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CFPB to propose rules governing data broker practices
The Consumer Financial Protection Bureau will propose new rules to prevent the misuse and abuse of consumer information collected by credit reporting companies and other data brokers.
Report: Credit card routing bill would cost consumers $11B in rewards
ICBA-opposed legislation to impose credit card routing restrictions would cost credit card users $11 billion in annual rewards, according to a new report from the Electronic Payments Coalition.
Bittrex to pay $24M to settle SEC exchange allegations
The Securities and Exchange Commission said crypto asset trading platform Bittrex Inc. and its former CEO, William Shihara, agreed to settle charges that they operated an unregistered national...
Custodia Bank launches in certain states
Special-purpose depository institution Custodia Bank said it has officially launched in certain states to serve U.S.-based business customers.
Agencies request feedback on secure open-source software
The Cybersecurity and Infrastructure Security Agency and other agencies issued a request for information on areas for prioritization to secure open-source software.
ICBA ThinkTECH Accelerator director profiled by BankBeat
ICBA ThinkTECH Accelerator Director Stephanie Foster, who joined ICBA in January to help plan and execute ICBA’s award-winning program, is the subject of a new profile in BankBeat.
ICBA request for 1071 relief makes headlines
ICBA’s actions to challenge the Consumer Financial Protection Bureau's Section 1071 final rule and seek injunctive relief for community banks is making headlines.
FHFA responds to ICBA concerns with new credit score models
The Federal Housing Finance Agency said it is considering adjustments to its plan for transitioning Fannie Mae and Freddie Mac to new credit score models following outreach from ICBA and other groups.
Credit union acquisition of Ill. community bank will not close
A planned credit union acquisition of a community bank in Illinois will not go through, according to S&P Global.
Fed hosting FedNow town hall this month
The Federal Reserve said it is hosting a town hall meeting this month on the FedNow Service.
ICBA releases updated guide for August recess meetings
ICBA released an updated version of its “Meetings on Main Street” guide to help community bankers host members of Congress during the August congressional recess.
Fed updates policy on supervising stablecoins, novel activities
The Federal Reserve Board released additional information on its program to supervise novel activities in the banks it oversees, including stablecoin activity.
OCC issues guidance on legal lending limit
The OCC issued guidance on the applicability of the legal lending limit to purchased loans.
Agencies release report on top routinely exploited vulnerabilities
The Cybersecurity and Infrastructure Security Agency and other agencies issued a report on last year’s top routinely exploited vulnerabilities.
Independent Banker magazine wins 2023 Content Marketing Award for Top Association Publication
ICBA Independent Banker magazine was named the winning association publication in the 2023 Content Marketing Awards.
Minneapolis Fed: Higher rates affect least profitable ag producers most
A recent article from the Federal Reserve Bank of Minneapolis explains how higher interest rates affect the farm sector.
Regulators update BSA/AML exam manual
The Federal Financial Institutions Examination Council announced updated sections and related examination procedures in its Bank Secrecy Act/Anti-Money Laundering Examination Manual.
Romero Rainey: ICBA continues advocating community bank 1071 relief
ICBA is taking steps to ensure that a recent court decision granting temporary injunctive relief from the CFPBs Section 1071 final rule applies to all community banks, ICBA President and CEO Rebeca...
Nonbank Figure withdraws OCC charter application
Figure Technologies, a nonbank consumer lender looking to expand into payments services, withdrew its application for a national bank charter.
Committee passes ICBA-advocated resolution to block CFPB’s 1071 rule
The House Financial Services Committee voted 29-21 to advance an ICBA-advocated resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule.
FDIC issues new cease-and-desist letter on deposit insurance claims
The FDIC issued a new letter demanding that a nonbank crypto entity cease making false or misleading representations about deposit insurance.
ICBA issues summary on large bank capital proposal
ICBA released a summary of a recently released interagency proposed rule to strengthen regulatory capital standards on large banks.
Fed survey: Plurality of banks seek to maintain current balance sheet size
Nearly one-third of respondents to a Federal Reserve survey of senior financial officers said their banks plan to take actions to maintain the current size of their balance sheets over the next six...
CISA warns of Ivanti system vulnerabilities
Threat actors are exploiting vulnerabilities in the Ivanti Endpoint Manager Mobile device management system, according to a cybersecurity advisory from the Cybersecurity and Infrastructure Security...
ICBA Names Faith Lutat Vice President of Member Relations
The Independent Community Bankers of America (ICBA) today announced the hire of Faith Lutat as vice present of member relations.
ICBA Commends House Committee for Passing Resolution to Nullify CFPB’s Small-Business Reporting Rule
ICBA today commended the House Financial Services Committee for advancing an ICBA-advocated resolution to nullify the Consumer Financial Protection Bureau’s Section 1071 small-business data...
Nearly 1,000 ICBA Community members in first week
The numbers show this month’s launch of the ICBA Community online platform has been well-received by community bankers, ICBA’s Vanessa Hanson writes in a new blog post.
Agencies release proposal on large bank capital standards
The FDIC, Federal Reserve, and OCC released an interagency proposed rule to strengthen capital standards on the largest banks and explicitly said they would not apply to community banks.
New ICBA podcast on 2023 top lenders
The latest episode of ICBA’s “Independent Banker” podcast features community bankers from Independent Banker magazine’s lists of 2023’s top community bank lenders.
CFPB report targets consumer financial products
The Consumer Financial Protection Bureau released a new Supervisory Highlights report on unfair, deceptive, and abusive acts or practices across various consumer financial products.
New compliance note on sanctions-related self-disclosures
The Treasury, Commerce, and Justice departments issued a joint compliance note focusing on voluntary self-disclosure policies that apply to U.S. sanctions, export controls, and other national...
ICBA polling campaign on interchange bill running this week
With Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan.) working to attach credit card routing restrictions to the National Defense Authorization Act, ICBA this week is promoting its new...
Fed’s Barr: Fair lending oversight needs to adapt to technological change
Regulators will need to adapt their application of the Fair Housing Act and Equal Credit Opportunity Act to deal with technological change and other developments as the financial system evolves.
As Lawmakers Push to Include Credit Card Restrictions in Defense Bill, New ICBA Polling Shows Voter Opposition
With Sens. Durbin (D-Ill.) and Marshall (R-Kan.) working to attach their controversial credit card routing restrictions to the pending National Defense Authorization Act, ICBA today released new...
ICBA Urges FDIC to Finalize Special Assessment Rule as Proposed
ICBA said it supports the Federal Deposit Insurance Corporation’s proposed rule to exempt community banks with less than $5 billion in uninsured deposits from its special assessment following the...
Community banker cautions Congress on deposit insurance reform
ICBA community banker Thomas Fraser—CEO of First Mutual Holding Co. in Lakewood, Ohio—testified on deposit insurance reform before the Senate Banking Committee on behalf of his banks.
Court ruling opens door to more legal disputes over debts
A U.S. appeals court this week issued a decision that widens the avenue for consumers to challenge their debt under the Fair Credit Reporting Act.
ICBA Commends Federal Reserve for FedNow Launch
The Independent Community Bankers of America (ICBA) today commended the Federal Reserve for its launch of the FedNow Service, the Fed’s instant payment service that ICBA has staunchly advocated for...
ICBA launches online community for members
ICBA announced the launch of ICBA Community—an online platform that provides professional networking and discussion opportunities exclusively for community bankers.
ICBA Commends Senate Small Business Committee for Advancing Legislation Addressing SBA 7(a) Changes
The Independent Community Bankers of America (ICBA) today commended the Senate Small Business Committee for advancing legislation to address ICBA-opposed Small Business Administration changes to...