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Michael Barr tapped as Fed vice chair for supervision
President Joe Biden announced his intent to nominate former Treasury official Michael Barr as the next Vice Chair for Supervision of the Federal Reserve.
ICBA: BNPL non-bank providers should face greater reg scrutiny
Regulatory scrutiny of Buy Now Pay Later programs should focus on non-supervised institutions that don’t need to comply with the same rules as banks, and may end up harming customers, ICBA’s...
FS-ISAC covers Russian threats, data center cyber risk
The Financial Services Information Sharing and Analysis Center’s most recent weekly risk summary report covers the latest threats from the Russia-Ukraine conflict; Octo, a new Android banking...
ICBA “dashboard” updates advocacy efforts for Q2
ICBA’s second quarter “Advocacy in Action” government relations dashboard recaps key issues at the forefront and offers an update on efforts to advance ICBA’s policy positions before Congress and...
ICBA issues custom op-ed on credit union-bank acquisitions
ICBA issued a customizable op-ed that community bankers can use to raise awareness of credit union acquisitions of community banks.
ICBA accepting service awards nominations
ICBA this month is accepting submissions for the 2022 National Community Bank Service Awards.
Join the ICBA ThinkTECH Accelerator Virtual Showcase on April 20
The Independent Community Bankers of America and The Venture Center will host the 2022 Virtual Demo Day, a culmination of the 2022 ICBA ThinkTECH Accelerator program’s 16-week incubator and...
ICBA Wins Association Trends Award for Campaign Opposing IRS Bank Reporting Proposal
The Independent Community Bankers of America® (ICBA) earned an Association Trends 2022 TRENDY Award for its campaign opposing a plan to require banks to report customer account information to the IRS.
Congress should join states in responding to CU bank acquisitions: op-ed
While credit union advocates support credit unions leveraging their tax exemption to acquire community banks, these subsidized transactions harm local communities, ICBA Chairman Brad Bolton writes...
OCC’s Hsu addresses key stablecoin policy considerations
Acting Comptroller of the Currency Michael Hsu identified three key policy issues critical to understanding and shaping the stablecoin system: stability, interoperability, and separability.
ICBA urges CFPB to reduce remittance rule burden
ICBA called on the Consumer Financial Protection Bureau to reduce the regulatory burden of its rule on remittance transfers to avoid disadvantaging community bank customers.
ICBA ThinkTECH Demo Day next week
The 2022 ICBA ThinkTECH Accelerator Program’s Demo Day is scheduled for next week to present participants’ solutions tailored for community banks.
Treasury announces additional Russia sanctions
Treasury’s Office of Foreign Assets Control announced additional sanctions on Russia’s largest banks and individuals connected to top Russian officials.
Video previews next month’s ICBA Capital Summit
A new ICBA video on Twitter previews the 2022 ICBA Capital Summit, scheduled for May 1-4 in Washington, D.C.
ICBA backs bills restricting U.S. CBDC, FedAccounts
ICBA expressed support for Senate and House legislation to restrict the Fed from offering a central bank digital currency or direct FedAccounts to consumers.
Former NCUA official continues pushback on credit union bank purchases
A former National Credit Union Administration official continued an ongoing series of blog posts raising concerns over credit union acquisitions of community banks.
CFPB keeps up drumbeat on overdraft fees
After the Consumer Financial Protection Bureau last week extended the deadline to comment on "exploitive junk fees" charged by financial institutions, the bureau published another blog post...
Treasury Secretary Janet Yellen Speech on Digital Assets Reflects ICBA Priorities
Independent Community Bankers of America President and CEO Rebeca Romero Rainey issued the following statement on Treasury Secretary Janet Yellen’s remarks on digital assets.
ICBA engaging policymakers amid rising payments emphasis: blog
A new ICBA blog post spotlights the growing policy focus on payments and how ICBA represents community banks’ payments needs.
