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As Senate meets on stablecoins, ICBA urges coordinated approach
As Senate meets on stablecoins, ICBA urges coordinated approach Policymakers should take a comprehensive, coordinated regulatory approach to stablecoins and other digital assets, ICBA told the...
CFPB updates electronic fund transfer FAQs
2021-12-15 CFPB updates electronic fund transfer FAQs The Consumer Financial Protection Bureau updated its frequently asked questions on electronic fund transfers. The FAQs relate to compliance...
FinCEN seeks comments on modernizing AML/CFT regime
FinCEN seeks comments on modernizing AML/CFT regime The Financial Crimes Enforcement Network requested comments on updating the U.S. anti-money-laundering and countering-the-financing-of-terrorism...
OCC issues final rule rescinding CRA rule
2021-12-15 OCC issues final rule rescinding CRA rule The OCC issued a final rule to rescind its June 2020 Community Reinvestment Act rule and reinstate the 1995 interagency CRA rule. Details:...
1071 campaign now open to small-biz customers
1071 campaign now open to small-biz customers ICBA is calling on community bankers to enlist their small-business customers in the industry’s comment letter campaign on the Consumer Financial...
1071 leads CFPB rulemaking agenda
The Consumer Financial Protection Bureau released its fall 2021 agenda of regulatory matters it plans to pursue through Oct. 31, 2022. Details: The agenda includes: Section 1071 small-business data...
Small-biz customers can now join 1071 campaign
Small-biz customers can now join 1071 campaign ICBA is calling on community bankers to enlist their small-business customers in the industry’s comment letter campaign on the Consumer Financial...
CISA warns of Java logging library vulnerability
The Cybersecurity and Infrastructure Security Agency urged the private and public sectors to actively address a critical vulnerability that a growing set of threat actors are exploiting. Details:...
Recording of 1071 grassroots briefing available
Recording of 1071 grassroots briefing available Community bankers can access an on-demand recording of yesterday’s ICBA briefing on its campaign targeting the Consumer Financial Protection Bureau’s...
CFPB report spotlights mortgage, payday, remittance violations
The Consumer Financial Protection Bureau released its Supervisory Highlights report for the first half of 2021, which spotlights legal violations identified during exams of financial institutions...
House passes ICBA-backed LIBOR transition bill
House passes ICBA-backed LIBOR transition bill The House passed ICBA-supported legislation to support the transition from LIBOR to alternative reference rates. Bill: The Adjustable Interest Rate...
ICBA 1071 advocacy briefing today
ICBA is hosting a complimentary briefing on its campaign targeting the Consumer Financial Protection Bureau’s Section 1071 proposal at 3 p.m. (Eastern time) today, Dec. 9. Details: The briefing...
ICBA-opposed Omarova nomination withdrawn
ICBA-opposed Omarova nomination withdrawn Law professor Saule Omarova withdrew her nomination to lead the Office of the Comptroller of the Currency following public opposition by ICBA and...
From the CEO: ICBA and Community Banker Leadership Prevails Again
From the CEO: ICBA and Community Banker Leadership Prevails Again 2021-12-13 By Rebeca Romero Rainey As we look toward the close of what has been another unforgettable year, I am once again...
IMF researchers urge global crypto regulatory regime
IMF researchers urge global crypto regulatory regime A new International Monetary Fund article urges regulators across the globe to develop comprehensive international standards for digital assets....
ICBA backs bill to extend CBLR relief
ICBA expressed support for legislation to allow federal banking regulators to implement a community bank leverage ratio of 8-8.5% through 2024. Background: As required by the CARES Act, the...
As crypto CEOs testify, ICBA urges coordinated regulatory approach
2021-12-09 As crypto CEOs testify, ICBA urges coordinated regulatory approach With cryptocurrency CEOs testifying before Congress, ICBA called on policymakers to enact a comprehensive, coordinated...
CFPB issues final rule on LIBOR transition
CFPB issues final rule on LIBOR transition The Consumer Financial Protection Bureau finalized a rule facilitating the transition away from the LIBOR interest rate index for consumer financial...
HUD issues guidance on special-purpose credit programs
2021-12-08 HUD issues guidance on special-purpose credit programs The Department of Housing and Urban Development released guidance clarifying that special-purpose credit programs that conform with...
Multi-Factor Authentication – Widely Adopted, Effective Protection
Multi-Factor Authentication – Widely Adopted, Effective Protection Static passwords alone are no longer a viable tool for identifying customers. With payments fraud rising year after year, and...
