blocks the CFPB from issuing a substantively similar rule in the future. ABA played a significant role in getting the CRA resolution over the finish line, working to educate lawmakers and their staff on the harm this rule would do if allowed to take effect. There were some in our industry who didn’t think we could get this done, but ABA and our members pushed hard, and our industry is stronger for it. We also continue our advocacy on Capitol Hill in support of longstanding ABA priorities like the Access to Credit for our Rural Communities Act (ACRE) — which was reintroduced with strong bipartisan support in this Congress — as well as bills that would encourage de novo formation and support the important work of community development financial institutions and minority depository institutions. On the regulatory side, we’ve seen rollbacks of several misguided rules or policy statements, and the banking agencies have signaled forthcoming changes to the 2023 Community Reinvestment Act final rule, as well as changes to rules implementing Sections 1071 and 1033 of the Dodd-Frank Act. Personalized Financial Consulting for Your Business Growth Small Business Commercial Real Estate Government Fiscal Analysis & Legislative Advocacy Interested in working together? Visit www.ponderosaeconomics.com or call (505) 699-1841. Financial & Management Consulting Firm And — after sustained advocacy by ABA — the CFPB rescinded a package of “guidance” documents that we felt actually set new regulatory expectations, while circumventing the rule-writing process. Coupled with several recent victories in court — including favorable settlements with the CFPB over their appeal of our UDAAP win and late fee final rule — it seems that a regulatory recalibration is well underway. We continue to hear commitments from Treasury Secretary Scott Bessent about working constructively with our sector to cut through the red tape. While they might not be the things making national headlines, these changes are happening — and they are incredibly meaningful not just for banks, but for the American economy. Email Rob at nichols@aba.com. 11
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