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.
ICBA urges CFPB to limit burden of rulemaking on consumer data
ICBA called on the Consumer Financial Protection Bureau to limit the regulatory burden of its pending rulemaking to establish standards for sharing consumer financial data.
January 27, 2023 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Compliance
ICBA meets with Waters on CDFI certification changes
ICBA continued its campaign opposing changes to the Community Development Financial Institution certification application during a meeting with House Financial Services Committee Ranking Member Maxine Waters (D-Calif.).
January 27, 2023 |
ICBA NewsWatch Today
CDFI MDI
ICBA announces passing of former chief executive Ken Guenther
ICBA is mourning the passing of former ICBA President and CEO Ken Guenther, who died Wednesday. Guenther’s fierce passion for community banking has served as an inspiration for many in the industry.
January 27, 2023 |
ICBA NewsWatch Today
Community Bank Awareness
NCUA extends credit union interest rate ceiling
The National Credit Union Administration board voted to extend the 18% interest rate ceiling for loans made by federal credit unions through Sept. 10, 2024.
January 27, 2023 |
ICBA NewsWatch Today
Credit Unions
Senators echo concerns with CDFI application change
Senate Banking Committee members Mark Warner (D-Va.) and Mike Crapo (R-Idaho) encouraged the Treasury Department to consider all comments responding to its proposal to revise Community Development Financial Institution certification application and reporting requirements.
January 23, 2023 |
ICBA NewsWatch Today
CDFI Department of Treasury
ICBA urges CFPB to preempt state TILA law
The Consumer Financial Protection Bureau was incorrect in determining that the Truth in Lending Act does not preempt a recently enacted New York State disclosure law, ICBA said in a new comment letter.
January 23, 2023 |
ICBA NewsWatch Today
Compliance
ICBA, groups to CFPB: Seek input on review of credit card late fee safe harbor
ICBA and other groups called on the Consumer Financial Protection Bureau to comply with the Small Business Regulatory Enforcement Fairness Act as it considers reducing or eliminating the safe harbor fee that credit card issuers may charge to avoid scrutiny of their fees as unreasonable.
January 23, 2023 |
ICBA NewsWatch Today
Compliance Credit Cards
FHFA announces Fannie, Freddie fee updates
Fannie Mae and Freddie Mac will reduce their upfront fee for commingled securities to 9.375 basis points after announcing a 50-point fee last year, the Federal Housing Finance Agency announced.
January 20, 2023 |
ICBA NewsWatch Today
Secondary Mortgage Market Secondary Mortgage Market
Brainard: Fed ‘staying the course’ in tackling inflation
The Federal Reserve is “determined to stay the course” to address inflation and restore price stability, Fed Vice Chair Lael Brainard said.
January 20, 2023 |
ICBA NewsWatch Today
Inflation
CFPB issues guidance on ‘negative option’ subscriptions
The Consumer Financial Protection Bureau issued a circular affirming that companies offering “negative option” subscription services must comply with federal consumer financial protection law.
January 20, 2023 |
ICBA NewsWatch Today
Compliance
FinCEN announces BSA penalty inflation adjustments
The Financial Crimes Enforcement Network today is set to issue a final rule to reflect annual inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990.
January 19, 2023 |
ICBA NewsWatch Today
Compliance
CFPB updates mortgage servicing exam procedures
The Consumer Financial Protection Bureau released updated mortgage servicing examination procedures for use by CFPB examiners.
January 19, 2023 |
ICBA NewsWatch Today
Compliance
OCC details civil money penalty adjustment
The OCC issued a bulletin on its adjustment to the maximum amount of each civil money penalty within its jurisdiction.
January 18, 2023 |
ICBA NewsWatch Today
Compliance
ICBA updates advocacy dashboard with top priorities
ICBA updated its “Advocacy in Action” government relations dashboard for the first quarter with the latest community banking advocacy successes and priorities.
January 17, 2023 |
ICBA NewsWatch Today
Advocacy
‘Tell Your Story’ Toolkit offers resources for 2023
ICBA’s complimentary "Tell Your Story" Marketing Communications Toolkit offers new and updated resources to help community banks plan for the year ahead.
January 17, 2023 |
ICBA NewsWatch Today
Marketing
FinCEN issues alert on human smuggling at southwest border
The Financial Crimes Enforcement Network issued an alert to support financial institutions in detecting financial activity related to human smuggling along the southwest border of the United States.
