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.
Community bank customers weigh in on IRS monitoring
Community bank customers have joined the industry in expressing opposition to the Biden administration’s proposal to require banks to report their customers’ account information to the IRS.
September 01, 2021 |
ICBA NewsWatch Today
Taxes & Budget
Financial Times: Community banks ‘irreplaceable’ during pandemic
A new Financial Times article (paywall) reports on how community banks have been “irreplaceable” during the pandemic, including by leading the Paycheck Protection Program response.
August 31, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Agencies issue statement on Hurricane Ida
Federal and state regulators said they will provide appropriate regulatory assistance to institutions affected by Hurricane Ida.
August 31, 2021 |
ICBA NewsWatch Today
Advocacy Risk
ICBA testifying on PPP forgiveness
ICBA Chairman Robert Fisher is scheduled to testify this Wednesday at a House Small Business Committee hearing on what’s next for Paycheck Protection Program forgiveness.
August 30, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
ARRC issues FAQs on LIBOR transition best practices
The Alternative Reference Rates Committee released frequently asked questions on its best practices for using Secured Overnight Financing Rate term rates.
August 30, 2021 |
ICBA NewsWatch Today
Lending
ICBA continues IRS reporting consumer push
ICBA continues encouraging consumers to express opposition to the Biden administration’s proposal to require banks to report their customers’ account information to the IRS.
August 30, 2021 |
ICBA NewsWatch Today
Taxes & Budget
ICBA urging consumer opposition to IRS reporting plan
ICBA is encouraging consumers to express opposition to the Biden administration’s proposal to require banks to report their customers’ account information to the IRS.
August 27, 2021 |
ICBA NewsWatch Today
Taxes & Budget
Credit union-bank acquisitions top 100
ICBA renewed its call for policymakers to examine the credit union tax exemption as the number of credit union-bank acquisitions passed 100.
August 27, 2021 |
ICBA NewsWatch Today
Credit Unions
ICBA to HUD: Disparate-impact rule must conform to court ruling
ICBA and other groups expressed opposition to a Department of Housing and Urban Development proposal to re-implement its 2013 rule on discriminatory effects.
August 25, 2021 |
ICBA NewsWatch Today
Housing Finance/GSEs
Nacha ACH modernization rules effective next month
Nacha “Meaningful Modernization” changes to improve and simplify the ACH user experience are scheduled to take effect next month.
August 25, 2021 |
ICBA NewsWatch Today
ACH Payments
ICBA offers hurricane resources
ICBA updated its Hurricane Preparedness resource center with the latest on Hurricane Grace and Tropical Storm Henri.
August 23, 2021 |
ICBA NewsWatch Today
Advocacy
CFPB issues credit card data-submission specifications
The Consumer Financial Protection Bureau issued new technical specifications for complying with credit card agreement and data submission requirements under TILA and the CARD Act (Regulation Z).
August 23, 2021 |
ICBA NewsWatch Today
Compliance
Refinancing drives 2020 increase in closed-end originations: CFPB
The total number of closed-end originations and applications increased substantially between 2019 and 2020, according to a Consumer Financial Protection Bureau report on Home Mortgage Disclosure Act data.
August 20, 2021 |
ICBA NewsWatch Today
Compliance
FinCEN offers SAR trend data
The Financial Crimes Enforcement Network’s interactive Suspicious Activity Report webpage now includes filing trend data by industry through the 2020 calendar year.
August 20, 2021 |
ICBA NewsWatch Today
Cybersecurity Technology
2022 ThinkTECH Accelerator open for applications
ICBA and The Venture Center launched the application period for the 2022 ICBA ThinkTECH Accelerator program.
August 20, 2021 |
ICBA NewsWatch Today
Technology
Farm Credit assets top $407B
Farm Credit System assets rose to more than $407 billion during the second quarter from nearly $385 billion the same time last year, according to Farm Credit Administration data.
