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ICBA: Policymakers must examine credit unions’ tax status
Urgent congressional action is needed to preserve community banks and the communities that depend on them, ICBA President and CEO Rebeca Romero Rainey said.
Fed’s Waller: Non-banks and stablecoins pose risks
Federal Reserve Governor Christopher Waller voiced concern about the risks from emerging payment technologies, especially non-banks and stablecoins.
Credit Unions Exploit Federal Tax Exemption to Acquire Tax-Paying Community Banks; Congress Must Act
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement after another community bank acquisition by a tax-exempt credit union:
Credit union acquisitions generating new headlines
The ICBA-opposed trend of tax-exempt credit unions acquiring taxpaying community banks generated a new round of headlines.
Fed: Instant payments require enhanced risk management
Banks moving to an instant payment environment need a strategy that considers fraud, liquidity, compliance, and third-party risks, according to a blog post from the Federal Reserve.
Lawmakers call on Gruenberg to resign or testify
Republican members of the House Financial Services Committee called on FDIC Chairman Martin Gruenberg to appear before the committee next month if he has not stepped down before then.
FDIC publishes Q&As on official signage
The FDIC published questions and answers related to its final rule governing the usage of official FDIC signs, advertising, name, logo, and more.
Credit unions use loopholes to undercut community banks: former exec
Credit unions use their tax-exempt status to weaken community banks and their capacity to meet the credit needs of local communities, according to a former credit union executive who now works for...