In a new letter sent to the Federal Reserve Board of Governors, ICBA and a coalition that includes organizations representing the vast majority of federally-regulated financial institutions across the country, urged the Fed to reject merchant requests for further changes to Regulation II governing debit card interchange fees.
The Consumer Financial Protection Bureau released its proposal to implement standards for sharing consumer financial data under Section 1033 of the Dodd-Frank Act.
The Financial Crimes Enforcement Network issued a proposed rule that identifies international convertible virtual currency mixing as a primary money-laundering concern.
The Cybersecurity and Infrastructure Security Agency and other agencies released an updated version of the joint #StopRansomware Guide. The update includes new prevention tips, revised response steps, and added threat hunting insights.
ICBA President and CEO Rebeca Romero Rainey issued the following statement on today’s Consumer Financial Protection Bureau proposal to implement Section 1033 standards for sharing consumer financial data.
ICBA commended the Senate for passing an ICBA-advocated resolution to nullify the Consumer Financial Protection Bureau’s Section 1071 small-business data collection and reporting requirements.
ICBA expressed support for the International Organization of Securities Commissions’ recommendations for establishing policies on decentralized finance.
The Independent Community Bankers of America (ICBA) today commended the Senate for passing an ICBA-advocated resolution (S.J.Res.32) to nullify the Consumer Financial Protection Bureau’s Section 1071 small-business data collection and reporting requirements. The 53-44 Senate vote included five Democratic senators voting yes and follows July’s House Financial Services Committee passage of the House version of the resolution.
With the Senate scheduled to vote today on a resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule, ICBA is urging community bankers to urge their senators to support the measure.
The Federal Reserve Board and FDIC board of directors scheduled meetings for next week on two high-profile regulatory issues: the Community Reinvestment Act and climate risk.
Federal Reserve Governor Michelle Bowman said she has yet to see a compelling argument that a U.S. central bank digital currency could address payments system problems more effectively, efficiently, or with fewer risks than alternatives.
Federal Housing Finance Agency Director Sandra Thompson recognized mortgage lenders’ concerns with rising repurchase requests from Fannie Mae and Freddie Mac, though she said requests have declined since their peak in early 2022.
The Federal Housing Finance Agency said it will revise the treatment of active single-family mortgages backed by Fannie Mae and Freddie Mac for which borrowers elected a COVID-19 forbearance under the enterprises' representations and warranties framework.
