ICBA Newsroom
The ICBA Newsroom collects and centralizes all the NewsWatch Today articles, press releases, blog posts, advocacy letters and other news that impacts community bankers.
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
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 Compliance
OCC cuts 2023 assessments
The OCC published its assessment rates for the 2023 calendar year, reducing the rates in its general assessment fee schedule and maintaining its 2022 rates for the independent trust and independent credit card fee schedules.
December 02, 2022 |
ICBA NewsWatch Today
Gruenberg: Expect CRA rule early part of next year
FDIC Acting Chairman Martin Gruenberg told lawmakers he anticipates regulators will release a final rule reforming Community Reinvestment Act regulations during the early part of next year.
December 01, 2022 |
ICBA NewsWatch Today
Compliance
ICBA urging grassroots outreach on cannabis banking bill
ICBA is calling on community bankers to urge their members of Congress to pass legislation before year-end that would establish a cannabis banking safe harbor in states where cannabis is legal.
November 30, 2022 |
ICBA NewsWatch Today
Cannabis banking
Senate Finance chair questions crypto exchanges following FTX failure
Washington continued to escalate its response to instability in the crypto sector as the Senate Finance Committee’s chairman questioned leading crypto exchanges on their consumer protections.
November 30, 2022 |
ICBA NewsWatch Today
Cybersecurity Digital Assets Technology
ICBA to CFPB: Promote mortgage refinancing by reducing reg burdens
ICBA responded to a Consumer Financial Protection Bureau request for information on encouraging residential mortgage loan refinances by calling on the bureau to reduce unnecessary compliance burdens for community banks.
November 30, 2022 |
ICBA NewsWatch Today
CFPB issues annual adjustment for file disclosure charges
The Consumer Financial Protection Bureau issued a final rule with its annual adjustment to the maximum amount consumer reporting agencies may charge consumers for making a file disclosure to a consumer under the Fair Credit Reporting Act.
November 28, 2022 |
ICBA NewsWatch Today
Compliance
ICBA post-election briefing next week
ICBA next week is hosting a complimentary post-election briefing on the midterm election results and pending regulatory actions affecting community banks.
November 28, 2022 |
ICBA NewsWatch Today
Community Bank Awareness
Living will deficiencies at Citi as regulators push more stringent approach
The FDIC and Federal Reserve released results of their review of the resolution plans of the eight largest and most complex U.S. banks, finding shortcomings only in Citigroup’s living will.
November 28, 2022 |
ICBA NewsWatch Today
ICBA pressing cannabis banking, other priorities as Congress returns
With Congress returning to Washington this week for the final leg of the lame-duck session, ICBA is pushing several key legislative priorities and calling on community bankers to weigh in with lawmakers via ICBA’s Be Heard grassroots action center.
November 28, 2022 |
ICBA NewsWatch Today
Cannabis banking Interchange Lending
Op-ed: Crypto response must protect banking system stability
The collapse of the FTX cryptocurrency exchange is a predictable example of the serious risks that digital assets pose, and policymakers should ensure new policies directed at the sector fully reflect its risks, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed.
November 22, 2022 |
ICBA NewsWatch Today
Digital Assets Technology
Revamped podcast explores future of ICBA ThinkTECH
ICBA released the latest episode of its newly revamped podcast: “Independent Banker: A Community Banking Podcast from ICBA.”
November 22, 2022 |
Podcast
Technology
DOJ announces arrests in $575M crypto fraud
The Justice Department announced the arrest of two Estonian citizens for their alleged involvement in a $575 million cryptocurrency fraud and money-laundering conspiracy.
November 22, 2022 |
ICBA NewsWatch Today
Digital Assets Technology
FHA now accepting private flood insurance
The Federal Housing Administration said it will accept private flood insurance policies in which the borrower chooses to obtain a private policy instead of flood insurance available through the National Flood Insurance Program, effective Dec. 21.
November 22, 2022 |
ICBA NewsWatch Today
Flood Insurance Compliance
CFPB report targets credit bureaus, mortgage servicers
The Consumer Financial Protection Bureau issued a new Supervisory Highlights report spotlighting legal violations identified during its supervisory examinations in the first half of 2022.
November 17, 2022 |
ICBA NewsWatch Today
Compliance
Regulators investigating FTX crypto exchange amid liquidity crisis: report
Federal regulators are reportedly investigating cryptocurrency exchange FTX amid concerns of a liquidity crisis at the company and fallout on the rest of the crypto sector.
November 10, 2022 |
ICBA NewsWatch Today
Digital Assets Technology
Lawmakers push Durbin Amendment expansion in 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 10, 2022 |
ICBA NewsWatch Today
Interchange Lending Payments
Senate’s Warren continues push for bank data on Zelle fraud
Sen. Elizabeth Warren (D-Mass.) this week sent letters to Wells Fargo and Early Warning Services—the parent company of the Zelle peer-to-peer payment platform—criticizing their response to her recent report on P2P fraud.
November 10, 2022 |
ICBA NewsWatch Today
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 1071
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
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