NewsWatch Today

ICBA urged the OCC to reject Sony Bank’s application for a national trust bank charter for a proposed subsidiary—its latest response to the sudden influx of applications from nonbank fintechs.

The agency is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe conditions.

ICBA’s unique call for the Consumer Financial Protection Bureau to exempt community banks from its 1033 rule—and big banks’ opposition to a community bank exemption—is making news.

ICBA said it supports U.S. Federal Housing’s plan to focus on safety and soundness of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks while emphasizing the importance of reducing regulatory burdens and maintaining the enterprises’ mission to foster a liquid, efficient, resilient, and competitive housing finance system.

ICBA and other groups met with Federal Reserve Governor Stephen Miran and reiterated that the Fed’s November 2023 debit interchange proposal should be rescinded.

ICBA announced its opposition to Coinbase’s application for a national trust bank charter for its subsidiary, Coinbase National Trust Co.

The Treasury Department sanctioned eight North Korean individuals and two entities for their role in laundering funds derived from a variety of illicit schemes, including cybercrime and information technology worker fraud.

The Consumer Financial Protection Bureau’s Office of the Inspector General released an audit that found the bureau’s information security program is no longer effective.

ICBA urged the OCC to deny Coinbase’s application for a national trust bank charter for its subsidiary, Coinbase National Trust Co.

Respondents to the Federal Reserve’s latest survey of senior financial officers shared their opinions on the standards and terms on, and demand for, bank loans to businesses and households over the past three months.

The United States Court of Appeals for the Tenth Circuit sided with the Federal Reserve, ICBA, and other groups by rejecting Custodia Bank’s argument that it should be granted automatic master account access because it holds a state charter.

Treasury Secretary Scott Bessent and Senator Bill Hagerty (R-Tenn.) said empowering community banks to succeed is essential to driving economic growth in America.