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Survey: Consumers stress free checking as important feature in bank choice

Bethpage Federal Credit Union, New York’s largest credit union, released a study earlier this month that revealed that consumers increasingly stress the importance of free checking with no hidden fees when choosing where to bank. The credit union commissioned the study to determine the impact of the institution’s 2011 Bank Transfer Day, a... Read More...

ICBA petition against implementation of Basel III rules gains nearly 17,000 signatures

The Independent Community Bankers of America's petition against the implementation of Basel III capital rules on community banks has gained the support of nearly 17,000 community bankers and their affiliates. The petition to the Federal Reserve Board, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp.... Read More...

UBS announces involvement in Singapore investigation into rate manipulation

UBS announced on Tuesday that it is currently under investigation in Singapore for possible manipulation of the London interbank offered rate and other benchmark rates. In its third-quarter earnings report, UBS said that the Monetary Authority of Singapore, as well as authorities in Switzerland, the U.K. and U.S., are investigating whether the... Read More...

ABA expresses concern regarding impact of Basel III on mutual institutions’ ability to lend

The American Bankers Association expressed concerns in a letter last week regarding the impact of Basel III rules on mutually chartered institutions. In a letter to the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corp., the ABA said that the “mutual is one... Read More...

NCUA extends comment period on proposal to expand definition of “small” credit union

The National Credit Union Administration has extended the comment period on a proposal that would broaden the definition of “small” credit unions to include institutions with less than $30 million in assets. The proposal, unveiled by the NCUA board last month, would not only lighten the regulatory burden on small credit unions but would... Read More...

Former Mo. AG Simon: State attorneys general “courageous” for challenging Dodd-Frank

Last month, three states joined in a lawsuit challenging the constitutionality of the 2010 Dodd-Frank Act, demonstrating the role of state attorneys general in pushback against the federal government. Ammon Simon, policy counsel at the Judicial Crisis Network and the former assistant attorney general of Missouri, however, criticized... Read More...

Oklahoma Banker Association: Dodd-Frank burdensome for community banks

The Oklahoma Banker Association recently said that federal banking regulations aimed at America’s largest banks will prove to be a detrimental burden on community banks. Representatives from the OBA said that many small banks will consolidate as a result of the regulatory burden and reduce lending to communities. “Oklahoma is... Read More...

Durbin slams Parkmobile for Durbin Amendment rate increases

Sen. Dick Durbin (D-Ill.) criticized Parkmobile on Friday after the company notified customers of a rate increase resulting from the Durbin Amendment drafted by Durbin and included in the 2010 Dodd-Frank Act. “Your company’s email and press release incorrectly blame the Durbin Amendment for increasing your processing fees,” Durbin... Read More...

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