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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.

Dec 21, 2022
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Article
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.

Dec 19, 2022
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Article
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...

Dec 19, 2022
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Article
Credit Unions Cybersecurity

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.

Dec 16, 2022
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Article
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...

Dec 16, 2022
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Article
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...

Dec 13, 2022
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Article

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.

Dec 19, 2022
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Article
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...

Dec 19, 2022
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Article

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.”

Dec 16, 2022
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Article
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...

Dec 16, 2022
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Article
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.

Dec 16, 2022
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Article
Compliance

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.

Dec 13, 2022
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Article
Cybersecurity Technology

New ICBA Polling Shows Consumer Opposition to Bill That Would End Credit Card Rewards Programs

As Congress considers legislation to apply routing restrictions to credit card transactions — which would end popular credit card rewards programs — the ICBA released new polling conducted by...

Dec 13, 2022
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Article
Credit Cards

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.

Dec 13, 2022
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Article
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.

Dec 09, 2022
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Article
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.

Dec 07, 2022
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Article
Lending

Financial Services and Consumer Groups Support Senate Bill to Close Industrial Loan Company Loophole

Today, a broad coalition of financial services and consumer organizations expressed support for new legislation to close the industrial loan company (ILC) charter loophole, the "Close the Shadow...

Dec 06, 2022
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Article
Lending

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...

Dec 05, 2022
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Article
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.

Dec 05, 2022
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Article
Lending Small Business Administration

ICBA: Congressional Report Validates That Community Banks Are a Superior Alternative to Nonbank Lenders

ICBA President and CEO Rebeca Romero Rainey issued the following statement on the Select Subcommittee on the Coronavirus Crisis’s report regarding the role of fintech companies in facilitating a...

Dec 03, 2022
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Article
Technology