January 17, 2023 |
ICBA NewsWatch Today
Compliance
FinCEN requests comment on beneficial ownership information reporting
The Financial Crimes Enforcement Network today is slated to request public comments on two notices related to beneficial ownership information reporting, with comments due by March 20.
January 17, 2023 |
ICBA NewsWatch Today
Technology Fintech Regulation
OCC issues revised fair lending booklet
The OCC issued a revised version of the “Fair Lending” booklet of the Comptroller’s Handbook.
January 13, 2023 |
ICBA NewsWatch Today
Compliance
ICBA, state groups meet with Treasury on key issues
ICBA and affiliated state community banking associations met this week with Treasury Department officials to discuss BSA/AML compliance, Corporate Transparency Act implementation, the impact of de-risking the financial system on financial inclusion, and other issues.
January 13, 2023 |
ICBA NewsWatch Today
Department of Treasury
House Financial Services subcommittee chairs named
House Financial Services Committee Chairman Patrick McHenry (R-N.C.) announced the panel’s subcommittees, chairs, and jurisdiction for the 118th Congress.
January 13, 2023 |
ICBA NewsWatch Today
Congressional Matters
CFPB proposes nonbank registry of form contract terms
The Consumer Financial Protection Bureau proposed a rule to establish a public registry of supervised nonbanks’ terms and conditions in “take it or leave it” form contracts.
January 12, 2023 |
ICBA NewsWatch Today
Compliance
USDA expands eligibility for emergency programs
The USDA’s Farm Service Agency expanded eligibility and enhanced available benefits for several programs that provide support following natural disasters.
January 11, 2023 |
ICBA NewsWatch Today
Agriculture Climate Risk
Fed’s Bowman: Regulators shouldn’t hinder crypto innovation
Federal Reserve Governor Michelle Bowman said that while crypto-assets can pose significant risks to consumers and the financial system, regulators should avoid hindering innovation.
January 11, 2023 |
ICBA NewsWatch Today
Digital Assets Technology
Powell: Fed climate responsibilities narrow
Federal Reserve Chair Jerome Powell said the Fed has narrow responsibilities regarding climate-related financial risks, while broader climate policies should be made by elected officials.
January 11, 2023 |
ICBA NewsWatch Today
Climate
CFPB planning ‘pre-rule’ overdraft activity: agenda
The Biden Administration’s Office of Information and Regulatory Affairs published the regulatory agencies’ fall 2022 rulemaking agenda.
January 06, 2023 |
ICBA NewsWatch Today
Compliance
CFPB accepting HMDA data submissions
The Consumer Financial Protection Bureau said its filing period for Home Mortgage Disclosure Act data collected in 2022 opened on Jan. 1. Submissions will be considered timely if received on or before Wednesday, March 1.
January 05, 2023 |
ICBA NewsWatch Today
Compliance
GSE Form 1103, fair lending requirements effective March 1
Fannie Mae and Freddie Mac are reminding lenders that they will require the Supplemental Consumer Information Form (Form 1103) for new conventional loans with application dates on or after March 1.
January 05, 2023 |
ICBA NewsWatch Today
Compliance
Banking agencies issue new crypto guidance
Federal banking regulators issued a statement highlighting key crypto risks for banking organizations and describing the agencies’ approaches to supervision in this area.
January 04, 2023 |
ICBA NewsWatch Today
Compliance
Bolton: Wells Fargo penalty reflects too-big-to-fail plague
The Consumer Financial Protection Bureau’s latest penalty against Wells Fargo Bank reflects the unfortunate fact that the too-big-to-fail problem is alive and well, ICBA Chairman Brad Bolton wrote in an op-ed on LinkedIn.
January 03, 2023 |
ICBA NewsWatch Today
Too-Big-To-Fail/Systemic Risk
CFPB updates TILA thresholds
The Consumer Financial Protection Bureau issued a final rule amending the official interpretations for Regulation Z, which implements the Truth in Lending Act, to update the dollar amounts of various thresholds that it must adjust annually.
January 03, 2023 |
ICBA NewsWatch Today
Compliance
CFPB adjusts asset-size thresholds
The Consumer Financial Protection Bureau issued three annual threshold adjustment final rules.
