Mutual Alerts

June 10, 2021 - OCC Hosts Mutual Savings Association Advisory Committee Meeting June 29, 2021
May 27, 2021 - American Banker article "Credit Union's deal for tiny thrift has mutual bank advocates on edge"
May 20, 2021 - Chairman Powell Issues a Statement Outlining the FRBs Response to Technological Advances in the Global Paymenst Landscape
May 20, 2021 - Banking Committee Chair Brown Sends Clear Message That The Door No Longer Swings Wide for Fintech National Charter Applicants
May 11, 2021 - AMB and ICBA Mutual Committee Send Joint Letter to OCC Acting Comptroller Opposing Approval of Credit Union Acquisition of Brainerd SL F.A.
May 3, 2021 - Congratulations to Paul Simmons of First Federal Savings of San Rafael on his Golden Jubilee!
May 3, 2021 - Reports are that Yellen has Named Michael Hsu to Serve as Acting Comptroller
May 2, 2021 - New Jersey District Court Vacates Parts of its Ruling In Connection with Spencer Savings Bank SLA Conversion
April 29, 2021 - OCC Hosts First MSAAC - De Novo Mutuals, MDIs, Member Distributions, QTL included in a Heavy MSAAC Agenda
April 7, 2021 - Waters and Warner Urge Extension of ECIP Application Deadline
April 7, 2021 - OCC Hosts Mutual Savings Association Advisory Committee Meeting April 27
March 25, 2021 - Senate Extends PPP Loans to May 31
March 24, 2021 - Wings Financial Credit Union Agrees to Federal Mutual Deposits
March 23, 2021 - Spring Brings AMB New Leadership
March 18, 2021 - OCC Appoints Five New Members to MSAAC
March 11, 2021 - Professor Mehrsa Baradaran
March 9, 2021 - Joint Agency Rule for Capital Treatment of ECIP Sub Debt
March 9, 2021 - Treasury Issues Rules Governing Emergency Capital Infusions
January 26, 2021 - Financial Services Subcommittee Assignments Announced
January 25, 2021 - Mass Commissioner of Banking Issues Update on COVID-19 Mutual Meeting Postponements
January 22, 2021 - NJ Senate Commerce Committee Holds Hearing
January 19, 2021 - NJ Senate Commerce Committee to Consider Dramatically Expanded Bill
December 21, 2020 - FDIC 2020 Community Banking Study
December 17, 2020 - Bah Humbug!  Says ABA Podcast Guest Movie Critic
December 16, 2020 - NCUA Plans to Finalize Sub Debt Rules
November 30, 2020 - Tom Rudzewick Named to MSAAC
November 30, 2020 - Mass Division of Banking Annual Meeting Pandemic Adjustments Guidance
November 9, 2020 - OCC Reports Key Risks, Effects of COVID-19 in Federal Banking System
October 19, 2020 - Reports that Senate-House Impasse over Corona-19 Relief Bill May Be Resolved
October 19, 2020 - Eastern Bankshares, Inc. Announces Completion of Mutual to Stock Conversion
October 2, 2020 - Governor Michelle Bowman Delivers Keynote Speech
October 1, 2020 - Banking Group Urges Congress to Block OCC Payments Charter  
October 7, 2019 - ABA Nominates 2019-2020 Board Members‎
October 1, 2019 - AMB Leadership Meets with Federal Reserve Board Vice Chairman for Supervision Randal Quarles
August 9, 2019 - Win for Mutual Institutions in Eighth Circuit Court
June 18, 2019 - Agencies Issue Final Rule to Streamline Regulatory Reporting Requirements and Comment to Further Review of Reporting Burdens for Small Institutions

May 28, 2019 - Mutual Alert - OCC Adopts Final Covered Association Rule With Improvements Based On AMB Comments

November 1, 2018 - Mutual Alert - AMB Files Comment Letter with Federal Reserve Board Proposing Changes to Interim Regulation on Small Bank Holding Company Exemption to Accommodate Mutual Banks and Mutual Holding Companies
October 24, 2018 - Mutual Alert - ABA Names Three Mutual Bankers to Ten Member Board

