The FDIC updated its supervisory guidance on multiple re-presentment nonsufficient funds fees to clarify that it will not ask institutions to conduct a lookback review absent a likelihood of substantial consumer harm.
The Senate Banking Committee tomorrow is scheduled to take up legislation that would expand existing regulatory authority to claw back compensation from the executives of certain failed banks.
The Independent Community Bankers of America (ICBA) will host a two-day ICBA ThinkTECH Accelerator event featuring cohort graduates, where they will showcase their community bank offerings following their 10-week intensive bootcamp.
Pro-Russia hackers are planning to conduct cyberattacks against Western financial targets, including Swift and the Federal Reserve, according to an alert from the U.S. government.
ICBA continues calling on community bankers to use its Be Heard grassroots resource center to urge their members of Congress to support resolutions and policies that affect community bankers across America.
The Independent Community Bankers of America (ICBA) and its affiliate, the Senior Housing Crime Prevention Foundation (SHCPF), are providing tips for preventing elder financial abuse in recognition of World Elder Abuse Awareness Day on June 15.
Members of Congress continued to press Consumer Financial Protection Bureau Director Rohit Chopra on the bureau’s ICBA-opposed Section 1071 data-collection rule during a second day of hearings on Capitol Hill.
ICBA expressed support for a Securities and Exchange Commission proposal confirming that crypto exchanges must follow the same rules of the road as other entities that trade securities.
While the overall strength of the federal banking system is sound, banks should be “on the balls of their feet” regarding risk management, the OCC said in its latest Semiannual Risk Perspective.
The Consumer Financial Protection Bureau expects to seek comments on its pending rulemaking to establish standards for sharing consumer financial data in the coming months, CFPB Director Rohit Chopra said.
On March 15 during the final general session at ICBA LIVE, the Federal Reserve announced that it will launch its much-anticipated FedNow Service in July. With instant payments already a central topic of discussion, this news added to the buzz.
At ICBA Bancard, we continue to arm bankers with information and resources to support their instant payments and digital transformation (icba.org/digital-transformation) journeys.
For nearly two years, ICBA Bancard has been working with banks to help them prepare for instant payments and the imminent launch of FedNow. We’ve facilitated countless webinars, spoken at conferences, and discussed the topic when meeting with bankers in person.
If you feel like it’s hard to stay on top of payments fraud trends these days, you would not be alone. The introduction of any new payment instrument opens the opportunity for criminals to dupe the system, organizations, and consumers.
For years, we’ve been waiting in the wings, anticipating the launch of an instant payments service by the Federal Reserve, so it feels surreal to say we’ve arrived.
With the July launch of FedNow looming, are you feeling behind in terms of learning more about the service, its impacts on your bank, and the steps needed to implement it?