President's Message

Last-Minute Tax on Big Banks ‘Very Disrespectful’ Of Public Process, Critics Say

Spin Control: Doing the Budget the Way It’s Always Done Doesn’t Make it the Best Way

New Tax Hard to Swallow; Washington Democrats Pull Fast One in Legislature’s Last Weekend

Stakeholder: Legislative Run on Banks Sends “Chilling Message”

Editorial: A Troubling Shortcut for State Tax Increase on Banks

In Our View: State Budget Process In Need of Transparency

Washington’s Legislature Must Be More Transparent

Editorial: Title-Only Bills Are an Insult to Democracy

Washington Lawmakers Dodge the Constitution with Title-Only Bills

Lawmakers: Veto Bank Tax Bill

Debby McDaniel Joins First Sound Bank as EVP and Chief Financial Officer

                                                                  

National Updates

FDIC Chair McWilliams Testifies Before Senate Banking Committee: On May 15, FDIC Chairman Jelena McWilliams testified with other agency heads before the Senate Banking Committee. In her testimony, McWilliams discussed the FDIC’s plans to expedite the rate cap proposal, which has not changed since 1991.

CFPB Proposes to Raise HMDA Reporting Thresholds: The CFPB issued a proposal in early May to provide relief for smaller institutions from the HMDA data collection and reporting requirements. The proposal would increase the coverage threshold for closed-end mortgage loans from 25 loans to either 50 or 100.

Fed Report: Bank Capital ‘Well Above Regulatory Requirements’: Earlier this month, the Federal Reserve released its second report on regulatory and supervisory activities for banking companies, finding continued health and soundness of the industry.

CFPB Seeks Feedback on Regulatory Review, Overdraft Rule: The CFPB issued a notice detailing how it will periodically review regulations as required by the Regulatory Flexibility Act, which requires agencies to conduct a decennial review of certain rules and consider their effects on small businesses.

House Financial Services Committee Advances BSA/AML Bill: The House Financial Services advanced HR 2514, an ABA-backed bill that would modernize the Bank Secrecy Act and anti-money laundering framework.

 

Memmbers in the Community

Finally, a chance for us to shine a spotlight on the many contributions our members are making in their community:

ABA Foundation Now Accepting Community Commitment Award Applications

Kitsap Bank Volunteers at Junior Achievement Event at Decatur High School

Columbia Bank Participates in Music Battle Royale for Federal Way Day Center

First Financial Northwest Bank Volunteers at Renton School District Reality Fair

Sound Community Bank Donates to Helen Haller Elementary School

 

WBA News

We are now accepting registrations for our fall programs, including the Commercial Lending Development Program and Retail Branch Manager Development Program. These programs are purposely kept small to maximize students’ time with instructors, so make sure to register early. We’ve also just opened registrations for our newest educational offering, the Compliance Development Program, which will begin in September.

Registration is also open for the 2019 WBA Convention, July 10-12 at Suncadia Resort in Cle Elum.

If you have news or events to share, please do not hesitate to contact our office.

-Glen