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 offers guidance on FDIC’s new approach to re-presented transactions
With the FDIC taking a new, stricter approach to how banks treat single items that are repeatedly rejected for insufficient funds, ICBA released a member protected fact sheet on the issue with recommendations for reducing the risk of penalties.
June 30, 2022 |
ICBA NewsWatch Today
ICBA issues summary on CRA modernization proposal
ICBA released a summary of the banking agencies’ proposed update to Community Reinvestment Act regulations.
June 29, 2022 |
ICBA NewsWatch Today
CRA
ICBA Urges Policymakers to Consider Risks of Crypto, Central Bank Digital Currency
The Independent Community Bankers of America (ICBA) today called on the Commerce Department to recognize the risks posed by digital assets — including a U.S. central bank digital currency — as policymakers consider a regulatory framework.
June 29, 2022 |
Press Release
Digital Assets
CFPB: States can issue fair credit reporting laws
The Consumer Financial Protection Bureau issued an interpretive rule affirming states’ abilities to issue their own fair credit reporting laws.
June 29, 2022 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Compliance
ICBA, Groups Urge CFPB to Rescind Revised Examination Manual
The Independent Community Bankers of America (ICBA) and other groups issued a joint white paper detailing why recent Consumer Financial Protection Bureau actions to expand its examination of banks for discrimination exceeds the bureau’s legal authority.
June 28, 2022 |
Press Release
Compliance
ICBA Statement on Committee Passage of the Close the ILC Loophole Act
ICBA and the nation’s community banks strongly support the Close the ILC Loophole Act (H.R. 5912) and thank Reps. Chuy Garcia (D-Ill.) and Lance Gooden (R-Texas) for introducing this important legislation.
June 23, 2022 |
Press Release
Commerce & Banking
Committee set to vote on ILC bill after pulling overdraft measure
The House Financial Services Committee today is set to vote on ICBA-advocated legislation to close the industrial loan company loophole after pulling an ICBA-opposed bill to implement overdraft restrictions.
June 23, 2022 |
ICBA NewsWatch Today
Lending
CFPB initiates review of credit card late fees
The Consumer Financial Protection Bureau issued an advance notice of proposed rulemaking to reopen CARD Act rules that regulate how much financial firms can charge in credit card late fees.
June 23, 2022 |
ICBA NewsWatch Today
Compliance Payments
ICBA, groups urge FDIC to reconsider appeals office change
ICBA and other groups called on the FDIC to reconsider its decision to eliminate the Office of Supervisory Appeals and reinstate the agency’s Supervision Appeals Review Committee.
June 23, 2022 |
ICBA NewsWatch Today
Regulatory Compliance Regulatory Relief
CFPB planning 1071 final rule by March 2023
The Consumer Financial Protection Bureau plans to issue a final rule implementing Section 1071 small-business reporting requirements by March 2023, according to a timeline released by the Office of Management and Budget.
June 23, 2022 |
ICBA NewsWatch Today
Compliance
Payments One Credit Enhances the Small Business & Commercial Card Experience
Small business and commercial card payments are an exciting growth and relationship opportunity for community banks. Both small business and commercial card types hold strong value and the size and spend of a company will determine which card they need in their employee’s wallets.
June 22, 2022 |
Payments Quarterly
Payments
ICBA, Groups Urge FDIC to Reconsider Reversal on Supervisory Appeals Office
The Independent Community Bankers of America (ICBA) and other groups called on the Federal Deposit Insurance Corp. to reconsider its decision to eliminate the Office of Supervisory Appeals (OSA) and reinstate the agency’s Supervision Appeals Review Committee (SARC).
June 22, 2022 |
Press Release
Commerce & Banking Lending
Building a Commercial Card Program – A Missouri Community Banker Weighs In
When Chad King, director of business services at $3.5 billion-asset First State Community Bank in Farmington, Mo., came to the bank nearly a decade ago, they charged him with setting up merchant services, quickly followed by a commercial card program.
June 22, 2022 |
Payments Quarterly
Payments
Visa SMB Pulse Payment Outlook and Trends
A recent Visa commissioned survey provides insights into credit usage by small- to mid-sized businesses (SMBs) in the United States.
