NewsWatch Today

A new academic paper found “pig butchering” scams—in which victims invest increasing sums in supposedly legitimate virtual currency enterprises before being conned out of their money—claimed $75 billion since January 2020.

The head of the Financial Stability Board warned of the risks posed by multifunction crypto intermediaries and stablecoins.

ICBA’s Independent Banker magazine took home top honors in its category for this year’s Association Trends 2024 TRENDY Awards, while the Independent Banker podcast also received recognition in the best podcast category.

The fallout of reports on discriminatory lending at Navy Federal Credit Union continued Wednesday with new congressional leaders seeking an inquiry.

ICBA is encouraging Florida community bankers to respond to the Florida Bankers Association’s request for phone calls opposing state legislation to expand the powers of tax-exempt credit unions.

The Community Reinvestment Act final rule issued last fall is unnecessarily complex and would impose disproportionate regulatory burdens on community banks, Federal Reserve Governor Michelle Bowman said.

ICBA is urging community bankers to call and write their members of Congress on the pending farm bill.

Large banks should be doing more to account for the counterparty risks posed by hedge funds and other nonbanks, Federal Reserve Vice Chair for Supervision Michael Barr said.

ICBA is urging community bankers to both call and write their members of Congress today on the pending farm bill using ICBA’s newest grassroots advocacy materials.

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.