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ICBA Statement on New SBA 7(a) Lending Companies
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Small Business Administration’s expansion of its 7(a) loan program.
OCC publishes revised Telephone Consumer Protection Act procedures
The OCC published revised interagency examination procedures for the Telephone Consumer Protection Act.
ICBA: Additional beneficial ownership reporting changes needed
ICBA said that while it supports the FinCEN’s plan to amend its proposed beneficial ownership information reporting form, it is concerned the proposal would require database users to determine...
White House releases executive order on AI standards
President Joe Biden signed an executive order to establish new safety, privacy, and equity standards for artificial intelligence.
Watchdog warns of money-laundering threats
The Financial Action Task Force—a global anti-money-laundering watchdog—updated its list of jurisdictions with strategic AML, terrorist-financing, and weapons-proliferation deficiencies.
The 15 Latest Holiday Scams To Watch Out for in 2023
Holiday scams can happen at any time — from Black Friday and Cyber Monday to the weeks and months leading up to the end of the year.
Please join us in welcoming our newest field rep, Jean Taddonio
Please join us in welcoming our newest field rep, Jean Taddonio. Jean will be serving Connecticut, Massachusetts, Rhode Island, New Hampshire, Vermont, Maine, New York and New Jersey.
ICBA Launches New Brand - Reflects differentiation and momentum of ICBA and community banks
The Independent Community Bankers of America (ICBA) today unveiled its new brand — reflecting the continued strength, differentiation, and momentum of ICBA and its one mission: community banks.
How the crypto policy debate affects community banks: blog
A new ICBA blog post breaks down the policy debate over treating cryptoassets as securities or commodities and the implications for community banks.
Central bank group reports stablecoin risks, CBDC benefits
A Bank for International Settlements panel said the risks of using stablecoins for cross-border payments could outweigh the benefits.
Ag tech solutions forum this week
ICBA’s next ThinkTECH Solutions Forum will spotlight ag tech solutions that can help community banks keep pace with the competition.
New blog post breaks down AI for community banks
A new ICBA blog post separates artificial intelligence hype from reality and spotlights what AI means for community banks.
Agency webinar tomorrow on ransomware mitigation
Regulators are hosting a webinar at 2 p.m. (Eastern time) tomorrow to provide updates on recent ransomware trends and mitigations.
IRS extends flexibilities on e-signatures, encrypted email
The Internal Revenue Service extended certain temporary flexibilities enacted during the COVID-19 pandemic, including its acceptance of digital signatures.
Barr: Fed backs cross-border harmonization efforts
The Federal Reserve supports international efforts to make cross-border payments faster, cheaper, more transparent, and more accessible globally, Fed Vice Chair for Supervision Michael Barr said.
Lawmakers ask DOJ to target crypto’s role in terrorist financing
Two key members of Congress urged the Justice Department to evaluate the extent to which the Binance and Tether crypto firms are supporting terrorism by violating sanctions and the Bank Secrecy Act.
Fed proposes debit card interchange cuts
The Federal Reserve Board issued a proposal to lower the maximum interchange fee that covered debit card issuers may receive for debit card transactions.
Fed’s Waller: CBDC pitch unconvincing
Federal Reserve Governor Christopher Waller said he has yet to be convinced there is a market failure that a central bank digital currency would resolve.
Gensler: Crypto investors no less deserving of securities protections
There is nothing about the crypto-asset securities markets that suggests investors and issuers are less deserving of the protections of U.S. securities laws, Securities and Exchange Commission...
ICBA Statement on Interagency Climate Risk Guidance for Large Banks
ICBA President and CEO Rebeca Romero Rainey issued the following statement on today’s release of interagency guidance for climate-related financial risk management for large financial institutions.
ICBA Statement on Community Reinvestment Act Final Rule
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s interagency final rule on Community Reinvestment Act modernization.
House GOP elects Rep. Mike Johnson as new speaker
House Republicans elected Rep. Mike Johnson (R-La.) as the 56th speaker of the House of Representatives.
CFPB targets credit card interest, fees in latest report
The Consumer Financial Protection Bureau said total outstanding credit card debt eclipsed $1 trillion last year for the first time since the CFPB began collecting this data.
Regulators approve Community Reinvestment Act final rule
Federal regulators issued an interagency final rule to reform Community Reinvestment Act regulations.
Fed meeting today on revising debit interchange fee cap
The Federal Reserve Board is scheduled to meet at 1 p.m. (Eastern time) today on proposed revisions to the agency’s debit interchange fee cap.
New risk management subgroup on ICBA Community
ICBA launched a new risk management subgroup on its ICBA Community online platform.
AI webinar bundle starts this week
ICBA this week kicks off a new webinar series to provide community bankers a primer on artificial intelligence.
Blog post: the evolving domestic regulatory environment for digital assets
A new ICBA blog post discusses the pursuit of policy initiatives around digital assets by prudential regulators, the White House, and the Treasury Department.
ICBA, groups urge Fed to reject changes to debit card interchange fees
ICBA and other groups urged the Federal Reserve Board to reject merchant requests for further changes to Regulation II governing debit card interchange fees during this week’s board meeting.
Regulators extend comment deadlines on megabank capital proposals
Federal regulators extended the comment deadline on their proposal to implement stricter regulatory capital standards on banks over $100 billion in assets while the Federal Reserve collects...
New Letter: ICBA, Financial Trades Call on Fed to Reject Requests for Changes to Debit Card Interchange Fees
ICBA and a coalition that includes organizations representing the vast majority of federally-regulated financial institutions urged the Fed to reject merchant requests for further changes to...
