ICBA Newsroom
The ICBA Newsroom collects and centralizes all the NewsWatch Today articles, press releases, Main Street Matters blogs, advocacy letters and other news that impacts community bankers.
Crypto acquisition amid liquidity scare reflects market turmoil
Cryptocurrency exchange Binance announced an agreement to buy rival FTX amid reports of a liquidity crisis at the company, renewing concerns about volatility in the crypto sector.
November 09, 2022 |
ICBA NewsWatch Today
Digital Assets
ICBA continues interchange push as lawmakers pursue must-pass bills
ICBA continues urging community bankers to speak out against a bill to expand on the Durbin Amendment as lawmakers seek to advance the measure during the lame-duck session.
November 09, 2022 |
ICBA NewsWatch Today
Interchange
CFPB reopens inquiry into Big Tech payments platforms
The Consumer Financial Protection Bureau reopened the public comment period on its series of orders collecting information on the business practices of large U.S. tech companies that operate payments systems.
November 01, 2022 |
ICBA NewsWatch Today
More terrorist attacks linked to digital assets: UN
Up to 20% of terrorist attacks are financed by crypto-assets or otherwise linked to digital assets, a United Nations official told Bloomberg. The UN’s Svetlana Martynova said officials are detecting more cases of crypto use in terror-financing as they step up their scrutiny of such practices.
November 01, 2022 |
ICBA NewsWatch Today
Cybersecurity Digital Assets
Fed official answering FedNow questions at webinar today
ICBA Bancard today is hosting a webinar to answer community banker questions about the mid-2023 launch of the FedNow instant payments service.
November 01, 2022 |
ICBA NewsWatch Today
Payments Instant Payments
Blog: ICBA's reimagined ThinkTECH Accelerator to support year-round programming
The decision to bring the highly successful ThinkTECH Accelerator program in-house and introduce year-round programming was the natural progression in ICBA’s efforts to cultivate successful community bank-fintech partnerships that address today’s market challenges and opportunities, writes Charles Potts in a new blog post.
October 28, 2022 |
ICBA NewsWatch Today
Technology
CFPB kicks off personal financial data rights rulemaking
The Consumer Financial Protection Bureau issued a discussion guide which outlined options to strengthen consumers’ access to, and control over, their financial data as a first step before issuing a proposed data rights rule that would implement section 1033 of the Dodd-Frank Act.
October 28, 2022 |
ICBA NewsWatch Today
Compliance
FDIC minority bank subcommittee meeting tomorrow
The FDIC Advisory Committee on Community Banking’s Minority Depository Institutions Subcommittee will convene at 1 p.m. (Eastern time) tomorrow, Oct. 25.
October 24, 2022 |
ICBA NewsWatch Today
MDI
ICBA pushback on FHFA capital standards rules makes headlines
ICBA’s joint letter urging the Federal Housing Finance Agency to align its capital standards with federal banking agencies was covered in PoliticoPro, American Banker, and Housing Wire.
October 24, 2022 |
ICBA NewsWatch Today
Capital Federal Housing Finance Agency
Court rules CFPB funding structure unconstitutional
A federal appeals court ruled that the Consumer Financial Protection Bureau's funding method is unconstitutional.
October 21, 2022 |
ICBA NewsWatch Today
Compliance
CFPB directs credit bureaus to screen for nonsensical data in credit reports
The Consumer Financial Protection Bureau issued guidance directing consumer reporting companies to take necessary steps to detect and remove conflicting or nonsensical “junk data” from consumer credit reports.
October 21, 2022 |
ICBA NewsWatch Today
Compliance
FDIC board meeting tomorrow on assessments, supervisory appeals
The FDIC scheduled a board meeting for tomorrow to vote on its ICBA-opposed proposals to dramatically increase deposit insurance assessments and to eliminate its Office of Supervisory Appeals.
October 17, 2022 |
ICBA NewsWatch Today
Deposit Insurance Deposit Insurance
Interchange measure cut from defense bill, but threat remains
While a must-pass defense bill excludes ICBA-opposed legislation that would create new credit card routing mandates, ICBA continues urging community bankers to speak out against the proposed Durbin Amendment expansion.