January 03, 2023 |
ICBA NewsWatch Today
Compliance
Romero Rainey: ICBA, community bankers stand together in 2022
ICBA President and CEO Rebeca Romero Rainey said ICBA and community bankers this year proved once again to be effective advocates in Washington.
December 23, 2022 |
ICBA NewsWatch Today
Community Bank Awareness Interchange Lending
Boston Fed, MIT end CBDC research project
The Federal Reserve Bank of Boston and MIT concluded their joint Project Hamilton research project into the technical feasibility of a potential U.S. central bank digital currency.
December 23, 2022 |
ICBA NewsWatch Today
Digital Assets Technology
Toomey bill would allow Fed master accounts for stablecoin issuers
Retiring Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) introduced legislation on stablecoin regulation, contributing to the debate over crypto oversight that will resume during the next Congress.
December 23, 2022 |
ICBA NewsWatch Today
Digital Assets
ICBA response to New York climate proposal making news
ICBA’s pushback against New York State Department of Financial Services proposed guidance on climate risk is making headlines.
December 23, 2022 |
ICBA NewsWatch Today
Climate
ICBA pledges to ensure community bank voice is heard on FDIC board
Following the Senate confirmation of FDIC board members, including FDIC Acting Chairman Martin Gruenberg’s nomination for chairman, ICBA released a statement pledging to work with the officials on behalf of the nation’s community banks.
December 21, 2022 |
ICBA NewsWatch Today
Community Bank Awareness
ICBA to Congress: CDFI Fund proposal would harm communities
ICBA and other groups requested a meeting with members of Congress to discuss a Treasury Department proposal that would reduce access to services provided by Community Development Financial Institutions Fund-certified depository institutions.
December 21, 2022 |
ICBA NewsWatch Today
Department of Treasury
Durbin Amendment expansion out of congressional omnibus
Congress left out of its end-of-year omnibus spending bill numerous ICBA-opposed legislative initiatives, including language to extend the Durbin Amendment to credit cards.
December 21, 2022 |
ICBA NewsWatch Today
Lending
CFPB updates HELOC brochure
The Consumer Financial Protection Bureau issued an update to its “What you should know about home equity lines of credit” brochure.
December 19, 2022 |
ICBA NewsWatch Today
Compliance
NCUA chief backs bill to tighten credit union cyber oversight
The head of the National Credit Union Administration called on Congress to pass ICBA-advocated legislation that would authorize the agency to examine credit union third-party service providers for cyber risk.
December 19, 2022 |
ICBA NewsWatch Today
Credit Unions Cybersecurity
New bill would establish national data breach standard
Rep. Blaine Luetkemeyer (R-Mo.) reintroduced ICBA-advocated legislation to establish a national data breach notification standard.
December 19, 2022 |
ICBA NewsWatch Today
Cybersecurity Technology
ICBA urges agency collaboration to support underserved communities
ICBA encouraged the Treasury Department’s newly formed Interagency Community Investment Committee to promote agency collaboration as it works to support access to affordable capital and financial services in historically underserved communities.
December 19, 2022 |
ICBA NewsWatch Today
Department of Treasury
FinCEN proposes rule on accessing beneficial ownership info
The Financial Crimes Enforcement Network issued a proposed rule governing access to and protection of beneficial ownership information.
December 16, 2022 |
ICBA NewsWatch Today
Technology Fintech Regulation
Regulators adopt Fair Debt Collection Practices Act exam procedures
The Federal Financial Institutions Examination Council’s Task Force on Consumer Compliance adopted revised examination procedures for the Fair Debt Collection Practices Act and its implementing Regulation F.
December 16, 2022 |
ICBA NewsWatch Today
Compliance
ICBA backs ‘same risk, same regulation’ approach to crypto oversight
ICBA said it strongly supports the Financial Stability Board’s approach to international crypto-asset regulation that is based on the principle of “same activity, same risk, same regulation.”
December 16, 2022 |
ICBA NewsWatch Today
Digital Assets Technology
ICBA continues grassroots push as Congress debates omnibus
With Congress debating end-of-year omnibus spending legislation, ICBA continues calling on community bankers to reach out to lawmakers on ICBA-advocated cannabis banking legislation and ICBA-opposed language to expand the Durbin Amendment.
