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Steve Schwartz discusses significant news regarding the American Bar Association (ABA) and the LSAT requirement. He mentions that in November, the ABA's legal education committee recommended removing the mandate for law schools to use standardized tests for admissions, including the LSAT and GRE. Historically, the ABA has required standardized tests for law school admissions, primarily using the LSAT. Recently, the ABA allowed the GRE and other tests as alternatives. This shift marks a notable change in the admissions process, aligning with the growing test-optional movement in education. Schwartz encourages viewers to engage with the video by liking, commenting, and subscribing.