Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Wednesday, May 14, 2014

Bill Would Halt Basel III MSA Rules Pending Study

ABA on Monday expressed strong support for legislation (H.R. 4042) that would delay implementation of Basel III rules related to mortgage servicing assets until the rules’ impact can be studied and better alternatives explored.

“The Basel rules were designed primarily for large international banks, not for small and mid-size banks; applying these rules to smaller banks has a very different and more dramatic impact on an institution’s ability to conduct business,” ABA EVP James Ballentine said in a memo to the bill’s sponsors.

Ballentine noted that banks of all sizes are selling their MSA portfolios to non-bank entities, which often have no interest in developing long-term customer relationships and are outside the purview of federal banking regulators. ABA Chairman Jeff Plagge made similar observations in a letter Monday to members of the Financial Stability Oversight Council, which has flagged the growth of non-bank mortgage servicers as an emerging threat.

Read ABA’s memo.

No comments:

Post a Comment

Please read our comment policy before making a comment.