TBA Recent News Headlines

Robert Herz, the chairman of the Financial Accounting Standards Board, will retire after eight years leading the group, FASB said yesterday. Board member Leslie Seidman will become acting chairman, effective Oct. 1. Seidman, a FASB member since July 2003, previously managed her own consulting firm, and also served as vice president of accounting policy at J.P. Morgan & Co.
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Community Bankers Association of Kansas President and CEO Shawn Mitchell told Congress that while community banks engage in a variety of financial education efforts, CBAK and ICBA support federal efforts to promote financial literacy. In testimony yesterday before the House Financial Services Subcommittee on Oversight and Investigations, Mitchell noted that ICBA encourages community banks to provide financial literacy services and has forged government, nonprofit and private-sector partnerships, such as with the Jump$tart Coalition and the FDIC Money Smart program.
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Community bankers continue to engage the news media to distinguish Main Street community banks from Wall Street institutions.
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The Federal Reserve is seeking nominations for up to 10 new members to serve on its Consumer Advisory Council, the Fed said yesterday.
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The agreement includes a modification to the strict disallowance of intangible assets in the definition of Tier 1 capital, and a broader definition of qualifying liquid assets.
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In response to bankers' queries, ABA has developed frequently asked questions that address how the Dodd-Frank Act will affect the FDIC's Transaction Account Guarantee Program.
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John Walsh, chief of staff at the Office of the Comptroller of the Currency, will become the acting head of the agency when current Comptroller John Dugan leaves on Aug. 14, the Treasury Department announced Friday.
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The Senate late last night approved by a 60-37 vote a motion to end debate on an amendment that would allow the ABA-backed $30 billion lending fund to be restored to the small-business bill (H.R. 5297).
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The Federal Reserve would take action if it was needed to prevent the economic recovery from faltering, Chairman Ben Bernanke told the Senate Banking Committee Wednesday during his semiannual report to Congress.
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ABA has updated its fact sheet on Troubled Asset Relief Program profits and losses to help counter some recent discussions about covering TARP costs through a new bank tax.
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The Securities and Exchange Commission yesterday proposed new limits on 12b-1 fees -- fees that mutual fund investors pay to companies for sales and marketing -- and improved disclosures.
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