October 17, 2022 |
ICBA NewsWatch Today
Interchange
Fed’s Waller ‘highly skeptical’ of U.S. CBDC
Federal Reserve Governor Christopher Waller laid out his opposition to a U.S. central bank digital currency, saying he is “highly skeptical” of the need for a digital dollar.
October 17, 2022 |
ICBA NewsWatch Today
Digital Assets
ICBA Foundation continues seeking Hurricane Ian donations
The new ICBA Foundation Disaster Relief Program has raised more than $25,000 in its first 48 hours to assist community bank employees affected by Hurricane Ian—but more donations are needed from community bankers nationwide to support industry colleagues in Florida.
October 14, 2022 |
ICBA NewsWatch Today
Community Bank Awareness Crisis Preparedness
Defense bill leaves out interchange measure, but ICBA campaign continues
The Senate version of a must-pass defense bill introduced this week excludes ICBA-opposed legislation that would create new credit card routing mandates, though the threat of the Durbin Amendment expansion remains.
October 14, 2022 |
ICBA NewsWatch Today
Interchange Lending Payments
CFPB finds high fees on college-endorsed banking products
The Consumer Financial Protection Bureau published a report raising questions about whether some marketing deals between colleges and financial institutions comply with Department of Education rules.
October 14, 2022 |
ICBA NewsWatch Today
Compliance
Survey shows LIBOR transition work remains
The Alternative Reference Rates Committee released survey results that found most respondents indicated they have documented plans in place to remediate USD LIBOR business loans prior to LIBOR’s discontinuation June 30, 2023, though more work remains.
October 14, 2022 |
ICBA NewsWatch Today
Lending Small Business Lending
ICBA, state groups urge opposition to Durbin Amendment expansion
ICBA and 44 state community banking associations called on Congress to oppose legislation that would create new credit card routing mandates that expand on Durbin Amendment interchange restrictions.
October 12, 2022 |
ICBA NewsWatch Today
Credit Cards Payments
Edward Jones withdraws ILC application
The Edward Jones Investments parent company said it withdrew plans to establish the Edward Jones Bank ILC following recent conversations with the FDIC and Utah Department of Financial Institutions.
October 12, 2022 |
ICBA NewsWatch Today
Lending
Hsu: Agencies targeting crypto risks, interconnectedness
Acting Comptroller of the Currency Michael Hsu warned of risks posed by crypto-assets and laid out some of his priorities for bringing them within the regulatory perimeter.
October 12, 2022 |
ICBA NewsWatch Today
Digital Assets Technology
Digital Payments – New Conveniences, New Opportunities for Fraudsters
Though consumers have embraced ACH and wire transfers as essential ways to pay and move money, digital tools, such as Apple Pay and Google Pay wallets, Venmo and Cash App, and other digital convenience offerings have increasingly become popular payment methods for consumers due to their convenience and speed.
October 11, 2022 |
ICBA NewsWatch Today
Payments
Former Uber exec convicted for not disclosing breach
Uber’s former chief security officer was convicted of failing to disclose a 2016 data breach in the first criminal prosecution of an executive related to the handling of a breach.
October 07, 2022 |
ICBA NewsWatch Today
Data Breach Cybersecurity
ICBA proposes needed changes to CRE guidance update
ICBA issued a comment letter expressing support for an agency effort to provide clearer guidance on prudent commercial real estate loan accommodations and workouts while suggesting improvements to the proposal.
October 07, 2022 |
ICBA NewsWatch Today
Commercial Lending
Grassroots key amid interchange amendment push
With lawmakers working to include ICBA-opposed credit card legislation in a must-pass defense bill, ICBA is urging community bankers to continue the grassroots campaign against the interchange measure.
October 07, 2022 |
ICBA NewsWatch Today
Credit Cards Interchange
Grassroots critical as lawmakers seek to advance interchange bill
With Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan.) working to include their ICBA-opposed credit card legislation in a must-pass defense bill, ICBA is urging community bankers to continue the grassroots campaign against the interchange measure.