October 3, 2018 - Mutual Alert - Federal Banking Agencies Issue Joint Statement On Collaboration on FinCen Compliance

One of the AMB’s Guiding Principles is to encourage the Agencies to facilitate collaboration in fields such as compliance in order to reduce costs The federal depository institutions regulators and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued a joint statement to address instances concerning collaborative arrangements among banks  to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations. We are encouraged that are efforts to encourage more agency support for collaboration among banks to share compliance costs are bearing fruit. However, the statement contains numerous caveats which we believe require further consideration. we will continue to press for more relief in this area.

September 25, 2018 - Mutual Alert - OCC MSAAC Meets to Discuss Lending, CECL and Mutual Collaboration
September 14, 2018 - Mutual Alert - OCC Proposes Implementing Flex Act, Further Blurring the Distinction Between Federal Stock Associations and National Banks. State Chartered Savings Associations Excluded
August 28, 2018 - Mutual Alert - OCC Call for Nominees To Its Mutual Savings Association Advisory Committee

Please see the attached notice from the OCC concerning nominations for members to serve on its mutual advisory committee. This Committee affords direct personal access to senior OCC officials and is a rare opportunity to express views unique to mutual executives. We urge you to consider participating and will be happy to endorse your candidacy. Please contact me for further information.

July 9, 2018 - Mutual Alert - Agencies Issue Joint Statement Signalling the Implementation of Dodd-Frank Reform

May 21, 2018 - Mutual Alert - AMB Elects Tom Fraser FF of Lakewood, Chairman and Leonard Stekol of Ridgewood Savings Bank, Vice Chairman.

May 21, 2018

March 27, 2018 - Mutual Alert - Financial Services Committee Cites Forbes Article to Those Pressing for House Rubber Stamp of Senate Regulatory Relief Bill

Signaling that the Congress consists of two coequal bodies with a reference to a Forbes magazine article that cites the classic children’s educational cartoon on how a bill becomes law, Chairman Hensarling has made it clear he expects the deference due accorded to the coequal body of the legislative branch. The committee under the tag “In case you missed it” issued a press release attaching the Forbes magazine article on the likelihood of the House insisting on changes to the Senate Bill.  It is becoming clear that the House may not rollover to the Senate Bill without some concessions. The other trade groups have also moderated their call for quick House action.
March 15, 2018 - Mutual Alert - United States Senate Passes Regulatory Reform Bill
March 15, 2018 - Mutual Alert - Federal Judge Dismisses Mutual M&A Lawsuit

March 9, 2018 - Mutual Alert - AMB Chairman Chuck Boulier comments to OCC MSAAC on bias in OCC Official Guidance and Bulletins

March 5, 2018 - Mutual Alert - OCC Announces Date of Next MSAAC Meeting

The OCC announced the date of its next Mutual Savings Association Advisory Committee meeting as Wednesday March 21st at the OCC headquarters building in Washington. The notice which is pasted above reminds parties of their opportunity to submit written comments. This is an opportunity that seldom has been exercised and we urge you  to take full advantage of it by sharing with the Committee any comments that derive from your experience with the regulatory system and how it may be improved with respect to mutual banks.

February 27, 2018 - Mutual Alert - House Passes Risk Based Approach Requirement for Capital Requirements

Today the House passed H.R. 4296, co-sponsored by Chairman Blaine Luetkemeyer (R. Mo.) and Congressman Gregory Meeks (D. N.Y.), in a vote of 245 to 169. The AMB supported  Bill would relieve mutual banks from one size fits all capital requirements and adopt a tailored approach that is tied to risk. Chairman Hensarling praised the passage and noted the billions in dollars that are held unnecessarily as capital which could be infused into the economy.  If this Bill becomes law, mutual banks will have an even more compelling need to impress upon the regulators the relatively low risk profile of the mutual form. A copy of the Committee Press Release is attached.

