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Treasury seeks input on modernizing payments
The Treasury Department announced it is seeking public input on its plans to transition federal disbursements to electronic payments.
Community bankers meet with Treasury’s Bessent
Several ICBA members last Friday participated in a roundtable discussion with Treasury Secretary Bessent.
Treasury publishes penny FAQs
Treasury publishes penny FAQs The Treasury Department published non-binding guidance for businesses and consumers on handling various penny situations. Details: The frequently asked questions...
Treasury details crypto risks to terrorist, proliferation financing
New Treasury Department reports spotlight the role of digital assets in terrorism and proliferation financing.
ICBA-backed bill would codify program supporting minority banks
Rep. Joyce Beatty (D-Ohio) introduced ICBA-supported legislation to codify a Treasury Department program to support minority depository institutions and other community banks.
Treasury issues request for input on financial inclusion
The Treasury Department issued a request for information on its planned development of a national strategy for financial inclusion.
Treasury sanctions Russia’s national payment system
The Treasury Department’s Office of Foreign Assets Control announced sanctions on nearly 300 Russian individuals and entities, including the operator of the Mir National Payment System.
Treasury proposes expanded jurisdiction over transactions near military installations
The Treasury Department proposed a rule to add military installations across 30 states to its jurisdiction over transactions by foreign persons in the U.S.
Treasury sanctions money laundering network using digital assets
The Treasury Department sanctioned five individuals and four entities associated with the TGR Group, an international network of businesses and employees that act on behalf of Russian elites.
IRS reports problems with crypto tax enforcement
Digital asset seizure values have grown exponentially, topping $7 billion in 2022, but compliance enforcement with virtual currency is difficult, according to a new Treasury Department report.
ICBA congratulates new Treasury secretary
After the Senate voted 68-29 to confirm Scott Bessent as the next Treasury secretary, ICBA congratulated Bessent on his confirmation and said it looks forward to working with him to implement...
ICBA Applauds Treasury Secretary Bessent for Pro-Community Bank Remarks and Support for Independence of Prudential Banking Regulators
ICBA today applauded Treasury Secretary Scott Bessent for his remarks supporting community banks and committing to the continued independence of the nation’s prudential banking regulators and dual...
ICBA shares CDFI track record with Treasury following executive order
Following President Donald Trump’s executive order directing the Treasury Department to eliminate the non-statutory components of the CDFI Fund, ICBA highlighted the critical role that CDFI...
ICBA, groups express support for CDFI Fund in letter to Congress
ICBA and other groups expressed strong support for the Community Development Financial Institutions Fund in a letter to the bipartisan Senate Community Development Finance Caucus.
ICBA applauds executive order combating check fraud
ICBA applauded the Trump administration for working to combat the threat of check fraud by addressing the Treasury Department’s use of paper checks.
Treasury Department withdraws from climate group
The Treasury Department announced it has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System, which focuses on climate risk management.
ICBA Statement on Janet Yellen's Treasury Secretary Nomination
ICBA Statement on Janet Yellen's Treasury Secretary Nomination Independent Community Bankers of America President and CEO Rebeca Romero Rainey issued a statement on Janet Yellen's nomination for...
ICBA: Community Banks Remain Healthy and Vibrant
Independent Community Bankers of America President and CEO Rebeca Romero Rainey today issued the following statement on today’s remarks from Treasury Secretary Janet Yellen.
Treasury announces Emergency Capital Investment Program recipients
The Treasury Department announced that it has made over $8.28 billion of investments in 162 community financial institutions across the country through the Emergency Capital Investment Program.
Treasury plans EIP outreach for unserved households
Treasury plans EIP outreach for unserved households The Treasury Department announced plans to help the up to 8 million households that have not yet been able to access either round of Economic...
Yellen nominated for Treasury secretary
Yellen nominated for Treasury secretary ICBA congratulated Janet Yellen on her nomination to serve as the next Treasury secretary. In a statement, ICBA President and CEO Rebeca Romero Rainey said...
Biden names acting agency heads
Biden names acting agency heads President Joe Biden named agency heads serving in an acting capacity until permanent leadership is confirmed by the Senate. President Joe Biden named agency heads...
ICBA, Groups to Congress: CDFI Fund Proposal Would Harm Local Communities
ICBA and other groups requested a meeting with members of Congress to discuss a Treasury Department proposal that would irreversibly harm access to services provided by Community Development...
ICBA to Congress: CDFI Fund proposal would harm communities
ICBA and other groups requested a meeting with members of Congress to discuss a Treasury Department proposal that would reduce access to services provided by Community Development Financial...
Senators echo concerns with CDFI application change
Senate Banking Committee members Mark Warner (D-Va.) and Mike Crapo (R-Idaho) encouraged the Treasury Department to consider all comments responding to its proposal to revise Community Development...
ICBA, state groups meet with Treasury on key issues
ICBA and affiliated state community banking associations met this week with Treasury Department officials to discuss BSA/AML compliance, Corporate Transparency Act implementation, and other issues.
Final rule on Treasury check liability will not mandate verification system
The Treasury Department’s Bureau of Fiscal Service issued a final rule governing the payments of Treasury checks.
Treasury pledges to continue cracking down on crypto terrorist-financing
The Treasury Department pledged to continue targeting the use of crypto-assets to finance terrorism amid increased scrutiny in the wake of Hamas’ attack on Israel.
ICBA urges agency collaboration to support underserved communities
ICBA encouraged the Treasury Department’s newly formed Interagency Community Investment Committee to promote agency collaboration as it works to support access to affordable capital and financial...
Treasury issues advisory on AI-enabled holiday scams
The Treasury Department’s Office of Cybersecurity and Critical Infrastructure Protection released an advisory highlighting tips consumers can take to avoid becoming the victim of cyber or online...
House hearings this week on Treasury markets, U.S. dollar
Both chambers of Congress are in session this week. The House Financial Services Committee has two hearings scheduled.
ICBA: Agencies don’t need specific regulations on AI
ICBA said the Treasury Department and federal banking agencies do not need to issue specific regulations to govern artificial intelligence usage because overly prescriptive regulations may stifle...
Treasury seeks input on national financial inclusion strategy
The Treasury Department requested input on its planned development of a national strategy for financial inclusion.
Treasury spotlights AI risks for financial sector
The Treasury Department issued a report on how the financial services sector can manage cybersecurity risks posed by artificial intelligence technologies.
Treasury sanctions Cambodian scam centers
The Treasury Department sanctioned Cambodian businessman Ly Yong Phat, L.Y.P. Group Co., and O‑Smach Resort for their role in human rights abuse related to the treatment of trafficked workers...
Treasury announces push to lower housing costs
The Treasury Department announced initiatives to increase the supply of housing.
Treasury’s Faulkender: Pro-community bank tax policies will unleash growth
Deputy Treasury Secretary Michael Faulkender told community bankers at the ICBA Capital Summit that Trump administration tax priorities pending in Congress would support community banks and local...
ICBA meets with Treasury officials on addressing check fraud
ICBA last week met with Treasury officials as the department works to transition from paper checks to electronic payments for all federal disbursements and receipts.
House Democrats urge Treasury to exempt CDFI Fund from cuts
House Financial Services Committee Ranking Member Maxine Waters (D-Calif.) and 87 House Democrats asked Treasury Secretary Scott Bessent to exclude the CDFI Fund from a recent executive order...
Treasury notes risks in cross-border payments
If a poorly designed cross-border payments system were widely adopted, it could do significant harm to international financial stability and economic security, according to a senior Treasury...