Minnesota rules against credit union bank acquisitions
A proposed credit union acquisition of a community bank in Minnesota was rejected by the state’s business regulator—the latest state-level roadblock for credit unions.
Banks, Credit Unions and Consumer Groups Call for Passage of Bipartisan Solution to Close ILC Loophole
A broad coalition of bank and credit union associations and consumer organizations today submitted a letter to the U.S. House Committee on Financial Services urging passage of the Close the ILC...
ICBA offers Financial Literacy Month resources
ICBA is recognizing Financial Literacy Month this April with a national news release and customizable resources for community bankers on its Tell Your Story toolkit.
ICBA: Financial Literacy is Key to Establishing Fiscally Responsible Habits
ICBA and the nation’s community banks are encouraging Americans to take control of their financial future and embrace sound money management practices during Financial Literacy Month this April.
ICBA Celebrates the Community Banking Difference During Community Banking Month
The Independent Community Bankers of America is honoring the contributions of the nation’s nearly 5,000 community banks during April, which is ICBA Community Banking Month.
New blog post spotlights post-pandemic payments trends
ICBA’s latest blog post explores three post-pandemic payments trends and what they mean for community banks.
OCC issues computer incident notification points of contact
The OCC issued a bulletin with the designated points of contact banks must use to satisfy recently established interagency incident notification requirements, effective May 1.
CFPB targets credit card late fees in ‘junk fee’ effort
The Consumer Financial Protection Bureau said credit card issuers charged $12 billion in late fees in 2020 and that many have made these penalties “a core part of their profit model.”
FDIC follows OCC with proposed large-bank climate principles
The FDIC requested public comment on draft principles that would provide a high-level framework for institutions over $100 billion in assets to manage exposures to climate-related financial risks.
DeFi platform crypto hack might be largest ever
Decentralized finance platform Ronin Network announced a hack of more than $625 million in cryptocurrencies, possibly the largest crypto hack on record.
NY Fed analysis signals rise in student loan delinquencies
Family Federal Education Loan borrowers, who were not covered by the federal freeze put in place during the pandemic, struggled with their debit payments, and could signal problems ahead for nearly...
“PAVE” report outlines pathway to homeownership equity
The Administration announced the release of its Interagency Task Force on Property Appraisal and Valuation Equity report designed to address racial and ethnic bias in the home appraisal process.
Summary of SBA Plan to Claw Back Pandemic-Era 7(a) Program Mispayments
The Small Business Administration recently disclosed that it will directly contact more than 1,000 lenders after it potentially made erroneous 7(a) program payments to borrowers under Section 1112...
Nation’s Community Bankers Meet in Washington for ICBA Capital Summit
ICBA to host hundreds of community bank leaders during the 2022 ICBA Capital Summit May 1-4 in the nation’s capital.
OCC reports mortgage performance improvement
The OCC said the performance of first-lien mortgages in the federal banking system improved during the fourth quarter of 2021.
Cyber officials: Be on alert for Russian cyberattack
Federal cybersecurity officials called on U.S. critical infrastructure to be prepared to defend against a possible Russian state-sponsored cyberattack.
ICBA and Community Banks Celebrate America’s Ag Community
ICBA and the nation’s community banks celebrate America’s local farmers, ranchers and agricultural enterprises during National Ag Day.
ICBA testifies on harm of SBA direct lending
ICBA told Congress that community banks are critical to the success of Small Business Administration lending programs, which should not be undermined by instituting direct SBA lending under its...
Bolton: Tax-subsidized credit union acquisitions demand Washington response
The resurgence of tax-exempt credit union acquisitions of community banks during the first part of 2022 is posing new threats to underserved communities, ICBA Chairman Brad Bolton writes in a new...
CISA stakeholder call on Russia-Ukraine conflict today
The Cybersecurity and Infrastructure Security Agency is hosting an unclassified stakeholder call today to address the U.S. homeland impact of the Russia-Ukraine conflict.