August 20, 2021 |
ICBA NewsWatch Today
Agriculture Rural Development
Farm Credit releases YBS data, new reg agenda
The Farm Credit System’s regulator released updated data on its lending to young, beginning, and small farmers as well as a regulatory plan for the next 12 to 24 months.
August 16, 2021 |
ICBA NewsWatch Today
Agriculture Rural Development
Treasury plans child tax credit mobile sign-up
The Treasury Department and IRS released details of the second round of Advance Child Tax Credit payments and said they are working on a sign-up tool for mobile devices.
August 16, 2021 |
ICBA NewsWatch Today
Taxes & Budget
ICBA joins FDIC ‘tech sprint’
The FDIC said ICBA will be among the teams participating in the agency’s “tech sprint” designed to help banks serve unbanked consumers. ICBA will join the Milken Institute and Sunrise Banks on team iLluMInate.
August 13, 2021 |
ICBA NewsWatch Today
Technology Fintech Innovation
HUD, FHFA collaborate on fair housing, lending
The Department of Housing and Urban Development and the Federal Housing Finance Agency announced an agreement regarding fair housing and fair lending coordination.
August 13, 2021 |
ICBA NewsWatch Today
Housing Finance/GSEs
Treasury issues guidance on MDI, CDFI program
The Treasury Department released revised guidance on its Emergency Capital Investment Program to support minority and community development financial institutions.
August 13, 2021 |
ICBA NewsWatch Today
MDI
Senate blocks amendment to stop IRS monitoring on party-line vote
The Senate voted down an ICBA-advocated amendment that would have barred the IRS from using funds in a pending spending bill to monitor bank customers’ financial transactions.
August 11, 2021 |
ICBA NewsWatch Today
Taxes & Budget
CFPB: Mortgage servicers’ pandemic response varies significantly
The Consumer Financial Protection Bureau published a report detailing the mortgage industry’s varied response to the pandemic.
August 11, 2021 |
ICBA NewsWatch Today
Compliance
PPP non-employer borrowers most successful with community banks: study
Small businesses without employees were most successful in obtaining Paycheck Protection Program funding from community banks and were the most satisfied with the support they received during the pandemic compared to large banks and credit unions.
August 06, 2021 |
ICBA NewsWatch Today
Crisis Preparedness Lending
CFPB updates mortgage servicing small entity compliance guide
The Consumer Financial Protection Bureau updated its Mortgage Servicing Small Entity Compliance Guide to include guidance on the 2021 Mortgage Servicing COVID-19 final rule and the 2020 Mortgage Servicing COVID-19 interim final rule.
August 06, 2021 |
ICBA NewsWatch Today
Compliance Compliance
CFPB interpretive rule re: Juneteenth 2021
The Consumer Financial Protection Bureau issued an interpretive rule to address certain time-sensitive borrower protections related to the treatment of June 19, 2021 as a business day or federal holiday.
August 06, 2021 |
ICBA NewsWatch Today
Compliance
LEAD FWD lineup taking shape
The speaker lineup for the ICBA LEAD FWD Summit, live-streaming Sept. 21-22, is taking shape with the announcement of Precious Williams, a 13-time national pitch champion as the Day 2 keynote speaker.
August 05, 2021 |
ICBA NewsWatch Today
August recess offers opportunity to connect with Congress
The best way to influence policymakers is to get in front of them in-person, according to the Congressional Management Foundation and the August recess is the best time to schedule an in-district meeting.
August 05, 2021 |
ICBA NewsWatch Today
Advocacy
OCC, SEC discuss the state of cryptocurrency
In separate events, Securities and Exchange Chairman Gary Gensler and Acting Comptroller of the Currency Michael Hsu discussed efforts underway to adapt to the digitization of banking and finance.
August 04, 2021 |
ICBA NewsWatch Today
Digital Assets Technology Fintech Regulation
ICBA: Congress needs to examine credit union-community bank acquisitions
ICBA urged the Senate Banking Committee to re-examine the anti-competitive effect from the surge in credit union acquisitions of taxpaying community banks and the permissive oversight of the National Credit Union Administration.
