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ICBA Urges FDIC to Reject Applications Under Industrial Loan Company Loophole to Prevent Risks to Consumers
ICBA told the FDIC that it has a statutory duty to reject the applications of industrial loan companies (ILCs) that pose undue risks to the Deposit Insurance Fund and that fail to serve the...
FDIC seeking input on AML/CFT compliance costs
The FDIC requested comment on a proposal to survey banks about the costs to comply with the Bank Secrecy Act and related anti-money laundering and countering the financing of terrorism requirements.
Senate confirms Miran for Fed post
The Senate voted 48-47 to confirm the nomination of Stephen Miran to be a Federal Reserve governor.
Miran sworn in as Fed governor
The Federal Reserve announced that Stephen Miran was sworn in as a Fed governor.
ICBA-supported bills slated for House committee markup today
ICBA urged the House Financial Services Committee to vote to advance several pro-community banks bills that the committee is scheduled to mark up today.
FedDetect announces new payment fraud tool
The Federal Reserve announced a new reporting feature for its FedDetect Anomaly Notification for FedACH Services, which helps financial institutions quickly address potential fraud.
FedNow delivering instant payments for disaster relief disbursements
FedNow announced that participants recently started receiving instant disaster-relief disbursements for their account holders.
Fed lowers interest rates by 25bp
The Federal Open Market Committee voted to lower target interest rates by 25 basis points to a range of 4.0% to 4.25%.