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Congress on Saturday passed a short-term government funding extension, which President Joe Biden signed into law, averting a government shutdown. The agreement keeps the government funded at current levels until Nov. 17.
Flood Insurance: The continuing resolution includes a reauthorization of the National Flood Insurance Program, preserving lenders’ ability to issue new policies for residential and commercial properties. ICBA has repeatedly called on Congress to extend the NFIP authorization, including in a letter to Congress last month and in a written statement for a Senate Banking Committee hearing earlier this year.
Outlook: With the short-term extension indicating government funding negotiations will continue, ICBA continues working to ensure funding packages extend programs that serve community banks and their customers and exclude harmful policies, such as new credit card routing restrictions.
Previous News
The Financial Crimes Enforcement Network issued additional guidance and resources on pending beneficial ownership information reporting requirements.
ImageOct 2, 2023
The FDIC issued an updated version of its Consumer Compliance Examination Manual, which exam staff use for supervisory activities.
ImageSep 29, 2023
There does not seem to be any imminent likelihood of changes to U.S. deposit insurance coverage, FDIC Chairman Martin Gruenberg said.
ImageSep 29, 2023
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