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ICBA Renews its Preferred Service Provider Relationship with OnBoard
Washington, D.C. (Oct. 18, 2021) — The Independent Community Bankers of America (ICBA) today announced it has extended its relationship with Preferred Service Provider (PSP) OnBoard and its digital...
State AGs join opposition to IRS reporting plan
State AGs join opposition to IRS reporting plan Attorneys general from 20 states expressed opposition to the Biden administration’s proposal to require banks to report customer information to the...
ICBA: Credit unions shouldn’t get Basel III shortcut
ICBA told the National Credit Union Administration that credit unions should first be subject to the full provisions of the Basel III regulatory capital standards before capital relief measures are...
OCC issues 2022 supervision plan
OCC issues 2022 supervision plan The OCC released its bank supervision operating plan for fiscal 2022. The plan provides the foundation for policy initiatives and for supervisory strategies to...
Senators debating IRS reporting plan today
Senators are set to host dueling press conferences today on the Biden administration’s ICBA-opposed plan to require banks to report customer information to the IRS. Events: Senate Finance Committee...
ICBA: Guidance on third parties a key step
ICBA: Guidance on third parties a key step ICBA told regulators it supports their efforts to consolidate guidance on third-party risk management while providing recommendations on the proposed...
Top stablecoin issuer fined $41M over reserve claims
The Commodity Futures Trading Commission fined Tether, the largest stablecoin issuer, $41 million for misleading claims that its U.S. dollar token was fully backed by reserves. Details: The CFTC...
ICBA, groups push back on IRS reporting false claims
ICBA, groups push back on IRS reporting false claims With Congress working to modify its IRS reporting proposal in response to widespread opposition, ICBA and 100 other organizations pushed back...
ICBA backs hybrid exam model
ICBA backs hybrid exam model ICBA encouraged the FDIC to adopt a hybrid examination model that uses on-site and off-site exam activity as it explores the future of post-pandemic oversight. Comment...
Jack Henry Partners with Open Banking Providers to Enhance Digital Platform
2021-10-12 Jack Henry Partners with Open Banking Providers to Enhance Digital Platform MONETT, Mo., — Jack Henry announced today that Finicity, Akoya, and Plaid are among the first open banking...
ICBA concerns with OCC nomination make headlines
ICBA concerns with OCC nomination make headlines The New York Times covered ICBA’s concerns with the nomination of Cornell University law professor Saule Omarova for comptroller of the currency....
OCC nomination continues generating press
2021-10-12 OCC nomination continues generating press ICBA’s concerns with the nomination of Cornell University law professor Saule Omarova for comptroller of the currency continued generating...
Senators ramp up opposition to IRS reporting plan
Senators ramp up opposition to IRS reporting plan Congressional pushback against the reconciliation package’s ICBA-opposed IRS reporting proposal continued with commentary from Senate leaders....
Senators continue opposition to 7(a) direct lending
2021-10-07 Senators continue opposition to 7(a) direct lending A group of 15 Republican senators led by Tim Scott (S.C.) continued pushing back against ICBA-opposed proposed changes to the SBA 7(a)...
DOJ team to target crypto platforms
DOJ team to target crypto platforms The Justice Department has launched a team to target cryptocurrency platforms that support money laundering, a top DOJ official said Team: As reported by...
Global regulators issue guidance on stablecoin oversight
2021-10-07 Global regulators issue guidance on stablecoin oversight Central bankers and international securities regulators issued guidance on how financial market principles would apply to...
WSJ editorial targets IRS reporting plan
WSJ editorial targets IRS reporting plan ICBA’s campaign against the reconciliation package’s IRS reporting proposal picked up additional steam with a Wall Street Journal editorial opposing the...
Quarles: LIBOR definitely expiring at year-end
2021-10-06 Quarles: LIBOR definitely expiring at year-end Market participants should act now to accelerate their transition away from LIBOR, Federal Reserve Vice Chair for Supervision Randal...
Financial Stability Board issues stablecoin progress report
Financial Stability Board issues stablecoin progress report The Financial Stability Board issued a progress report on its implementation of high-level recommendations on regulating “global...
ICBA Offers Cybersecurity Tips to Help Safeguard Sensitive Data
2021-10-05 ICBA Offers Cybersecurity Tips to Help Safeguard Sensitive Data Washington, D.C. (Oct. 5, 2021)— The Independent Community Bankers of America (ICBA) and the nation’s community banks...
Administration planning crypto charter proposal: report
Administration planning crypto charter proposal: report The Biden administration’s upcoming report on digital assets will include recommendations on imposing bank-like regulation on crypto...