August 04, 2021 |
ICBA NewsWatch Today
Credit Unions
Regulators provide state of the industry report to Congress
Agency heads from the FDIC, OCC, and the NCUA provided a state of the industry update during testimony before the Senate Banking Committee yesterday.
August 04, 2021 |
ICBA NewsWatch Today
Advocacy Technology Fintech Regulation
ICBA, others seek comment extension on third-party guidance
ICBA and other groups requested a 30-day comment extension on proposed interagency guidance designed to help banks manage risks associated with third-party relationships, including with fintechs.
August 02, 2021 |
ICBA NewsWatch Today
Technology Fintech Regulation
CFPB: Debt collection rules effective Nov. 30
The Consumer Financial Protection Bureau said two final rules issued under the Fair Debt Collection Practices Act will take effect as planned on Nov. 30.
August 02, 2021 |
ICBA NewsWatch Today
Compliance
Agencies extend foreclosure moratoria
The federal government extended the moratorium on single-family real estate owned evictions until Sept. 30 for Fannie Mae, Freddie Mac, the Federal Housing Administration, and the USDA.
August 02, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
House committee advances LIBOR, de novo bills
The House Financial Services Committee this week advanced key ICBA-supported LIBOR and de novo bills.
July 30, 2021 |
ICBA NewsWatch Today
De Novo Banks
Op-ed targets justification for IRS reporting plan
A new Morning Consult op-ed raises questions about the Treasury Department’s estimated tax revenue increase from its proposal to expand information reporting on bank customers.
July 30, 2021 |
ICBA NewsWatch Today
Taxes & Budget
Lawmakers to CFPB: Consider impact of 1071 reporting
House Financial Services Committee Republicans called on the Consumer Financial Protection Bureau to consider the impact on small institutions as it develops a proposed rule on small-business data collection and reporting.
July 30, 2021 |
ICBA NewsWatch Today
Compliance
SBA issues rule to expedite PPP forgiveness
The SBA issued an interim final rule designed to speed up the forgiveness process for Paycheck Protection Program loans of $150,000 or less.
July 29, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Groups join ICBA opposition to IRS reporting proposal
ICBA and a broad coalition of business groups expressed strong opposition to a proposal that would require financial institutions to report information on customer bank accounts to the IRS.
July 29, 2021 |
ICBA NewsWatch Today
Taxes & Budget
CFPB launches tool to help renters, landlords access federal assistance
The Consumer Financial Protection Bureau released an online tool to help renters and landlords affected by the pandemic find and apply for payment assistance for rent, utilities, and other expenses.
July 29, 2021 |
ICBA NewsWatch Today
Compliance
Gensler: SEC regs apply to securities-backed crypto assets
Securities and Exchange Commission Chair Gary Gensler said securities regulations apply to platforms that offer crypto tokens or other products that are priced off the value of securities and operate like derivatives.
July 23, 2021 |
ICBA NewsWatch Today
Fintech Regulation SEC
ICBA to Congress: Don’t raise g-fees for infrastructure funding
ICBA and other organizations called on Senate infrastructure negotiators to refrain from using Fannie Mae and Freddie Mac guarantee fees as a source of funding.
July 23, 2021 |
ICBA NewsWatch Today
Mortgage Rules FHLB Housing Finance/GSEs
Nacha launches program for returning unemployment benefits
Nacha launched an opt-in program to facilitate the return and recovery of potentially fraudulent unemployment benefits originally paid by ACH credits.
July 23, 2021 |
ICBA NewsWatch Today
ACH
OCC to propose rescinding CRA rule
The OCC said it will propose rescinding its May 2020 Community Reinvestment Act rule and work with other agencies on a joint rulemaking.
July 22, 2021 |
ICBA NewsWatch Today
Compliance
CFPB settlement sets Sept. 30 deadline for 1071 proposal
A lawsuit on the Consumer Financial Protection Bureau’s implementation of small-business data collection and reporting rules determined that the bureau will issue a proposed rulemaking by Sept. 30, 2021, according to the Ballard Spahr law firm.
