Sep16 CLARITY Act Stalls in Senate, Leaving Opportunity to Strengthen Local Lending Protections

The Senate yesterday failed to advance the CLARITY Act, with cloture on the motion to proceed falling short by a vote of 49–50, below the 60 votes required. All Democrats present voted against advancing the bill, joined by four Republicans: Susan Collins (Maine), Josh Hawley (Missouri), Jerry Moran (Kansas) and Thom Tillis (North Carolina). Tillis switched his vote to “no” as a procedural step to preserve the ability to seek reconsideration. The result stalls the digital asset legislation and leaves its path forward uncertain.

Sep16 More Than a Name on a Stadium: The Changing Credit Union Business Model
Stadium naming rights are not, by themselves, the issue. What they reveal about the modern credit union business model is.

Sep09 Is It Time to Rethink CECL?

Is CECL making community banks safer—or simply making banking more complicated and expensive?

That’s the question Federal Reserve Vice Chair for Supervision Michelle Bowman raises in a recent Wall Street Journal opinion piece, “How to Make Life Hard for Small Banks.” Bowman argues that the Current Expected Credit Loss standard has created significant costs and complexity for smaller institutions without delivering enough additional benefit.