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ICBA: Policymakers Should Bar Credit Unions from Using Wall Street Funds to Acquire Community Banks
The Independent Community Bankers of America (ICBA) today called on the National Credit Union Administration to bar tax-exempt credit unions from using funds raised from Wall Street investors to...
Mitigating Instant Payments Risk to Reap Rewards
Today’s fraud attacks don’t seek out a faster transaction; they look for a chink in the armor and the path of least resistance. That’s why I’m a big believer in cross-channel fraud detection.
ICBA, groups urge Congress to advance farm bill this year
ICBA and other agricultural stakeholders called on Congress to advance a meaningful farm bill in 2024 that addresses worsening conditions in farm country.
FBI: Crypto fraud complaints rise 45% in 2023
The FBI’s Internet Crime Complaint Center said it received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency last year.
Agencies issue guidance on Cybersecurity Assessment Tool sunsetting
The FDIC and OCC issued bulletins on last week’s interagency announcement that regulators are sunsetting the Cybersecurity Assessment Tool on Aug. 31, 2025.
CNBC features opposition to credit union acquisitions of community banks
ICBA’s campaign spotlighting credit union tax and regulatory inequities generated new coverage this week with a CNBC segment on acquisitions of community banks.
2024 Summer Internship Diaries - Vol. 1
Last week, we began our internship program here at ICBA. Starting a new position is an exciting time, but it comes with challenges that we must face together. The first week is critical, where we...
ICBA honors National Community Bank Service Award recipients
ICBA announced the winners of the 2024 National Community Bank Service Awards in recognition of the creative and exemplary efforts of the nation’s community banks to help their local communities.
ICBA 2024 National Community Bank Service Award Recipients Recognized for Community Impact and Dedication
ICBA today announced the winners of its 2024 National Community Bank Service Awards, recognizing the innovative and exceptional efforts of the nation’s community banks to support and uplift their...
ICBA: Credit unions are violating the limits established by Congress
After the announcement of the 15th credit union acquisition of a community bank this year, ICBA said the acquisition trend shows credit unions have expanded beyond the limits established by...
ICBA: Proposed expansion of Fedwire/NSS operating hours not necessary
ICBA said the Federal Reserve’s proposed expansion of Fedwire Funds Service and National Settlement Service hours to 22 hours per day, seven days a week would place significant burdens on community...
Latest Acquisition of Tax-paying Community Bank Comes Amid Increased Attention to Credit Union Tax Exemption
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today issued the following statement after this year’s 15th acquisition of a tax-paying bank by a tax-exempt...
ICBA Supports Acting Comptroller Michael Hsu’s Remarks on Supervising the Largest Banks
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today issued the following statement on Acting Comptroller of the Currency Michael Hsu’s remarks on evolving...
OCC’s Hsu: Supervision must contend with more large banks
Supervision must adapt to the growth of the largest banks, Acting Comptroller of the Currency Michael Hsu said.
FBI: North Korea targeting crypto industry
Teams of North Korean malicious cyber actors are targeting specific decentralized finance or cryptocurrency-related businesses with social engineering to gain unauthorized access to the companies’...
FDIC publishes CRA exam schedules
The FDIC issued the lists of institutions scheduled for a Community Reinvestment Act examination during the fourth quarter of 2024 and first quarter of 2025.
ICBA recognizes National Preparedness Month
ICBA recognized National Preparedness Month in September by issuing tips to help Americans secure their financial documents before disaster strikes.
Banking regulators update IT Examination Handbook
The Federal Financial Institutions Examination Council issued the Development, Acquisition, and Maintenance booklet as part of its Information Technology Examination Handbook.
ICBA Shares Financial Preparedness Tips for Consumers as National Preparedness Month Approaches
With National Preparedness Month scheduled for September, the Independent Community Bankers of America (ICBA) and the nation’s community banks urge consumers to take essential steps to bolster...
Agencies sunsetting Cybersecurity Assessment Tool
Federal banking regulators said they are sunsetting the Federal Financial Institutions Examination Council the Cybersecurity Assessment Tool on Aug. 31, 2025.
ICBA: Bill targeting financial fraud would increase scams
ICBA and other groups told members of Congress that their legislation to shift liability for authorized transactions to financial institutions would increase scams.
Fed’s Waller: Domestic networks for fast payments need to be developed before international links
Federal Reserve Governor Christopher Waller said global networks for fast payments would have to be founded on well-developed domestic networks or it “could end up being a road to nowhere.”
SEC files charges against crypto firm
The Securities and Exchange Commission announced that it filed charges against a “crypto bank” that claimed depositors could earn returns “auto-magically.”
CISA warns of Iran-based ransomware attacks
The Cybersecurity and Infrastructure Security Agency, the FBI and the Department of Defense warns of cyber actors known as Pioneer Kitten, UNC757, Parisite, Rubidium, and Lemon Sandstorm are...
ICBA: Credit union buying stadium naming rights highlights tax inequity
ICBA said that a credit union paying for NFL stadium naming rights is the latest example of how credit unions are violating the limits established by Congress to justify their federal tax exemption.