February 15, 2018 - Mutual Alert - AMB Members Meet with Treasury Officials in Washington D.C.

February 15, 2018

February 8, 2018 - Mutual Alert - House Passes Small Bank Exemption
Please see the attached press release announcing passage of Congresswoman Mia Love’s small bank bill. You may recall the Senate already passed a similar version.  We have worked hard to achieve this legislation and now await a  Joint House/ Senate Conference Committee to resolve any differences in a community bank bill and pass a bill for the Presidents signature. This would open a host of capital raising opportunities for mutual and other closely held nonpublic banks.
January 11, 2018 -  Mutual Alert - Congresswoman Love (R. Ut) Introduces New Bill To Raise Small Bank Exemption to $3 Billion with Bi- Partisan Support
November 1, 2017 - Mutual Alert - President Trump Signs Resolution Repealing the CFPB Arbitration Rule 
July 28, 2017 - Mutual Alert - The Office of the Comptroller of the Currency holds public meeting of the Mutual Savings Association Advisory Committee
July 12, 2017 - Mutual Alert - Shades of the “White Paper”: New Jersey Governor Christie Attempts Raid on Horizon Blue Cross Blue Shield Surplus.
May 9, 2017 - Mutual Alert - OCC Holds First MSAAC Meeting Under Acting Comptroller Noreika
May 4, 2017 - Mutual Alert - OCC Appoints Six New Members to Mutual Savings Association Advisory Committee
April 25, 2017 - Mutual Alert - Senator John Kennedy ( R. La) Introduces Bill to Exempt All Community Banks from Dodd-Frank; OCC Schedules First MSAAC under Trump Administration
March 20, 2017 - MutualAlert - Plaintiffs Bring Class Action In Their Capacity As Members Challenging Merger Between Two Federal Mutuals  Because of Capital Disparity, Naming Directors of Disappearing Bank as Defendants
March 9, 2017 - Mutual Alert - AMB meets with Senate Banking Committee Ranking Minority Member  Senator Sherrod Brown; Federal Charter National Bank Powers Election Bill Reintroduced; No indication that the MCC Bill will be revived anytime soon
February 9, 2017 - Mutual Alert - NCUA Proposes Alternative Capital Items for Credit Unions: AMB Urges Caution in Mutual Institutions Joining Bank Opposition
January 6, 2017 - Mutual Alert - House Financial Services Names New Subcommittee Leadership
January 5, 2017 - Mutual Alert - House Financial Services Announces New Republican Committee Members
December 15, 2016 - Mutual Alert - OCC EGRPRA Housecleaning Facilitates Mutual Mergers By Eliminating The Need For Certain Step Merger Transactions
December 12, 2016 - Mutual Alert - Another Step in the Journey to Tailored Regulation
December 8, 2016 - Mutual Alert - The OCC Holds Last MSAAC Meeting of The Year: Focus is on Fintech, Innovation and Collaboration
November 29, 2016 - Mutual Alert - AMB Chair and Vice Chair Seek Support from Senator Schumer for Regulatory Burden Relief for Mutual Banks

November 22, 2016 - Mutual Alert - House to Consider HR. 6392 to Scale Regulation with Risk

November 22, 2016

October 18, 2016 - Mutual Alert - OCC’s Mutual Savings Association Advisory Committee Charter Renewed