June 22, 2022 |
Payments Quarterly
Payments
Instant Payments for Small Businesses: Low Hanging Fruit
If you have not read ICBA Bancard CEO Tina Giorgio’s recent blog on instant payments for small businesses, it is definitely worth reading. In the blog, Tina includes some key stats that effectively capture the expectations and demands of small businesses when it comes to instant payments:
June 22, 2022 |
Payments Quarterly
Payments Instant Payments
Buy Now, Pay Later Continues Notable Growth as BNPL Fraud Increases
Buy Now, Pay Later (BNPL) quickly rose to become an alternative payment staple during the pandemic, appealing to millennials and consumers wanting to get that ‘longed for’ purchase or just make ends meet.
June 22, 2022 |
Payments Quarterly
Payments
A Note from the Chairman: Carpe Diem Instant Payments
As the lifeblood of the U.S. economy, small businesses have reverberating impacts on the industries and communities they serve. In many cases, their expertise extends into areas other than financial services. That’s why they seek financial partners to help them navigate everything from cash flow to growth strategies and beyond.
June 22, 2022 |
Payments Quarterly
Payments Instant Payments
ICBA Statement on FDIC Proposal to Raise Deposit Insurance Assessment Rates
ICBA and the nation’s community banks are closely reviewing today’s FDIC proposal to amend its Deposit Insurance Fund Restoration Plan by increasing deposit insurance assessment rates by 2 basis points on all insured depository institutions.
June 21, 2022 |
Press Release
Deposit Insurance
Credit union terminates purchase of Ga. community bank
VyStar Credit Union in Jacksonville, Fla., terminated its bid to acquire Heritage Southeast Bank in Jonesboro, Ga., after failing to win regulatory approval.
June 17, 2022 |
News
Credit Unions
Committee reschedules ILC, overdraft markup
The House Financial Services Committee rescheduled for next week its markup of several key bills after postponing it earlier this week. The markup is now set to start at 10 a.m. (Eastern time) this Wednesday, June 22.
June 17, 2022 |
ICBA NewsWatch Today
Compliance Lending Small Business Lending
Agencies release 2021 HMDA data
The Federal Financial Institutions Examination Council released 2021 Home Mortgage Disclosure Act data for 4,338 U.S. financial institutions.
June 17, 2022 |
ICBA NewsWatch Today
Mortgage Rules
CFPB gathering overdraft data for regulatory follow-up
The Consumer Financial Protection Bureau said it intends to use information it is gathering from financial institutions on their overdraft practices to identify institutions for further regulatory review.
June 17, 2022 |
ICBA NewsWatch Today
Compliance
ICBA Provides Tips for Preventing Elder Financial Abuse
June 15 is World Elder Abuse Awareness Day, and the Independent Community Bankers of America and its Senior Housing Crime Prevention Foundation subsidiary are providing tips for preventing the disturbing trend of elder financial abuse.
June 14, 2022 |
Press Release
Elder Abuse Prevention
Credit union grassroots key with House committee meeting today
With the House Rules Committee meeting today to advance legislation to further empower credit unions, ICBA continues calling on community bankers to urge their lawmakers to oppose the bill.
June 13, 2022 |
ICBA NewsWatch Today
Credit Unions
ICBA concludes blog series on stablecoin collapse
ICBA concluded its new series of blog posts on the collapse of the TerraUSD stablecoin with a post focusing on its impact on community banks and the regulatory debate.
June 13, 2022 |
ICBA NewsWatch Today
Digital Assets
House committee markup in focus this week
Tomorrow’s House Financial Services Committee markup will drive the week on Capitol Hill. The panel will consider an ICBA-supported bill to close the industrial loan company loophole and ICBA-opposed legislation on overdraft, payments, and small-business regulations.
June 13, 2022 |
ICBA NewsWatch Today
Lending
Hsu: CRA update supports MDIs, CDFIs
The proposed update to Community Reinvestment Act regulations incentivizes banks to support minority depository institutions and community development financial institutions, Acting Comptroller of the Currency Michael Hsu said.
