ICBA is calling on community bankers to contact their members of Congress after legislation to allow large merchants to expand the power of the federal government to intervene in the U.S. credit card market was reintroduced in the Senate.

The FDIC said it projects that the Deposit Insurance Fund reserve ratio remains on track to reach the statutory minimum of 1.35% ahead of the statutory deadline of Sept. 30, 2028.

The FDIC board of directors approved the rescission of the agency’s 2024 Statement of Policy on Bank Merger Transactions and the reinstatement of its statement of policy in effect prior to 2024.