What interest rate hikes mean for community banks
With the Federal Reserve voting this week to raise target interest rates, a new ICBA blog post details what the move means for community banks and the communities they serve.
ICBA summary details executive order on digital assets
ICBA released a summary of President Joe Biden’s executive order on digital assets and what it means for the nation’s community banks.
FS-ISAC offers Russia-Ukraine cyber update
The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary report offers the latest on the Russo-Ukraine conflict, including a joint advisory on Russian...
Bolton: Tax-subsidized credit union acquisitions demand Washington response
The resurgence of tax-exempt credit union acquisitions of community banks during the first part of 2022 is posing new threats to underserved communities, ICBA Chairman Brad Bolton writes in a new...
ICBA Summary of President Biden’s Executive Order on Digital Assets
On March 9, 2022, President Joe Biden signed an executive order that outlines the administration’s strategy to address crypto asset risks, develop a framework to promote responsible innovation, and...
Biden signs omnibus with ICBA-advocated fixes
President Joe Biden formally signed into law the $1.5 trillion government funding omnibus with ICBA-advocated provisions related to the SBA’s 504 loan program and LIBOR.
ICBA testifying tomorrow on PPP
ICBA is scheduled to testify before Congress at 10 a.m. (Eastern time) tomorrow, March 16, on community bank leadership in Paycheck Protection Program lending.
CFPB encourages Homeowner Assistance Fund participation
The Consumer Financial Protection Bureau encouraged mortgage servicers to sign up for Homeowner Assistance Fund programs to help homeowners avoid foreclosure.
FS-ISAC: Global cyber threats to accelerate
FS-ISAC said the rapid digitization of the financial services sector has led to an increase in global cyber threats in 2021, specifically cyberattacks targeting third-party suppliers and critical...
U.S., other nations announce new actions against Russia
The White House announced a new round of international actions against Russia following the invasion of Ukraine.
ICBA to Congress: SBA Direct Lending Would Undermine Successful Programs
ICBA today told Congress that community banks are critical to the success of Small Business Administration lending programs, which should not be undermined by instituting direct SBA lending under...
ICBA testifying today on PPP, other SBA programs
ICBA is scheduled to testify before Congress at 10 a.m. (Eastern time) today on community bank leadership in lending under the Paycheck Protection Program and other Small Business Administration...
FDIC rescinds pandemic-era Part 363 reporting relief
The FDIC rescinded guidance providing coronavirus-affected financial institutions extra time to file annual reports under Part 363 of the agency's regulations.
Raskin withdraws Fed nomination
Former Federal Reserve Governor Sarah Bloom Raskin withdrew her nomination for Fed vice chair for supervision.
Stablecoins raise policy questions affecting community banks: blog
With the growing volume of stablecoins in circulation drawing increased attention from policymakers and the media, a new ICBA blog post provides an update with implications for community bankers.
ICBA toolkit offers National Ag Week materials
With National Agriculture Day and Week set for next week, ICBA is offering customizable materials community banks can use to celebrate.
Omnibus with ICBA-advocated fixes signed into law
President Joe Biden signed into law the $1.5 trillion government funding omnibus with ICBA-advocated provisions related to the SBA’s 504 loan program and LIBOR.
ICBA testifying next week on PPP
ICBA is scheduled to testify before Congress next week on community bank leadership in Paycheck Protection Program lending.
Senate passes omnibus with ICBA-advocated fixes
The Senate passed the $1.5 trillion omnibus to fund the government through Sept. 30 with ICBA-advocated provisions related to the SBA’s 504 loan program, LIBOR, and cyber incident reporting.
Task force updates AML-deficiency jurisdictions
Task force updates AML-deficiency jurisdictions The Financial Action Task Force—a global anti-money-laundering watchdog—updated its statements concerning jurisdictions with strategic AML,...
CFPB launches rural America initiative
The Consumer Financial Protection Bureau launched an initiative to focus on financial issues facing rural America.