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ICBA Statement Following Supreme Court Ruling on CFPB Funding Structure
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s Supreme Court ruling on the constitutionality of the Consumer...
CFPB: Reg E wire transfer exemption doesn’t apply to online transactions
The Consumer Financial Protection Bureau argued in a court filing that online-initiated wire transfers are subject to the Electronic Fund Transfer Act and Regulation E, even though the law exempts...
CFPB plans to extend 1071 compliance deadline following court ruling
The Consumer Financial Protection Bureau said it plans to extend the compliance deadline on its 1071 small-business data collection and reporting rule following a Supreme Court ruling that ended a...
CFPB seeks input for rulemaking on domestic violence, elder abuse
The Consumer Financial Protection Bureau launched a rulemaking to address the effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of...
ICBA: CFPB’s 1071 rule exceeds its authority
The Consumer Financial Protection Bureau’s 1071 small-business rule exceeds the agency’s statutory authority and is arbitrary and capricious, ICBA said in a new court filing.
CFPB finalizes rule on oversight of digital payment apps
The Consumer Financial Protection Bureau finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps.
CFPB proposes rule on consumer reporting
The Consumer Financial Protection Bureau issued a notice of proposed rulemaking related to consumer reporting and the requirements of the Fair Credit Reporting Act.
ICBA Statement on Today’s CFPB Advisory Opinion
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s guidance from the Consumer Financial Protection Bureau.
ICBA urges FinCEN to modify proposed beneficial owner reporting form
ICBA called on the Financial Crimes Enforcement Network to modify its proposed form for collecting beneficial ownership information from reporting companies.
FinCEN planning pilot program on beneficial ownership info access
The Financial Crimes Enforcement Network has received more than 1.7 million filings on beneficial ownership information since it began accepting reports from reporting companies at the beginning of...
FinCEN says it will only enforce willful beneficial ownership violations
Small-business owners doing their best to comply with beneficial ownership requirements should not lose sleep over the new reporting requirements, Financial Crimes Enforcement Network Deputy...
FinCEN underestimates beneficial ownership collection burden: ICBA
The Financial Crimes Enforcement Network’s estimated burden of complying with its final rule on accessing beneficial ownership information does not accurately reflect the demands of collecting this...
ICBA: FinCEN underestimates suspicious activity reporting burden
The Financial Crimes Enforcement Network underestimates the amount of time and resources community banks dedicate to reporting suspicious activity, ICBA told the agency.
FinCEN updates beneficial ownership FAQs
The Financial Crimes Enforcement Network updated its beneficial ownership information frequently asked questions to include responses to questions about entities that have ceased to exist.
ICBA supports bill to coordinate FinCEN rulemakings
ICBA today is calling on Congress to advance legislation to coordinate and strengthen recent Financial Crimes Enforcement Network anti-money laundering rulemakings.
Beneficial ownership reports to FinCEN top 100K: Yellen
The Financial Crimes Enforcement Network has received more than 100,000 filings on beneficial ownership information since it began accepting reports last week, Treasury Secretary Janet Yellen said.
FinCEN renewing Currency Transaction Report control numbers
The Financial Crimes Enforcement Network published a 60-day notice to renew the Office of Management and Budget control numbers assigned to Currency Transaction Reports.
FinCEN proposes BSA standards for investment advisers
The Financial Crimes Enforcement Network issued a proposed rule to add investment advisers to the list of businesses classified as “financial institutions” under the Bank Secrecy Act.
FinCEN reports on Identity-Related Suspicious Activity
The Financial Crimes Enforcement Network said 42% of the Bank Secrecy Act reports filed in 2021 related to identity, indicating $212 billion in identity-related exploitations through various schemes.
FinCEN now accepting beneficial ownership reports
The Financial Crimes Enforcement Network began accepting beneficial ownership information reports.