ABA Banking Journal - January 2013 - (Page 40)
AMERICAN BANKERS ASSOCIATION
At Your Service
ABABJ: What’s ahead for the DoddFrank mortgage reforms in 2013?
Bob Davis: The Dodd-Frank Act mandates final rules on several issues by
Jan. 21, including ability to repay and
“qualified mortgages,” servicing, highcost mortgages, appraisals and disclosures, and loan originator compensation. Revised RESPA and TILA reforms
will also follow a bit later in the year.
There are thousands of pages of regulations that are all going to hit at once with
as little as one-year implementation.
ABABJ: What is ABA doing?
BD: We’ve asked for 18 months of implementation. It’s really going to be difficult for banks and their related service
providers to comply. The sheer complexity means interpretations, which
makes implementation all the more difficult. The rules are not independent of
one another. We have to identify what
works together and what needs to
change. For the past year, we’ve had
bankers meeting weekly on these challenges. This year, we’ll be providing online summaries of the rules for bankers,
as well as webinars and teleconferences, while continuing to work with bankers to drive advocacy efforts with the
regulators and members of Congress.
Questions? E-mail them to Bob at
40 | ABA BANKING JOURNAL | January 2013
ABA Urges Bankers to Attend Government Relations Summit
ABA is urging banking industry leaders to plan now to attend the association’s Government Relations Summit, April 15-17, in Washington, D.C.
The Summit has become the industry’s largest advocacy event in the nation’s capital, and this year’s meeting is considered especially important given the high-impact
issues, such as housing finance reform, facing the new Congress.
The conference—which last year attracted more than 1,100 bank CEOs, directors
and employees—offers bank representatives the opportunity to hear detailed briefings
from Washington insiders. Attendees also will meet personally with policymakers to
educate them on the vital role banks play in the economy and to advocate for policy
changes that support banking.
Registration for the Summit is free. For more information and to register,
visit aba.com/Summit. n
ABA Adopts 2013 Government Relations Priority Policy Positions
Reform of the Dodd-Frank Act and the Consumer Financial Protection Bureau, repeal
or reform of the Volcker Rule, changes to the Basel III capital proposals, reinvigoration
of prudent mortgage lending, reform of Fannie Mae and Freddie Mac, and ending the
credit union free tax ride are among ABA’s Government Relations action priorities for
the new year.
The priorities are developed by bankers serving on ABA’s Government Relations
Council Administrative Committee. The ABA Board of Directors considered and adopted the 2013 priority policy positions on Dec. 5.
To view all of ABA’s 2013 priority policy positions, go to aba.com/Issues/Pages/
Federal Reserve policy targets
Fed policy will remain accomodative as long as unemployment remains
above the 6.5% target and inflation remains anchored
Source: University of Michigan, BLS
Table of Contents for the Digital Edition of ABA Banking Journal - January 2013
ABA Banking Journal - January 2013
ABA COMMUNITY BANKING Time to prune that branch?
Pass the Aspirin
COVER STORY: The road ahead How banking may fare in Washington
Insurance: How well are you covered?
Compliance Special Report
ABA At Your Service
ABA Banking Journal - January 2013