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Credit unions use loopholes to undercut community banks: former exec
Credit unions use their tax-exempt status to weaken community banks and their capacity to meet the credit needs of local communities, according to a former credit union executive who now works for...
Independent Banker offers ideas to budget strategically
The 2025 budgeting season will be difficult because of the current interest rate environment, according to a new Independent Banker article, but there are opportunities for community banks to...
CFPB: federal rules apply to contract-for-deed arrangements
The Consumer Financial Protection Bureau issued an advisory opinion and research report on contracts for deed, a form of home seller financing.
ICBA: FHFA overstepping with FHLBank inquiry
The Federal Housing Finance Agency does not have the authority to redefine the mission of the Federal Home Loan Banks, ICBA told American Banker.
FDIC announces initial dates for new resolution filings
The FDIC announced initial submission dates for its final rule requiring resolutions plans for banks with at least $100 billion in assets and “informational filings” for banks over $50 billion.
FDIC issues notice on asset manager exemption notice
The FDIC issued a Financial Institution Letter on an amended Labor Department rule governing how qualified professional asset managers handle exemption requests under the Prohibited Transaction...
ICBA: Removing medical debt information from credit reporting won’t work
ICBA told the Consumer Financial Protection Bureau that its proposed rule to remove medical debt information from credit reporting will lead to inaccurate reports and hinder community banks’...
ICBA: Agencies don’t need specific regulations on AI
ICBA said the Treasury Department and federal banking agencies do not need to issue specific regulations to govern artificial intelligence usage because overly prescriptive regulations may stifle...
Fed’s Bowman: Bankers and regulators aren’t on the same page about M&A
When it comes to process reform for mergers and acquisitions, it can feel like bankers and regulators are living in different worlds, according to Federal Reserve Governor Michelle Bowman.
FDIC issues guidance on interactive teller machines
The FDIC issued guidance on whether the use of interactive teller machines at a location other than an established branch facility would require banks to file a domestic branch application.
ICBA requests comment extension on bank-fintech arrangements
ICBA and other groups requested a 30-day extension to the comment period for the regulatory agencies’ request for information on bank-fintech arrangements.
Independent Banker deciphers FHFA credit score transition
A new Independent Banker article breaks down the Federal Housing Finance Agency’s new credit scoring requirements for Fannie Mae and Freddie Mac and ICBA’s concerns with the models.
OCC: Banks affected by Hurricane Debby can close
The OCC issued a proclamation allowing national banks, federal savings associations, and federal branches to close offices in areas of Maryland, North Carolina, South Carolina, Virginia, and...
ICBA continues call for 1033 exemption in new article
The Consumer Financial Protection Bureau should exempt banks with less than $850 million in assets from its pending rule on sharing consumer financial data, ICBA told American Banker.
ICBA urges Congress to advance community bank tax priorities
ICBA urged members of the House Ways and Means Committee Tax Teams to advance several community banking industry tax initiatives as they craft priorities for tax legislation in 2025.
Agencies request comment on data collection proposal
Federal financial regulators requested comment on a proposed rule that would establish data standards for certain information collections submitted to the agencies.
EGRPRA outreach meeting registration closes Friday
ICBA encourages community bankers interested in providing oral comments at federal regulators’ virtual public outreach meeting on banking regulations to register by this Friday’s deadline.
IRS reports problems with crypto tax enforcement
Digital asset seizure values have grown exponentially, topping $7 billion in 2022, but compliance enforcement with virtual currency is difficult, according to a new Treasury Department report.
FinCEN official: Beneficial ownership reporting only takes 20 minutes to complete
Financial Crimes Enforcement Network Deputy Director Jimmy Kirby said most companies should be able to file beneficial ownership information reporting quickly and without the help of an attorney or...
ICBA: Fed has discretion to deny master account access
ICBA told a U.S. appellate court that federal law provides the Federal Reserve Banks with the discretion to deny or grant master account access.