December 16, 2022 |
ICBA NewsWatch Today
Cannabis banking Lending
N.Y. banking agency issues crypto guidance
The New York Department of Financial Services released guidance for New York-regulated banking organizations that wish to engage in virtual currency-related activities.
December 16, 2022 |
ICBA NewsWatch Today
Compliance
ICBA op-ed: FDIC should draw down assessment rate increase
With the Federal Reserve's interest rate hikes hastening the normalization of deposits, the FDIC should respond by quickly drawing down its assessment rate increase, ICBA Chairman Brad Bolton wrote in a new op-ed.
December 13, 2022 |
ICBA NewsWatch Today
FS-ISAC spotlights Cuba ransomware, smash-and-grab mitigation
The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary spotlights the recent Joint Cybersecurity Advisory on Cuba ransomware variants.
December 13, 2022 |
ICBA NewsWatch Today
Cybersecurity Technology
Grassroots needed on cannabis banking, Durbin Amendment
While the National Defense Authorization Act excludes ICBA-advocated cannabis banking legislation and ICBA-opposed language to expand the Durbin Amendment, the debate over both initiatives continues.
December 13, 2022 |
ICBA NewsWatch Today
Cannabis banking Lending
CFPB: TILA doesn’t preempt N.Y. disclosure law
The Consumer Financial Protection Bureau issued a preliminary determination that the Truth in Lending Act does not preempt a New York state law requiring commercial financing disclosures.
December 09, 2022 |
ICBA NewsWatch Today
Compliance
ICBA urges passage of new Senate bill to close ILC loophole
ICBA expressed strong support for the introduction of Senate legislation to close the industrial loan company loophole.
December 07, 2022 |
ICBA NewsWatch Today
Lending
Grassroots heating up as lame-duck Congress winds down
As Congress considers must-pass end-of-year legislation, ICBA is calling on community bankers to contact their members of Congress on top advocacy priorities.
December 07, 2022 |
ICBA NewsWatch Today
Cannabis banking Lending
CFPB issues guidance on HMDA enforcement following court ruling
The Consumer Financial Protection Bureau released Home Mortgage Disclosure Act enforcement guidance following a recent court ruling vacating its 2020 HMDA final rule.
December 07, 2022 |
ICBA NewsWatch Today
Mortgage Rules
Grassroots key as Senate cannabis banking debate ramps up
With the debate over ICBA-advocated cannabis banking legislation picking up as some policymakers express concerns and others confidence in the bill's passage, ICBA is urging community bankers to continue speaking out to their members of Congress.
December 05, 2022 |
ICBA NewsWatch Today
Cannabis banking
ICBA, groups urge Congress to oppose SBA's proposed 7(a) changes
ICBA and other groups called on Congress to oppose Small Business Administration proposals to detrimentally reform its 7(a) lending program.
December 05, 2022 |
ICBA NewsWatch Today
Lending Small Business Administration
ICBA: PPP report validates that community banks are superior alternative to nonbanks
ICBA said a congressional report on financial technology participants in the Paycheck Protection Program validates that community banks were the unequivocal leaders of the U.S. economic recovery during the pandemic.
December 05, 2022 |
ICBA NewsWatch Today
Community Bank Awareness
ICBA to regulators: Ensure CRA reform minimizes new burdens
With FDIC Acting Chairman Martin Gruenberg telling Congress this week that he expects regulators to release a final rule modernizing Community Reinvestment Act regulations during the early part of next year, ICBA reiterated its call for the federal banking agencies to issue a uniform rule that minimizes new data collection and reporting burdens for community banks.
December 02, 2022 |
ICBA NewsWatch Today
CRA
Community bank net income rises 13.5% in Q3
Community banks reported a 13.5% increase in net income during the third quarter from the previous quarter and a 3.9% increase from a year ago, according to the FDIC's latest Quarterly Banking Profile.
December 02, 2022 |
ICBA NewsWatch Today
Community Bank Awareness
Lawmakers urge FHFA to align capital standards with banking agencies
ICBA expressed support for a new bipartisan letter from members of Congress urging the Federal Housing Finance Agency to align its capital rules with those of federal banking regulators to avoid penalizing community banks for supporting local communities during the COVID-19 pandemic.
December 02, 2022 |
ICBA NewsWatch Today
Capital Regulatory Compliance
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