June 10, 2022 |
ICBA NewsWatch Today
CRA
ICBA continues blog series on stablecoin collapse
ICBA continued its new series of blog posts on the collapse of the TerraUSD stablecoin and its broader impact.
June 10, 2022 |
ICBA NewsWatch Today
Digital Assets
Op-ed targets credit union acquisitions ahead of committee votes
Congress should join the growing number of states fighting back against credit union acquisitions of community banks, ICBA President and CEO Rebeca Romero Rainey says in a new op-ed.
June 10, 2022 |
ICBA NewsWatch Today
Credit Unions
ICBA, state associations urge passage of cannabis safe harbor
ICBA and a coalition of 44 state community banking associations urged Congress to include a cannabis banking safe harbor in the America COMPETES Act conference report.
June 09, 2022 |
ICBA NewsWatch Today
Cannabis banking
CFPB terminates Upstart no-action letter
The Consumer Financial Protection Bureau said it terminated Upstart Network from its list of approved “no-action letters” at Upstart’s request.
June 09, 2022 |
ICBA NewsWatch Today
Compliance
ICBA leading push on ILC, overdraft, credit union bills
With several key community banking policy issues coming up for a vote in the coming days, ICBA is urging community bankers to speak out while it engages lawmakers in Washington.
June 09, 2022 |
ICBA NewsWatch Today
Credit Unions Lending
ICBA, State Associations Urge COMPETES Act Conference to Retain House-Passed SAFE Banking Act
The Independent Community Bankers of America and a coalition of 44 state community banking associations today called on Congress to include in the America COMPETES Act conference report legislation establishing a cannabis banking safe harbor.
June 08, 2022 |
Press Release
Cannabis banking
ICBA Names Community Banker and Former Regulator Anne Balcer as New Head of Government Relations
The Independent Community Bankers of America (ICBA) today announced that Anne Balcer, executive vice president, general counsel and internal auditor for Forbright Bank, formerly Congressional Bank, in Chevy Chase, Md., will succeed ICBA Senior Executive Vice President of Government Relations and Public Policy Karen Thomas following her retirement in July.
June 06, 2022 |
Press Release
ICBA: FDIC framework could pose unintended consequences for community businesses
ICBA wrote to the FDIC to share its concerns with the agency’s proposed climate risk management framework for large banks, which could limit and discourage financial institutions from doing otherwise lawful business with climate-disfavored industries.
June 06, 2022 |
ICBA NewsWatch Today
Climate
Grassroots push on credit union bill continues
ICBA continues calling on community bankers to urge their lawmakers to oppose legislation that would expand credit unions’ fields of membership and commercial lending powers.
June 06, 2022 |
ICBA NewsWatch Today
Credit Unions
Blog: Expanding interchange price control puts fraud protections at risk
Misguided efforts by “big box” merchants seeking to extend debit card interchange price controls to the credit card market jeopardize investments in protections and security that defend cardholders from criminal activity and undermine trust in the banking system, writes ICBA’s Deborah Matthews Phillips in a new blog post.
June 06, 2022 |
ICBA NewsWatch Today
Interchange
ICBA Offers Tips to Help Simplify the Home Buying Process
In recognition of National Homeownership Month in June, the Independent Community Bankers of America and the nation’s community banks encourage consumers to consult their local community bank to learn about available programs that make financing a mortgage or refinancing an existing home easier and more affordable.
June 03, 2022 |
Press Release
ICBA and 44 State Banking Associations Express Concern Over Proposal That May Choke Off Credit to Legal Businesses
ICBA and 44 state banking associations, strongly urged the Federal Deposit Insurance Corporation’s (FDIC) not to allow its proposed statement of principles on climate-risk management for large banks to limit and discourage financial institutions from doing otherwise lawful business with climate-disfavored industries.
June 03, 2022 |
Press Release
Climate
ICBA, state groups express concerns over climate risk management framework
ICBA and 44 state banking groups wrote to the FDIC to express concerns that the agency’s proposed climate risk management framework for large banks could “choke off” lawful but climate-disfavored industries from the banking system.
June 03, 2022 |
ICBA NewsWatch Today
Climate
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