ICBA: Washington Commanders Stadium Naming Rights Deal Illustrates What Is Wrong with Credit Union Policy
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today issued the following statement on today’s announcement from Northwest Federal Credit Union and the...
ICBA LIVE 2025 registration is open
Registration is open for ICBA LIVE 2025, slated for March 11-14 at the Gaylord Opryland Resort & Convention Center in Nashville.
ICBA LIVE 2025 registration is open
Registration is open for ICBA LIVE 2025, slated for March 11-14 at the Gaylord Opryland Resort & Convention Center in Nashville.
Community bank CFOs: It’s about managing your margin
Even as rates stay higher and competition for deposits remains strong, fueling margin pressure, community bank chief financial officers don’t see impending doom and focus instead on increasing...
Fed Chair: Dialing back policy restraint will bring down inflation
Federal Reserve Chair Jerome Powell said “with an appropriate dialing back of policy restraint, there is good reason to think that the economy will get back to 2% inflation while maintaining a...
ICBA asks FDIC to withdraw brokered deposits proposal
ICBA requested that the FDIC withdraw its proposed rulemaking relating to brokered deposit restrictions.
ICBA requests extended comment period for RFI on deposits
ICBA and 10 industry associations requested that the FDIC extend by 60 days the comment period for its request for information on deposits. The comment deadline is currently October 7, 2024.
Fed’s Bowman: Community banks are the key to financial inclusion
Community banks are indispensable in providing access to financial products and services, especially in remote or rural areas, according to Federal Reserve Governor Michelle Bowman.
Fed shares five steps to discount window borrowing
Community banks need to take formal actions to ensure discount window access, and bank management needs to understand the mechanics of discount window borrowing even if there is no immediate need...
FDIC podcast: Community banks performed well in 2023
Community banks saw weakened liquidity at the end of 2023 but had favorable asset quality and loan numbers, according to the latest FDIC podcast.
FHFA proposes housing goals for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency issued a proposed rule on the housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2025-27.
Q3 community bank briefing in September
ICBA is hosting a complimentary community bank briefing on key congressional and regulatory developments.
Texas district court sets aside FTC’s non-compete ban
The U.S. District Court for the Northern District of Texas issued a decision setting aside the Federal Trade Commission’s non-compete ban and prohibiting the FTC from enforcing the rule.
Independent Banker recognizes community banks celebrating milestones
The latest issue of Independent Banker magazine highlights ICBA-member community banks that are celebrating their 150th, 125th, or 100th anniversary.
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...
Independent Banker offers ideas to budget strategically
The 2025 budgeting season will be difficult because of the current interest rate environment, according to a new Independent Banker article, but there are opportunities for community banks to...
ICBA: FHFA overstepping with FHLBank inquiry
The Federal Housing Finance Agency does not have the authority to redefine the mission of the Federal Home Loan Banks, ICBA told American Banker.
FDIC announces initial dates for new resolution filings
The FDIC announced initial submission dates for its final rule requiring resolutions plans for banks with at least $100 billion in assets and “informational filings” for banks over $50 billion.
FDIC issues notice on asset manager exemption notice
The FDIC issued a Financial Institution Letter on an amended Labor Department rule governing how qualified professional asset managers handle exemption requests under the Prohibited Transaction...
Fed’s Bowman: Bankers and regulators aren’t on the same page about M&A
When it comes to process reform for mergers and acquisitions, it can feel like bankers and regulators are living in different worlds, according to Federal Reserve Governor Michelle Bowman.
FDIC issues guidance on interactive teller machines
The FDIC issued guidance on whether the use of interactive teller machines at a location other than an established branch facility would require banks to file a domestic branch application.
ICBA requests comment extension on bank-fintech arrangements
ICBA and other groups requested a 30-day extension to the comment period for the regulatory agencies’ request for information on bank-fintech arrangements.
Independent Banker deciphers FHFA credit score transition
A new Independent Banker article breaks down the Federal Housing Finance Agency’s new credit scoring requirements for Fannie Mae and Freddie Mac and ICBA’s concerns with the models.
OCC: Banks affected by Hurricane Debby can close
The OCC issued a proclamation allowing national banks, federal savings associations, and federal branches to close offices in areas of Maryland, North Carolina, South Carolina, Virginia, and...
ICBA urges Congress to advance community bank tax priorities
ICBA urged members of the House Ways and Means Committee Tax Teams to advance several community banking industry tax initiatives as they craft priorities for tax legislation in 2025.
Agencies request comment on data collection proposal
Federal financial regulators requested comment on a proposed rule that would establish data standards for certain information collections submitted to the agencies.
EGRPRA outreach meeting registration closes Friday
ICBA encourages community bankers interested in providing oral comments at federal regulators’ virtual public outreach meeting on banking regulations to register by this Friday’s deadline.
ICBA: Fed has discretion to deny master account access
ICBA told a U.S. appellate court that federal law provides the Federal Reserve Banks with the discretion to deny or grant master account access.