restricting interchange fees, so a federal court should reverse its ruling finding otherwise, ABA, the Illinois Bankers Association and other plaintiffs said in a new legal filing.

The post ABA, plaintiffs urge court to overturn Illinois interchange fee law appeared first on ABA Banking Journal.

]]> Warsh sworn in as Federal Reserve chair https://bankingjournal.aba.com/2026/05/warsh-sworn-in-as-federal-reserve-chair/ Fri, 22 May 2026 16:15:57 +0000 https://bankingjournal.aba.com/?p=65657 Kevin Warsh was sworn in as chairman of the Federal Reserve during a ceremony at the White House.

The post Warsh sworn in as Federal Reserve chair appeared first on ABA Banking Journal.

]]> HUD to keep tri-merge credit report requirement for FHA loans https://bankingjournal.aba.com/2026/05/hud-to-keep-tri-merge-credit-report-requirement-for-fha-loans/ Fri, 22 May 2026 15:01:32 +0000 https://bankingjournal.aba.com/?p=65654 The Federal Housing Administration will continue to require three credit reports for single-family loans, the U.S. Department of Housing and Urban Development announced.

The post HUD to keep tri-merge credit report requirement for FHA loans appeared first on ABA Banking Journal.

]]> Final: Consumer sentiment falls 5.0 points in May, below 2022 levels https://bankingjournal.aba.com/2026/05/consumer-sentiment-falls-in-may-4/ Fri, 22 May 2026 14:18:36 +0000 https://bankingjournal.aba.com/?p=65649 The University of Michigan Consumer Sentiment Index decreased 10% in May compared to the month prior, landing at 48.8, according to final results for the month. Sentiment was down 14.2% year over year.

The post Final: Consumer sentiment falls 5.0 points in May, below 2022 levels appeared first on ABA Banking Journal.

]]> Survey: Speedy personal loan approvals drive growing customer satisfaction in nonbanks https://bankingjournal.aba.com/2026/05/survey-speedy-personal-loan-approvals-drive-growing-customer-satisfaction-in-nonbanks/ Fri, 22 May 2026 13:49:51 +0000 https://bankingjournal.aba.com/?p=65647 As financially vulnerable customers lean on personal loans to consolidate debt and cover unexpected expenses, nonbank lenders are closing the satisfaction gap with traditional banks, according to a new survey by JD Power.

The post Survey: Speedy personal loan approvals drive growing customer satisfaction in nonbanks appeared first on ABA Banking Journal.

]]> Trump postpones executive order on AI https://bankingjournal.aba.com/2026/05/trump-postpones-executive-order-on-ai/ Thu, 21 May 2026 19:22:47 +0000 https://bankingjournal.aba.com/?p=65638 President Trump postponed signing an executive order on artificial intelligence that would have established a path for the federal government to review AI models before they are publicly released.

The post Trump postpones executive order on AI appeared first on ABA Banking Journal.

]]> ABA, associations recommend CFPB advance with mortgage regulation reforms https://bankingjournal.aba.com/2026/05/aba-associations-recommend-cfpb-advance-with-mortgage-regulation-reforms/ Thu, 21 May 2026 17:04:35 +0000 https://bankingjournal.aba.com/?p=65563 ABA joined four other associations to express support for proposed reforms to the CFPB's regulations of the mortgage industry.

The post ABA, associations recommend CFPB advance with mortgage regulation reforms appeared first on ABA Banking Journal.

]]> Mortgage rates rise https://bankingjournal.aba.com/2026/05/mortgage-rates-rise-31/ Thu, 21 May 2026 16:58:54 +0000 https://bankingjournal.aba.com/?p=65631 The rate for a 30-year fixed-rate mortgage was 6.51% this week. The rate for a 15-year fixed-rate mortgage was 5.85%.

The post Mortgage rates rise appeared first on ABA Banking Journal.

]]> Fed’s Barr: Bank access only one tool for improving consumer financial health https://bankingjournal.aba.com/2026/05/feds-barr-bank-access-only-one-tool-for-improving-consumer-financial-health/ Thu, 21 May 2026 16:42:43 +0000 https://bankingjournal.aba.com/?p=65629 As part of a cross-sector push to improve consumer financial health, financial institutions will need to prioritize creating products and services that help vulnerable customers and commit to measurement and sharing best practices, Federal Reserve Governor Michael Barr said.

The post Fed’s Barr: Bank access only one tool for improving consumer financial health appeared first on ABA Banking Journal.

]]>