On Monday, the OCC, with the approval of the Secretary of the Treasury, issued a release announcing the renewal of the charter of its Mutual Savings Association Advisory Committee. The renewal covers a two year period that began on September 21, 2016.  The Comptroller has determined that the renewal of the charter is necessary and in the public interest.  The release can be found at the following link:
August 12, 2016 - Mutual Alert - White House Council Of Economic Advisers Issues Brief In Support of Administration Efforts To Benefit Community Banks
August 11, 2016 - Mutual Alert - AMB meets with Federal Reserve Bank of Philadelphia Senior Staff; Federal Reserve Board Announces the Members of its Community Depository Institutions Advisory Council.
Federal Reserve Board Announces The Members Of Its Community Depository Institutions Advisory Council (CDIAC). 
August 5, 2016 - Mutual Alert - The FDIC/OCC Joint Mutual Forum Signifies Mutual Bank Progress But Uncertainties Remain With The Forthcoming Change In The Administration
August 5, 2016 - Mutual Alert - OCC MSAAC Holds Quarterly Meeting: Nominations for Membership To Be Solicited
July 19, 2016 - Mutual Alert - Republican Party Platform Endorses Easy Access to Capital
June 16, 2016 - Mutual Alert - House Republican Leadership Endorses H.R. 3791 With Special Mention in Election Year Legislative Campaign
June 7, 2016 - Mutual Alert - Chairman Hensarling Unveils Elements of Dodd –Frank Reform in Speech At The Economic Club Of New York
March 22, 2016 - Mutual Alert - New York Supreme Court Affirms Discretion of Board to Remain in Mutual Holding Company Form
March 15, 2016 - Mutual Alert - AMB  Delegation Meets With FDIC Vice Chairman Hoenig: Discusses Relief From “One Size Fits All” Regulation
February 29, 2016 - Mutual Alert - House Financial Services Committee to Consider the “TAILOR Act”: Mutual Banks May Benefit
December 9, 2015 - Mutual Alert - OCC Responds to Chairman Boulier’s Letter Affirming Policy on Merger/Conversions
October 2, 2015 - Mutual Alert - House Passes Credit Union Bill Staying the NCUA's efforts to impose Risk Based Capital Upon Credit Unions

June 1, 2015 - Mutual Alert - FISERVE Data Request Raises Serious Liability Questions

June 1, 2015

April 3, 2015 - Mutual Alert - Comptroller Curry Praises Mass Approach To Thrift Investment Powers

February 26, 2015 - Mutual Alert - ABA determines to Forego Advocating a Mutual National Bank Charter

February 26, 2015

February 23, 2015 - Mutual Alert - Ten seats will become vacant in the fall of 2015 for the CFPB Community Bank Advisory Council

February 23, 2015

January 30, 2015 - Mutual Alert - FRB Implements Small Bank Holding Company Exemption

January 30, 2015

Copy of Proposed Rule

January 16, 2015 - Mutual Alert - Changes to Rule Governing Federal Savings Associations Limiting Even Tier 2 Capital alternatives for Mutuals

January 16, 2015

December 23, 2014 - Mutual Alert - President Obama Signs Into Law  H.R. 3329 Granting Relief to Small Bank and Savings and Loan Holding Companies from Consolidated Capital Requirements

December 23, 2014

December 9, 2014 - Mutual Alert - The OCC’s Proposal for Broadened Investment Powers for Savings Associations: Part Deux

November 10, 2014 - Mutual Alert - Federal Reserve Board Governor Voices Support For Expansion Of The AMB Promoted Small Bank Capital Exemption

August 19, 2014 - Mutual Alert - Populism On The Rise in Massachusetts?  Depositors Fail to Approve Stock Conversion

August 19, 2014

July 22, 2014 - Mutual Alert - OCC Issues Long Awaited Mutual Bulletin Citing “Unique Distinctions” in Compensation, Earnings and Capital

July 22, 2014

May 14, 2014 - Mutual Alert - AMB Seeks Compensation Clarification from the OCC on the Limited Form of Compensation Available to Mutuals

May 14, 2014

May 7, 2014 - Mutual Alert - HR. 3329 Passes the House

May 7, 2014

May 5, 2014 - Mutual Alert - AMB Progresses On Legislation To Eliminate Inequity in Regulatory Treatment Of Mutual Banks

May 5, 2014

April 9, 2014 - Mutual Alert - FDIC Study Supports Resilience Of Community Banks

April 9, 2014

April 8, 2014 - Mutual Alert - FDIC Schedules Meeting of the Advisory Committee on Community Banking on April 9th: Give Mutual Banks A Voice

