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Child Tax Credit payments start today
Child Tax Credit payments start today The IRS today begins distributing Advance Child Tax Credit payments authorized by the American Rescue Plan. Payments: Families will receive today’s payment by...
FDIC, CFPB update financial education curriculum
2021-07-15 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...
Independent Banker Ranks Top Loan Performers
Independent Banker Ranks Top Loan Performers Washington, D.C. (July 14, 2021) — This month’s issue of Independent Banker, the award-winning magazine of the Independent Community Bankers of America...
ICBA Promotes Mike DeVoll to Assistant Vice President, Marketing Strategy and Execution
Washington, D.C. (July 16, 2021) — The Independent Community Bankers of America (ICBA) today announced Mike DeVoll’s promotion to assistant vice president of marketing strategy and execution. In...
ICBA Welcomes End of FHFA Refinance Fee
ICBA Welcomes End of FHFA Refinance Fee Washington, D.C. (July 16, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on...
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...
CISA warns of Microsoft Print Spooler vulnerability
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...
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. Guidance: The proposed...
Terri Howard Joins TCM Bank as Senior Vice President, People & Culture
Terri Howard Joins TCM Bank as Senior Vice President, People & Culture Tampa, Fla. (July 13, 2021) — TCM Bank, N.A., the credit card bank of ICBA Bancard®, which is the payments services subsidiary...
ICBA Minority Bank Advisory Council Opposes IRS Reporting Proposal
Indiscriminate Account Reporting Undermines Outreach to Unbanked Washington, D.C. (July 12, 2021) — The Independent Community Bankers of America’s (ICBA) Minority Bank Advisory Council today...
ICBA, BPI Urge Federal Reserve to Clarify, Strengthen Guidelines for Fed Account Access
ICBA, BPI Urge Federal Reserve to Clarify, Strengthen Guidelines for Fed Account Access The Federal Reserve must ensure fintechs and other firms with “novel charters” do not jeopardize banking...
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. Letter: In a...
White House directs tougher scrutiny of bank mergers
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...
ICBA Bancard and Finzly Partner to Offer Instant Payments
Washington, D.C. (July 12, 2021) — ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America (ICBA), today announced a new partnership with Finzly to facilitate...
Former NCUA official criticizes credit union bank purchases
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....
Congress pushes back on IRS reporting plan
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...
CFPB launches housing insecurity media toolkit
2021-07-09 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...
A Note from the Chairman
2021-07-06 This past year has been an intensely trying time, but if we look beyond the COVID-19 storm, we come face to face with a silver lining of opportunity. Community banks have been able to...
Do you have the right card products to meet the pent-up card spend?
2021-07-06 Do you have the right card products to meet the pent-up card spend? Strong consumer and business card programs are well positioned to meet bank, consumer, and business challenges fueled...
Faster Payments – Meeting Market Demand
Faster Payments – Meeting Market Demand The year 2020 drove many community banks to experiment and embark on faster payments. Concerns of payment disruption combined with the pressure to remain...
Credit union acquisition pressure grows
2021-07-06 Credit union acquisition pressure grows Congress is under increasing pressure to investigate credit union acquisitions of community banks, ICBA President and CEO Rebeca Romero Rainey...
CFPB releases Spanish-language mortgage disclosures
CFPB releases Spanish-language mortgage disclosures The Consumer Financial Protection Bureau released a Spanish-language translation of certain model clauses available for use in early-intervention...
FHFA issues fair lending policy statement
2021-07-02 FHFA issues fair lending policy statement The Federal Housing Finance Agency issued a policy statement on its commitment to comprehensive fair lending oversight of Fannie Mae, Freddie...
ICBA Proposes Exit Fee on Credit Union Acquisitions of Taxpaying Banks
2021-07-07 Press Release Square The Independent Community Bankers of America (ICBA) today urged the Treasury Department to examine abuses of the tax code causing increased acquisitions of community...
Protecting Against Digital Payments Fraud
2021-07-06 The pandemic has certainly played a role in escalating fraud on a global scale and throughout many payment pathways—both old and new. The sudden cross-sectioning of these payment and...