FinCEN proposes rule to implement beneficial owner reforms
2021-12-08 FinCEN proposes rule to implement beneficial owner reforms The Financial Crimes Enforcement Network issued a proposed rule to implement ICBA-advocated beneficial ownership reporting...
ICBA Statement on the Withdrawal of Saule Omarova’s OCC Nomination
2021-12-07 Capitol Building Square Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the withdrawal of Cornell University law...
Understanding Velocity BIN Attacks and How to Address Them
2021-12-07 Understanding Velocity BIN Attacks and How to Address Them It’s Friday night and you are enjoying your well-deserved, stress-free night when your work phone rings. It’s your call center...
Telltale signs to avoid becoming a victim of a social engineering attack
Telltale signs to avoid becoming a victim of a social engineering attack The financial services industry is constantly under siege against would-be fraudsters seeking to exploit...
Using Loyalty Programs to Grow Your Portfolio
2021-12-07 Using Loyalty Programs to Grow Your Portfolio Loyalty programs are a tremendous tool for community banks to build trust with consumers and deliver an enhanced shopping experience. These...
Grow and Protect
Grow and Protect I’m a glass-half-full banker. So, while we can look at 2021 as a year of challenges, we should also take a moment to recognize the opportunities that have emerged in their wake....
ICBA/Travelers Deliver Over $4 Million in Dividends for Participating Community Banks
2021-12-07 ICBA/Travelers Deliver Over $4 Million in Dividends for Participating Community Banks Washington, D.C. (Dec. 7, 2021) — The Independent Community Bankers of America (ICBA) today...
This week: ICBA advocacy briefing on 1071 push
This week: ICBA advocacy briefing on 1071 push ICBA this week is hosting a complimentary briefing on its campaign targeting the Consumer Financial Protection Bureau’s Section 1071 proposal....
ICBA to CFPB: Extend inquiry of largest tech firms
The Consumer Financial Protection Bureau should extend its inquiry of the six largest technology companies to all tech firms that participate in payments and financial services or hold consumer...
ICBA advocacy briefing this week on 1071 push
ICBA advocacy briefing this week on 1071 push ICBA this week is hosting a complimentary briefing on its campaign targeting the Consumer Financial Protection Bureau’s Section 1071 proposal. Details:...
Boozman op-ed targets postal banking pilot
A U.S. Postal Service pilot program to test postal banking will further complicate already-strained mail delivery, Sen. John Boozman (Ark.) wrote in a new op-ed. Op-ed: In The Hill, Boozman wrote...
New ICBA video: Call for credit union hearings
Wake Up to Credit Unions 2021-12-03 New ICBA video: Call for credit union hearings ICBA released a new video distinguishing taxpaying community banks from tax-exempt credit unions. Mission Creep:...
Growing your credit portfolio starts with knowing the numbers
You’ve probably heard the saying, “the numbers don’t lie” and in the financial world, it is more than a cliché it’s usually a fact. So, when I’m asked about the best ways to grow a credit card...
Credit unions report Q3 growth
Credit unions report Q3 growth Shares and deposits at federally insured credit unions increased 14.4% in the third quarter from the previous year, the National Credit Union Administration reported....
ICBA 1071 campaign continues
ICBA this week began calling on community bankers to submit personalized comments on the Consumer Financial Protection Bureau’s proposal to implement Dodd-Frank Section 1071 collection and...
Romero Rainey: Act now on 1071 proposal
Romero Rainey: Act now on 1071 proposal ICBA President and CEO Rebeca Romero Rainey called on community bankers to join the grassroots push on the Consumer Financial Protection Bureau’s 1071...
ICBA’s Independent Banker Names 2021 Best Community Banks to Work For
Washington, D.C. (Dec. 1, 2021) — Independent Banker magazine, the award-winning monthly publication of the Independent Community Bankers of America (ICBA), today bestowed 2021 Best Community Banks...
CFPB issues annual threshold adjustment
CFPB issues annual threshold adjustment The Consumer Financial Protection Bureau raised the annual threshold adjustment maximum that consumer reporting agencies may charge consumers for making a...
Yellen, Powell testifying this week
Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are scheduled to testify this week before the Senate Banking and House Financial Services committees. Set for tomorrow and...
ICBA urges cannabis banking safe harbor in Senate defense bill
ICBA urges cannabis banking safe harbor in Senate defense bill ICBA called on senators to support the inclusion of an ICBA-advocated cannabis banking safe harbor as an amendment to a pending...
