The Consumer Financial Protection Bureau issued its fair lending annual report to Congress describing its fair lending enforcement priorities and statistics.
ICBA community banker Thomas Fraser—CEO of First Mutual Holding Co. in Lakewood, Ohio—testified on deposit insurance reform before the Senate Banking Committee on behalf of his banks.
ICBA and other financial services groups expressed strong opposition to an attempt to advance credit card routing restrictions via this year’s National Defense Authorization Act, while ICBA continues its grassroots campaign against the measure.
Community banks should not be classified as data furnishers when data brokers obtain consumer information from a bank, ICBA told the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau said more than three-quarters of its consumer complaints in 2022 focused on credit or consumer reporting, primarily related to inaccurate information on consumer credit reports.
ICBA announced the launch of ICBA Community—an online platform that provides professional networking and discussion opportunities exclusively for community bankers.
ICBA and 44 state community banking associations called on members of Congress to oppose the Credit Card Competition Act (S. 1838/H.R. 3881) while ICBA continues its grassroots campaign against the measure.
The Consumer Financial Protection Bureau and OCC announced penalties against Bank of America for assessing multiple overdraft and non-sufficient-funds fees against customers for a single transaction, among other practices.
ICBA is calling on community bankers to send individual comment letters to the FDIC to support the agency’s proposal to exempt community banks under $5 billion in assets from its proposed special assessment.
The Consumer Financial Protection Bureau’s policy statement that explains the legal prohibition on abusive conduct in consumer financial markets fails to acknowledge the myriad rules and regulations that apply to insured depository institutions, ICBA said.
The Federal Reserve Bank of New York Innovation Center released reports on its research into an interoperable network for wholesale payments using a distributed ledger shared by multiple entities.