Take your card portfolio to the next level with affluent cards
Take your card portfolio to the next level with affluent cards As community banks review their card offerings and examine ways to attract more cardholders, one segment meriting a closer look are...
Supporting Economic Recovery with Credit Card Rewards Programs
2021-07-06 Supporting Economic Recovery with Credit Card Rewards Programs To everything there is a season, or so the market shows via today’s rebounding economic environment. Anxieties around the...
Treasury again extends MDI, CDFI program
Treasury again extends MDI, CDFI program The Treasury Department will again extend the deadline to submit applications under its program to invest $9 billion in Minority Depository Institutions and...
Nominations open for Best Community Banks to Work For awards
ICBA’s Independent Banker magazine opened nominations for its 2021 Best Community Banks to Work For awards. Background: The December issue will celebrate community banks that go above and beyond to...
Fed to launch CECL tool for community banks
Fed to launch CECL tool for community banks The Federal Reserve said it will release a new tool this month to help community banks implement the Current Expected Credit Losses accounting standard....
FinCEN issues AML/CFT priorities
The Financial Crimes Enforcement Network issued the first government-wide priorities for anti-money-laundering and counter-financing-terrorism policy. Priorities: The priorities identify and...
CFPB reports on 2020 consumer reporting, servicing violations
CFPB reports on 2020 consumer reporting, servicing violations The Consumer Financial Protection Bureau issued a report highlighting legal violations identified by bureau examinations in 2020....
As Credit Union-Bank Acquisitions Accelerate, ICBA Urges Congressional Hearings
Washington, D.C. (June 18, 2021) — The Independent Community Bankers of America (ICBA) today reinforced its call for Congress to investigate tax-exempt credit unions acquiring taxpaying community...
Ransomware renewing agency crypto response: blog
Ransomware renewing agency crypto response: blog Escalating attacks against critical infrastructure are bringing renewed focus to the role of cryptocurrencies in facilitating criminal activity,...
ICBA Services Network Announces New Community Banker Board Members
Washington, D.C. (June 15, 2021) — ICBA Services Network, the business services subsidiary of the Independent Community Bankers of America (ICBA), today announced the appointments of Sarah...
Georgia Community Banker Named Chairman of ICBA Securities Board of Directors
Georgia Community Banker Named Chairman of ICBA Securities Board of Directors North Dakota and Indiana Community Bankers Named to Board of Directors Washington, D.C. (June 11, 2021) — ICBA...
Farm Credit System loan volume jumps 10%
The Farm Credit Administration released its quarterly report on the ag economy and the performance of the Farm Credit System, whose growth is largely generated by tax free ag real estate lending....
ICBA Supports Senate Bill Offering Tax Relief for Rural Lending
ICBA Supports Senate Bill Offering Tax Relief for Rural Lending Legislation promotes access to credit in rural communities Washington, D.C. (July 1, 2021) — The Independent Community Bankers of...
IRS enables direct deposit updates for Child Tax Credit payments
The IRS upgraded an online tool to enable families to update their bank account information so they can receive their monthly Child Tax Credit payment. Update: The new feature was added to the...
Vanessa Hanson Joins ICBA Marketing and Communications Department as Director of Digital and Social Engagement
2021-07-01 Vanessa Hanson Joins ICBA Marketing and Communications Department as Director of Digital and Social Engagement Washington, D.C. (July 1, 2021) — The Independent Community Bankers of...
HUD proposes restoring ‘disparate impact’ rule
HUD proposes restoring ‘disparate impact’ rule The Department of Housing and Urban Development recently proposed rescinding its 2020 rule interpreting the Fair Housing Act’s "disparate impact"...
Blog: Faster payments have arrived — now what?
2021-06-18 Blog: Faster payments have arrived — now what? The pandemic has accelerated the implementation of instant payments and the need for community banks to have a strategy in place, according...