ICBA’s Romero Rainey, Paul Merski Named Top Lobbyists by The Hill
Executives highlighted for leading community bank advocacy in Washington Washington, D.C. (Dec. 2, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey and...
Regulators update BSA/AML exam manual
2021-12-02 Regulators update BSA/AML exam manual The Federal Financial Institutions Examination Council updated its BSA/AML Examination Manual, which instructs examiners on assessing BSA/AML...
Agencies adjust regulatory thresholds
Agencies adjust regulatory thresholds Federal regulators announced 2022 updates to key regulatory thresholds. Mortgage Loans: The threshold for exempting loans from special appraisal requirements...
CFPB: Community banks charge lower overdraft fees
2021-12-02 CFPB: Community banks charge lower overdraft fees The Consumer Financial Protection Bureau said community banks charge lower overdraft fees than larger institutions. Details: The CFPB...
ICBA, The Venture Center Announce 2022 ThinkTECH Accelerator Cohort
ICBA, The Venture Center Announce 2022 ThinkTECH Accelerator Cohort Cohort offers diverse mix of cybersecurity, lending, financial wellness solutions, and more Washington, D.C. (Nov. 30, 2021) —...
ICBA launches comment letter campaign on 1071 proposal
2021-11-30 ICBA launches comment letter campaign on 1071 proposal ICBA is calling on community bankers to submit personalized comments on the Consumer Financial Protection Bureau’s proposal to...
ICBA endorses HR. 6037, pushes back against SBA direct lending plan
ICBA endorses HR. 6037, pushes back against SBA direct lending plan ICBA continued its grassroots efforts against a provision under consideration in the Build Back Better reconciliation bill that...
Five Democratic senators oppose Omarova nomination: report
2021-11-29 Five Democratic senators oppose Omarova nomination: report Five Democratic senators reportedly don't support Saule Omarova’s nomination to lead the Office of the Comptroller of the...
Cybersecurity advisory warns of holiday attacks
Cybersecurity advisory warns of holiday attacks The Cybersecurity and Infrastructure Security Agency and FBI issued a cybersecurity reminder for public and private sector organizations to remain...
SBA office backs 1071 comment extension
2021-11-24 SBA office backs 1071 comment extension The SBA Office of Advocacy expressed support for ICBA and state banking associations’ request that the Consumer Financial Protection Bureau extend...
ICBA congratulates Powell, Brainard on Fed nominations
ICBA congratulates Powell, Brainard on Fed nominations ICBA congratulated Federal Reserve Chairman Jerome Powell and Fed Governor Lael Brainard after President Joe Biden said he intends to nominate...
Bill would bar SBA 7(a) direct lending
2021-11-23 Bill would bar SBA 7(a) direct lending Legislation to bar SBA direct lending under its 7(a) loan program was introduced amid an ICBA grassroots campaign opposing the policy. Background:...
OCC provides crypto guidance as agencies announce roadmap
OCC provides crypto guidance as agencies announce roadmap Federal regulators said they plan to provide greater regulatory clarity on crypto-related activities next year, with the OCC issuing an...
ICBA cautions FHFA on excessive credit risk transfer reliance
ICBA said it is largely supportive of proposed amendments to the Federal Housing Finance Agency’s final capital rule, though it cautioned the agency not to allow Fannie and Freddie to become overly...
ICBA Statement on House Passage of Reconciliation Bill
ICBA Statement on House Passage of Reconciliation Bill Washington, D.C. (Nov. 19, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following...
ICBA Introduces BankTech Ventures Investment Fund
Washington, D.C. (Nov. 19, 2021) — The Independent Community Bankers of America (ICBA) today announced the Initial Closing of a fund launched by BankTech Ventures, LP (“BTV”). The venture capital...
Agencies issue computer incident notification final rule
2021-11-19 Agencies issue computer incident notification final rule Federal banking regulators approved a final rule designed to improve the sharing of information about cyber incidents that may...
ICBA issues summary of employer vaccine mandate
ICBA issues summary of employer vaccine mandate ICBA published a summary of the Biden administration’s policy requiring employers with 100 or more employees to ensure their workers are fully...
ICBA: SBA plans should include community bank role
2021-11-23 ICBA: SBA plans should include community bank role ICBA told the SBA it should continue partnering with community banks rather than attempting to remove them from the loan origination...
Statement on Federal Reserve Nominations of Jerome Powell, Lael Brainard
Statement on Federal Reserve Nominations of Jerome Powell, Lael Brainard Washington, D.C. (Nov. 22, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey...