Credit union acquisitions of community banks support the case for including credit unions and other nonbanks in regulatory policies on proposed bank mergers, Federal Reserve Governor Michelle Bowman said.
The federal banking agencies proposed regulatory reporting changes related to the Financial Accounting Standards Board’s accounting standards update on troubled debt restructurings and vintage disclosures.
In recognition of Cybersecurity Awareness Month in October, the Independent Community Bankers of America (ICBA) and the nation’s community banks are offering tips to consumers on practical measures they can take to protect their sensitive data and reduce risk.
Congress on Saturday passed a short-term government funding extension, which President Joe Biden signed into law, averting a government shutdown. The agreement keeps the government funded at current levels until Nov. 17.
The Bank for International Settlements said an experiment showed that wholesale central bank digital currencies can be used to facilitate cross-border trading and settlement between financial institutions.