FinCEN proposes designating crypto mixers as money-laundering concern
The Financial Crimes Enforcement Network issued a proposed rule that identifies international convertible virtual currency mixing as a primary money-laundering concern.
Administration, Congress target crypto role in terror attacks
Policymakers announced efforts to address the role of crypto-assets in the Oct. 7 Hamas attacks on Israel.
Fed meeting next week on revising debit interchange fee cap
The Federal Reserve Board scheduled a meeting for next week on proposed revisions to the agency’s debit interchange fee cap.
Agencies issue anti-ransomware guidance
The Cybersecurity and Infrastructure Security Agency and other agencies released an updated version of the joint #StopRansomware Guide. The update includes new prevention tips, revised response...
Agencies meeting next week on CRA reform, climate risk
The Federal Reserve Board and FDIC board of directors scheduled meetings for next week on two high-profile regulatory issues: the Community Reinvestment Act and climate risk.
Fed’s Bowman: CBDC benefits remain unclear
Federal Reserve Governor Michelle Bowman said she has yet to see a compelling argument that a U.S. central bank digital currency could address payments system problems more effectively,...
New blog post: Crypto concerns renew digital assets policy debate
A new ICBA blog post recaps the significant upheaval in the digital assets market over the past year and what it means for Washington’s response.
FHFA’s Thompson addresses rise in enterprise repurchase requests
Federal Housing Finance Agency Director Sandra Thompson recognized mortgage lenders’ concerns with rising repurchase requests from Fannie Mae and Freddie Mac, though she said requests have declined...
ICBA plan to promote mortgage affordability makes news
ICBA’s joint proposal to reduce mortgage rates by an estimated 100 to 150 basis points is making news.
FHFA expands ‘rep and warrant’ relief to loans with COVID-19 forbearance
The Federal Housing Finance Agency said it will revise the treatment of active single-family mortgages backed by Fannie Mae and Freddie Mac for which borrowers elected a COVID-19 forbearance under...
FHFA issues new set of appraisal data
The Federal Housing Finance Agency published a new set of data points and trends found in appraisal reports.
The Community Bankers Association of Kansas endorses CRA Partners
The Community Bankers Association of Kansas recently endorsed CRA Partners as a means to help reduce incidents of crime in area nursing homes, while offering banks the opportunity to earn CRA credit.
CFTC charges head of failed crypto bank with fraud
The Commodity Futures Trading Commission charged the former head of failed crypto brokerage firm Voyager Digital with fraud and registration failures in connection with the digital asset platform.
Payments council releases instant payments operational guide
The U.S. Faster Payments Council released a new resource for banks working to implement instant payments.
Senate hearing tomorrow on CDFIs
The Senate Banking Committee is scheduled to meet tomorrow for a subcommittee hearing on community development financial institutions.
Credit unions labeling themselves community banks: Romero Rainey
Community bankers have for years warned of the expansion of credit union powers, but Navy Federal Credit Union’s new “Community Bank” brand indicates credit unions recognize they’ve gone too far,
ICBA National Campaign Toolkit offers audio materials
The ICBA National Campaign Toolkit features numerous assets for community banks and state partners, including customizable audio ads.
ICBA Proposes Solution to Promote Mortgage Affordability
(ICBA), Community Home Lenders of America, and National Association of REALTORS today proposed a solution to reduce historically high long-term mortgage rates relative to long-term Treasury bonds.
Bowman: Regulators should avoid harming bank viability
Banking regulators should ensure changes to the regulatory framework do not harm the long-term viability of banks, especially midsized and smaller banks, Federal Reserve Governor Michelle Bowman said.
Fed’s Bowman: Advocacy on CDFI proposal making a difference
Federal Reserve Board Governor Michelle Bowman recognized community banker concerns with proposed changes to the community development financial institution certification application.
Agencies issue additional guidance on open-source security
The Cybersecurity and Infrastructure Security Agency and other agencies issued a fact sheet on improving security of open-source software in operational technology and industrial control systems.
Credit union data reporting exemption covered in Politico
A new Politico column draws attention to the lack of regulatory transparency at tax-exempt credit unions, particularly their exemption from federal reporting requirements on overdraft fees.
Credit unions now labeling themselves community banks: Romero Rainey
Community bankers have for years warned of the expansion of credit union powers, but Navy Federal Credit Union’s new “Community Bank” brand indicates credit unions recognize they’ve gone too far.
Chopra: CFPB’s 1033 consumer data proposal coming this month
The Consumer Financial Protection Bureau this month will propose standards for sharing consumer financial data, CFPB Director Rohit Chopra said.
Interagency appraisal panel meeting next month
The Federal Financial Institutions Examination Council’s Appraisal Subcommittee next month is scheduled to hold its third public hearing on appraisal bias, the residential appraisal process, and...
New HR subgroup on ICBA Community
ICBA launched a new human resources subgroup on its ICBA Community online platform.
ICBA updates advocacy dashboard
ICBA updated its “Advocacy in Action” government relations dashboard for the fourth quarter with the latest community banking advocacy successes and priorities.
Lawmakers targeting credit cards that benefit retailers: op-ed
Retailers benefit from the convenience of credit cards at the same time they’re asking Congress to impose new routing restrictions, according to a new Washington Times op-ed.
FDIC proposes corporate governance, risk management guidelines
The FDIC proposed guidelines to establish corporate governance and risk management standards for covered institutions with total consolidated assets of $10 billion or more.