The Federal Financial Institutions Examination Council’s Task Force on Consumer Compliance adopted revised examination procedures for the Fair Debt Collection Practices Act and its implementing Regulation F.
With the Federal Reserve's interest rate hikes hastening the normalization of deposits, the FDIC should respond by quickly drawing down its assessment rate increase, ICBA Chairman Brad Bolton wrote in a new op-ed.
As Congress considers controversial legislation to apply routing restrictions to credit card transactions — which would end popular credit card rewards programs — the Independent Community Bankers of America released new polling conducted by Morning Consult indicating consumers oppose the policy change.
ICBA President and CEO Rebeca Romero Rainey and ICBA Group Executive Vice President of Congressional Relations and Strategy Paul Merski are featured on The Hill’s 2022 list of the top Washington advocates in the nation.
Today, a broad coalition of financial services and consumer organizations expressed support for new legislation to close the industrial loan company (ILC) charter loophole, the "Close the Shadow Banking Loophole Act."
The Independent Community Bankers of America (ICBA) today expressed its strong support for Senate Banking Committee Chairman Sherrod Brown's (D-Ohio) introduction of the Close the Shadow Banking Loophole Act to close the industrial loan company loophole, which allows companies to skirt regulatory oversight and violates U.S. policy separating banking and commerce.
ICBA said a congressional report on financial technology participants in the Paycheck Protection Program validates that community banks were the unequivocal leaders of the U.S. economic recovery during the pandemic.
With the debate over ICBA-advocated cannabis banking legislation picking up as some policymakers express concerns and others confidence in the bill's passage, ICBA is urging community bankers to continue speaking out to their members of Congress.
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Select Subcommittee on the Coronavirus Crisis’s report regarding the role of financial technology companies in facilitating a disproportionately high rate of fraudulent and otherwise ineligible loans through the Paycheck Protection Program.
Community banks reported a 13.5% increase in net income during the third quarter from the previous quarter and a 3.9% increase from a year ago, according to the FDIC's latest Quarterly Banking Profile.
With FDIC Acting Chairman Martin Gruenberg telling Congress this week that he expects regulators to release a final rule modernizing Community Reinvestment Act regulations during the early part of next year, ICBA reiterated its call for the federal banking agencies to issue a uniform rule that minimizes new data collection and reporting burdens for community banks.
ICBA expressed support for a new bipartisan letter from members of Congress urging the Federal Housing Finance Agency to align its capital rules with those of federal banking regulators to avoid penalizing community banks for supporting local communities during the COVID-19 pandemic.