October 04, 2022 |
ICBA NewsWatch Today
Interchange
ICBA seeking Digital Assets Task Force nominations
ICBA is seeking submissions from volunteers to serve on a new Digital Assets Task Force to examine and deliberate issues related to central bank digital currency and digital assets, such as stablecoins.
October 04, 2022 |
ICBA NewsWatch Today
Digital Assets Technology
Gruenberg: Community bank climate strategies successful
Community banks have successfully employed strategies for managing climate-related financial risk, though the prevalence of risk will increase with climate change, FDIC Acting Chairman Martin Gruenberg said.
October 04, 2022 |
ICBA NewsWatch Today
Climate Community Bank Awareness
FinCEN issues final rule on beneficial ownership reporting
The Financial Crimes Enforcement Network issued a final rule establishing a beneficial ownership information reporting requirement.
September 30, 2022 |
ICBA NewsWatch Today
Compliance
As Hurricane Ian makes landfall, ICBA offers community bank resources
With Hurricane Ian making landfall in Florida as a Category 4 hurricane, ICBA offers updates on its Hurricane Preparedness resource center.
September 29, 2022 |
ICBA NewsWatch Today
Crisis Preparedness
Gruenberg: Community banks lead during downturns
FDIC Acting Chairman Martin Gruenberg reiterated his recent remarks that community banks have an outsized role in lending during times of distress and providing equitable access to financial services.
September 29, 2022 |
ICBA NewsWatch Today
Community Bank Awareness
Fed’s Bowman: Credit union acquisitions indicate need for merger rethink
Federal Reserve Governor Michelle Bowman said the increase in credit union acquisitions of taxpaying community banks indicates regulators should rethink how they evaluate bank mergers.
September 29, 2022 |
ICBA NewsWatch Today
Credit Unions
ICBA offers hurricane resources as Ian approaches
ICBA updated its Hurricane Preparedness resource center with the latest on Hurricane Ian. With Ian on pace to make landfall with the west coast of Florida early Friday, the page offers community bankers tools to help weather the storm.
September 27, 2022 |
ICBA NewsWatch Today
Crisis Preparedness
CFPB ending no-action-letter, sandbox policies
The Consumer Financial Protection Bureau is allowing its ICBA-supported policies on no-action letters and compliance assistance sandboxes to expire, cementing the agency’s transition away from Office of Innovation programs.
September 27, 2022 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Compliance
States demand crypto lender cease interest-bearing accounts
Several states announced cease-and-desist actions against cryptocurrency lender Nexo alleging that its interest-bearing accounts function as an unlicensed security.
September 27, 2022 |
ICBA NewsWatch Today
Digital Assets Technology
CFPB looks to spur automated mortgage refinancing, forbearance
The Consumer Financial Protection Bureau requested feedback on ways to spur new mortgage products that streamline and automate loan refinancing.
September 23, 2022 |
ICBA NewsWatch Today
Compliance
Nacha announces framework to fight credit-push fraud
Nacha released a new strategy for payments industry participants to address scams that deceive consumers into sending payments to fraudsters under false pretenses.
September 23, 2022 |
ICBA NewsWatch Today
Credit Cards Cybersecurity Technology Fraud
ICBA urging grassroots messages opposing Durbin Amendment expansion
With ICBA-opposed legislation to expand on the Durbin Amendment now introduced in both the House and Senate, ICBA is calling on community bankers to continue the grassroots campaign against the anti-consumer bill.
September 23, 2022 |
ICBA NewsWatch Today
Lending Payments
ICBA urges House to reject Durbin Amendment expansion
ICBA told House leaders it strongly opposes the Credit Card Competition Act of 2022 (H.R. 8874), controversial legislation to create new credit card routing mandates that expand on Durbin Amendment interchange restrictions.
September 22, 2022 |
ICBA NewsWatch Today
Lending Payments
Fed raises rates as projections reflect impact
The Federal Open Market Committee raised the federal funds rate target by another 75 basis points and released updated projections reflecting the impact of its campaign against inflation.
September 22, 2022 |
ICBA NewsWatch Today
Inflation
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