NewsWatch Today

Community bankers can now order physical copies of a check fraud prevention flyer to distribute to customers.

The House Financial Services Committee voted to advance ICBA-advocated bills to ban trigger leads, change threshold requirements for small bank holding companies, and support small financial institutions.

The Federal Reserve reminded banks it will adopt the ISO 20022 message format for the Fedwire Funds Service on Monday, July 14. The existing proprietary Fedwire Application Interface Manual format will sunset on Friday, July 11.

Ahead of a House Financial Services Committee markup scheduled for today, ICBA urged committee members to vote to advance bills to ban trigger leads, change threshold requirements for small bank holding companies, and support small financial institutions.

Acting Comptroller of the Currency Rodney Hood reaffirmed the OCC’s support of preemption as a cornerstone of the dual banking system and fundamental to the operation of the federal banking system.

Michelle Bowman was sworn in as Federal Reserve vice chair for supervision.

The House of Representatives passed ICBA-backed legislation to protect the integrity of the Small Business Administration 7(a) program so it can continue to reach more borrowers and support local economic development.

Rep. Joyce Beatty (D-Ohio) reintroduced ICBA-supported legislation to codify a Treasury Department program to support minority depository institutions and other community banks.

ICBA and a group of community bankers met with the Uniform Commercial Code's Permanent Editorial Board at a national stakeholders' meeting to advocate changes to state law to better address check and wire fraud.

ICBA congratulated Federal Reserve Governor Michelle Bowman following last night’s Senate vote confirming her ICBA-advocated nomination to serve as Fed vice chair for supervision.

ICBA said it strongly supports a Financial Crimes Enforcement Network proposed rule to designate the Huione Group as a primary money laundering concern, but it said more needs to be done to curtail the rapid growth of crypto scams.

ICBA and its 44 state affiliates this week called on senators to include the Access to Credit for our Rural Economy (ACRE) Act (S. 838) in the tax portion of the Senate reconciliation bill, noting it is bipartisan legislation that would reduce high loan interest costs for farmers, ranchers, and rural homeowners.