ICBA-advocated legislation that would restrict the ability of the federal government to introduce a U.S. central bank digital currency was introduced in the Senate after passing the House Financial Services Committee last fall.
A novel financial institution that would pass deposits directly into a Federal Reserve master account announced it was denied access to a Fed master account.
The Financial Action Task Force—a global anti-money-laundering watchdog—said many countries have not implemented its recommended standards on virtual assets, allowing criminals to exploit gaps in crypto regulation.
The FDIC Office of the Inspector General said strategic human capital management is the FDIC’s top challenge and is affecting the agency’s ability to conduct exams.
The Treasury Department’s Office of Foreign Assets Control announced sanctions on nearly 300 Russian individuals and entities, including the operator of the Mir National Payment System.
ICBA called on federal banking regulators to ensure their latest regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act provides substantive regulatory relief for community banks—which previous reviews have failed to do.
Crypto industry resistance and jurisdictions competing for crypto business have held up progress on consolidated supervision of cryptoassets, Acting Comptroller of the Currency Michael Hsu said.
Federal Reserve Vice Chair Philip Jefferson said policymakers should remain “vigilant and nimble” on monetary policy in case of adverse shocks to the economy.
The Independent Community Bankers of America today called on federal banking regulators to ensure their latest regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act provides substantive regulatory relief for community banks, which previous reviews under the law have failed to do.
The role of the Federal Reserve and other regulators in overseeing banks is not to make credit allocation decisions, but to ensure institutions manage their material risks, Fed Governor Michelle Bowman wrote in a recent essay.
Registration is open for ICBA’s Bank Directors Forums—exclusive sessions tailored for busy directors. Offered quarterly via livestream, these half-day sessions offer insights and tools to navigate the highly regulated financial services industry, with savings for those who register for all four. Register here.
The Independent Community Bankers of America® (ICBA) announced three-year agreements with Fiserv, TrueNorth, Wipfli, and Ncontracts to sponsor ICBA’s acclaimed ThinkTECH Accelerator and other innovation programming.
Federal Reserve researchers said a U.S. central bank digital currency would likely have only a marginal impact on the international role of the U.S. dollar and the role of U.S. payment systems in cross-border payments.
The Consumer Financial Protection Bureau issued a procedural rule updating the process by which financial institutions can appeal supervisory findings.
ICBA’s Charles Potts highlighted several recent innovation milestones, including the opening of its Center for Innovation, which coincided with ThinkTECH Regulator Day on Feb. 15, and its inaugural ThinkTECH Core Day event, held earlier in the month, in a new blog post.
Federal Reserve Vice Chair for Supervision Michael Barr said Friday that bank supervisors are increasing scrutiny for larger banks in the wake of Silicon Valley Bank’s failure due in part to large unrealized losses.
A Consumer Financial Protection Bureau report on credit card data show that smaller credit card issuers have "significantly lower" median annual percentage rates than the largest 25 credit card companies.
While Congress is out for the Presidents’ Day recess, ICBA continues calling on community bankers to use its Be Heard grassroots action center to urge lawmakers to support several pro-community bank bills.