HMDA relief reflected in 2020 reporting data
HMDA relief reflected in 2020 reporting data The Federal Financial Institutions Examination Council released 2020 Home Mortgage Disclosure Act data showing the impact of regulatory relief on HMDA...
ICBA Provides Tips for Preventing Elder Financial Abuse
2021-06-15 ICBA Provides Tips for Preventing Elder Financial Abuse June 15 is World Elder Abuse Awareness Day Washington, D.C. (June 15, 2021) — June 15 is World Elder Abuse Awareness Day, and the...
Ohio Community Banker to Chair ICBA Reinsurance Board of Directors
Ohio Community Banker to Chair ICBA Reinsurance Board of Directors North Dakota, Texas and South Carolina Community Bankers Join the Board Washington, D.C. (June 14, 2021) — ICBA Reinsurance, the...
Basel regulators begin vetting crypto capital rules
2021-06-11 Basel regulators begin vetting crypto capital rules The Basel Committee on Banking Supervision published a public consultation document with preliminary proposals for the prudential...
FS-ISAC Coronavirus Update, June 11, 2021
FS-ISAC Coronavirus Update, June 11, 2021 Headlines The Department of Labor through OSHA released a new Emergency Temporary Standard for workplaces in the Healthcare sector on Thursday. Nursing...
Fed outlines instant payments fraud considerations
2021-06-10 Fed outlines instant payments fraud considerations The Federal Reserve released an article on fraud management considerations to evaluate when preparing for instant payments. Details:...
IRS issues another 2.3M EIPs
IRS issues another 2.3M EIPs The IRS said it disbursed more than 2.3 million additional Economic Impact Payments over the past two weeks. New Batch: The latest batch—which has a total value of more...
FS-ISAC Coronavirus Update, June 9, 2021
2021-06-09 FS-ISAC Coronavirus Update, June 9, 2021 Headlines Hearing impairment, severe gastric upsets and blood clots leading to gangrene, symptoms not typically seen in Covid patients, have been...
ICBA to Congress: Postal banking not the answer
ICBA to Congress: Postal banking not the answer ICBA told Congress that postal banking is not the solution to reaching more unbanked Americans and lawmakers should reject such proposals. Issue...
FS-ISAC Coronavirus Update, June 10, 2021
Headlines Dr. Sharon Peacock, executive chair of the Covid-19 Genomics U.K. Consortium, said the Delta variant that originated in India and discovered in at least 74 countries and now the dominant...
Crapo challenges new bank IRS reporting proposal
Crapo challenges new bank IRS reporting proposal Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) pushed back against a Biden administration proposal that would require financial...
ICBA continues push against House ‘true lender’ repeal
ICBA and other groups again urged House members to oppose a Senate-passed resolution to repeal the OCC’s “true lender” rule. Joint Letter: In a joint letter to the House following a similar message...
Swap guidance continues LIBOR transition
Swap guidance continues LIBOR transition A Commodity Futures Trading Commission panel recommended best practices for switching interdealer trading conventions from LIBOR to the Secured Overnight...
CFPB issues FAQ on EFT and Reg E
The Consumer Financial Protection Bureau issued frequently asked questions on unauthorized transfer and error resolution provisions under the Electronic Fund Transfer Act and Regulation E. The FAQs...
IRS begins contacting families on Child Tax Credit
IRS begins contacting families on Child Tax Credit The IRS said it started sending letters to more than 36 million American families who may be eligible to receive monthly Child Tax Credit payments...
ICBA releases new elder abuse awareness resources
ICBA released customizable resources to help community banks recognize World Elder Abuse Awareness Day next week. Resources: ICBA’s Tell Your Story Toolkit features a customizable news release,...
FS-ISAC Coronavirus Update, June 8, 2021
FS-ISAC Coronavirus Update, June 8, 2021 Headlines People who have been vaccinated against coronavirus are more than 90% protected against infection and, if they do become infected, they have...
ICBA requests more time for interchange feedback
ICBA and other groups called on the Federal Reserve Board of Governors to grant a 30-day extension for its Notice of Proposed Rule Making on Debit Card Interchange Fees and Routing. The joint...