ICBA Congratulates Consumer Financial Protection Bureau Director Rohit Chopra on Confirmation
Washington, D.C. (Oct. 1, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Senate confirmation of Rohit Chopra...
ICBA Testifies on Preserving Community Bank SBA Lending
ICBA Testifies on Preserving Community Bank SBA Lending Washington, D.C. (Sept. 30, 2021) — The Independent Community Bankers of America (ICBA) today called on Congress to reject proposed changes...
ICBA Securities’ Exclusively Endorsed Broker Announces Sale
Washington, D.C. (Sept. 29, 2021) — ICBA Securities® Inc., the broker-dealer subsidiary of the Independent Community Bankers of America (ICBA), released the following statement in response to the...
ICBA takes on postal banking pilot in press
ICBA takes on postal banking pilot in press ICBA continued its pushback against the U.S. Postal Service’s quiet launch of a financial services pilot program to test postal banking. Coverage: On NBC...
Minority bank council to Congress: reject IRS reporting plan
ICBA’s Minority Bank Advisory Council continued its opposition to the Biden administration’s proposal to require banks to report customer account information to the IRS. Letter: Writing to the...
Luetkemeyer leads pushback on 7(a) direct loan proposal
Luetkemeyer leads pushback on 7(a) direct loan proposal House Small Business Committee Ranking Member Blaine Luetkemeyer (R-Mo.) expressed concerns with ICBA-opposed proposed changes to the SBA...
Minority Banks Urge Congress to Scrap IRS Reporting Plan
Washington, D.C. (Oct. 1, 2021) — The Independent Community Bankers of America’s (ICBA) Minority Bank Advisory Council today expressed strong opposition to the Biden administration’s proposal that...
ICBA to Congress: Preserve community bank SBA lending
ICBA to Congress: Preserve community bank SBA lending ICBA called on Congress to reject proposed changes to the SBA 7(a) loan program that would displace community bank SBA lending. Details: In...
ICBA offers Cybersecurity Awareness Month resources
With Cybersecurity Awareness Month kicking off today, ICBA is offering community banks various resources to participate. Resources: ICBA and Cybersecurity and Infrastructure Security Agency tools...
Public-private partnership key to CBDC: report
Public-private partnership key to CBDC: report A future central bank digital currency system would need to involve both public and private actors to ensure interoperability with the broader payment...
IRS proposal tweaks don’t stop pushback
While policymakers are looking to narrow the ICBA-opposed IRS reporting proposal, ICBA is continuing its campaign urging consumers to speak out against the plan. Threshold: To narrow its...
ICBA: Congress Cannot Salvage Voter-Opposed IRS Reporting Plan
2021-09-24 ICBA: Congress Cannot Salvage Voter-Opposed IRS Reporting Plan Washington, D.C. (Sept. 24, 2021)—Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey...
ICBA Launches Ad Campaign on Credit Union Tax Exemption
ICBA Launches Ad Campaign on Credit Union Tax Exemption USA Today ads highlight exploitation of credit union tax exemption Washington, D.C. (Sept. 23, 2021) — The Independent Community Bankers of...
ICBA launches multi-state credit union ad push
2021-09-22 ICBA launches multi-state credit union ad push ICBA today is launching a print and digital advertising campaign in key states calling on Congress to investigate the credit union tax...
Treasury crypto sanctions portend broad regulatory response
Treasury crypto sanctions portend broad regulatory response Financial regulators on Tuesday began cracking down on cryptocurrency exchanges and laid out significant concerns with digital assets....
FinCEN issues online child sexual exploitation notice
2021-09-21 FinCEN issues online child sexual exploitation notice The Financial Crimes Enforcement Network issued a notice on increasing online child sexual exploitation. The notice provides...
Industrial Loan Company Loophole Necessitates Congressional Scrutiny and Legislative Solution
Industrial Loan Company Loophole Necessitates Congressional Scrutiny and Legislative Solution Joint statement by BPI, CRL and ICBA in advance of U.S. Subcommittee hearing on “The Future of Banking”...
ICBA Urges FDIC to Permanently Raise Regulatory Asset Thresholds
2021-09-27 ICBA Urges FDIC to Permanently Raise Regulatory Asset Thresholds Washington, D.C. (Sept. 27, 2021) — The Independent Community Bankers of America (ICBA) today called on the Federal...
SBA: PPP portal tops 1M submissions
SBA: PPP portal tops 1M submissions The SBA said its Paycheck Protection Program Direct Borrower Forgiveness Portal has topped 1 million applications for $17 billion in relief since it launched...