April 8, 2014

March 24, 2014 - Mutual Alert - AMB's Fourth Annual Meeting Attracts Experts on Mutuality from the Government and Private Sectors

March 24, 2014

March 5, 2014 - Mutual Alert - AMB Endorses Applications of Roberto Rey and Jeane Coyle to Serve on CFPB Community Bank Advisory Council

March 5, 2014

December 19, 2013 - Mutual Alert - Agencies Called Upon to Address Unintended Consequences of Volcker Rule to Community Banks: This Mess Will Take More than Turpentine to Clean-Up

December 19, 2013

November 11, 2013 - Mutual Alert - AMB Members Chuck Boulier and Michael Rauh Participate in Connecticut Bankers Association Convention Panel on Mutuality


November 11, 2013

September 10, 2013 - Mutual Alert - Pennsylvania Association of Community Bankers Endorses HR. 1603


September 10, 2013

July 3, 2013 - Mutual Alert - Federal Reserve Issues Final Rule on Basel III Capital Requirements


July 3, 2013

June 10, 2013 - Mutual Alert - Representatives Michael G. Grimm and Gregory Meeks Issue A Dear Colleague Letter Relating to HR 1603, "The Mutual Community Bank Competitive Equality Act"

June 10, 2013

April 9, 2013 - Mutual Alert - Acquisition of Two More Mutuals Announced


April 8, 2013

March 22, 2013 - Mutual Alert - NCUA approves Landmark Credit Union Acquisition of
Hartford Savings

March 22, 2013

March 21, 2013 - Mutual Alert - Multi-Billion Dollar HarborOne Credit Union Obtains Vote to Convert to Mass Coop Bank

March 21, 2013

February 27, 2013 -  Mutual Alert - ICBA Announces Its  “Plan for Prosperity” Legislative Agenda for Regulatory Relief Endorsing Key Provisions of AMB Endorsed Grimm Bill


February 27, 2013

February 15, 2013 - Mutual Alert - AMB Meets with Governor Elizabeth Duke at Federal Reserve Board Offices in Washington, D.C.


February 14, 2013

December 2, 2012 - Mutual Alert - Mutual Banks Are Antidote to Wall Street - Washington Post Article


December 2, 2012

November 30, 2012 - Mutual Alert - Self-Help Credit Union Announces the Resurrection of Second FS&LA

November 30, 2012

November 29, 2012 - Mutual Alert - AMB provided written testimony at the joint hearing before the House Financial Services Subcommittees on Financial Institutions and Consumer Credit and Insurance, Housing and Community Opportunity held to examine the impact of the federal banking

agencies proposed rules to implement the Basel III capital standards.


November 29, 2012

November 26, 2012 - Mutual Alert - Stock Saving Bank Subsidiary Converts to Mutual Credit Union to Effectuate Deregistration of Thrivent Financial For  Lutherans as Savings and Loan Holding Company


November 26, 2012

November 15, 2012 - Mutual Alert - AMB Outreach To  Federal Regulators and Legislators Continues With Letters And Calls To  Congressman King and Grimm, CFPB  Director Cordray, Federal Reserve Board Governor Duke And The Federal Reserve Board’s Community Bank Connection Advisory Board


November 15, 2012

September 26, 2012 - Mutual Alert - British Building Societies Strive to Fashion a Marketable CET1 instrument

September 26, 2012

July 21, 2011 - Mutual Alert - OTS Closes Up Shop Early, Gruenberg and Curry Confirmation Hearings Scheduled For Tuesday Next Week
July 21, 2011 - Meeting with U.S. Department of the Treasury
May 27, 2011 - Mutual Alert Regarding America's Mutual Banks Meeting with Senior Staff at the FDIC

May 10, 2011 - Mutual Alert regarding Federal Reserve Supervision of Simple MHCs, Proposed Amendment to Dodd-Frank for Mutuals, and Salem Five’s Commitment to Mutuality

October 22, 2008 - Mutual Alert regarding The Business Judgment Rule and Mutual Insurance Companies—Hill v. State Farm Mutual Automobile Insurance Company