July 20, 2021 |
ICBA NewsWatch Today
Compliance
FHFA eliminates ICBA-opposed GSE fee
ICBA welcomed the Federal Housing Finance Agency’s announcement that it will eliminate an ICBA-opposed fee on refinance loans delivered to the government-sponsored enterprises.
July 19, 2021 |
ICBA NewsWatch Today
FHLB Federal Housing Finance Agency Regulatory Relief
CFPB cautions consumers on ‘buy now, pay later’
The Consumer Financial Protection Bureau recently published a blog post for consumers on buy-now-pay-later credit.
July 19, 2021 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Digital Assets
ICBA launches fintech investment fund
ICBA is forming BankTech Ventures, an investment fund designed to accelerate technology opportunities and adoption at community banks.
July 19, 2021 |
ICBA NewsWatch Today
Fintech Innovation
ICBA: Postal banking designed to fail
Postal banking is a risky venture for which the U.S. Postal Service is ill suited, ICBA told Congress in its latest issue brief.
July 16, 2021 |
ICBA NewsWatch Today
Government Banks Postal Service Banking
ICBA urges grassroots on rural lending tax relief
Following the recent Senate introduction of legislation to provide rural lending tax relief, ICBA is calling on community bankers to urge their lawmakers in both chambers of Congress to co-sponsor the measure.
July 16, 2021 |
ICBA NewsWatch Today
Agriculture Rural Development
FASB to pursue further CECL improvements
The Financial Accounting Standards Board this week agreed to add a project to its technical agenda to investigate the suspension of troubled debt restructuring accounting for entities that have adopted the Current Expected Credit Losses accounting standard.
July 16, 2021 |
ICBA NewsWatch Today
CECL Audit
Child Tax Credit payments start today
The IRS today begins distributing Advance Child Tax Credit payments authorized by the American Rescue Plan.
July 15, 2021 |
ICBA NewsWatch Today
Taxes & Budget
FDIC, CFPB update financial education curriculum
The FDIC and Consumer Financial Protection Bureau released an enhanced version of the Money Smart for Older Adults financial education curriculum.
July 15, 2021 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
CISA warns of Microsoft Print Spooler vulnerability
The Cybersecurity and Infrastructure Security Agency issued Emergency Directive 21-04 on mitigating a vulnerability in the Microsoft Windows Print Spooler service.
July 15, 2021 |
ICBA NewsWatch Today
Risk Cybersecurity
Agencies propose guidance on third-party relationships
Federal banking regulators proposed interagency guidance designed to help banks manage risks associated with third-party relationships, including those with fintech entities.
July 14, 2021 |
ICBA NewsWatch Today
Compliance
ICBA minority bank council opposes IRS reporting plan
ICBA’s Minority Bank Advisory Council today is expressing strong opposition to the Biden administration’s proposal to require banks to report customer account information to the IRS.
July 12, 2021 |
ICBA NewsWatch Today
Taxes & Budget
White House directs tougher scrutiny of bank mergers
President Joe Biden directed the Justice Department and federal banking regulators to more closely scrutinize bank mergers and make it easier for customers to switch banks.
July 12, 2021 |
ICBA NewsWatch Today
Commerce & Banking
Former NCUA official criticizes credit union bank purchases
A former National Credit Union Administration official this week raised concerns over credit union acquisitions of community banks.
July 09, 2021 |
ICBA NewsWatch Today
Congress pushes back on IRS reporting plan
House Ways and Means Committee Republicans issued a fact sheet pushing back on the Biden administration’s proposal to require banks to report customer account information to the IRS.
July 09, 2021 |
ICBA NewsWatch Today
Taxes & Budget
CFPB launches housing insecurity media toolkit
The Consumer Financial Protection Bureau launched a digital media toolkit with resources for renters and mortgage borrowers who continue to struggle financially from the coronavirus pandemic.
July 09, 2021 |
ICBA NewsWatch Today
Compliance
Independent Banker
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