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FDIC board meeting tomorrow on assessments, supervisory appeals
The FDIC scheduled a board meeting for tomorrow to vote on its ICBA-opposed proposals to dramatically increase deposit insurance assessments and to eliminate its Office of Supervisory Appeals.
Interchange measure cut from defense bill, but threat remains
While a must-pass defense bill excludes ICBA-opposed legislation that would create new credit card routing mandates, ICBA continues urging community bankers to speak out against the proposed Durbin...
ICBA Foundation continues seeking Hurricane Ian donations
The new ICBA Foundation Disaster Relief Program has raised more than $25,000 in its first 48 hours to help community bank employees affected by Hurricane Ian—but more donations are needed from...
ICBA, Affiliated State Associations Urge FHFA to Align Capital Rules with Banking Agencies
ICBA and its affiliated state associations along with other banking organizations today called on the FHFA to align its capital rules with those of the federal banking agencies to avoid penalizing...
Fed’s Waller ‘highly skeptical’ of U.S. CBDC
Federal Reserve Governor Christopher Waller laid out his opposition to a U.S. central bank digital currency, saying he is “highly skeptical” of the need for a digital dollar.
CFPB finds high fees on college-endorsed banking products
The Consumer Financial Protection Bureau published a report raising questions about whether some marketing deals between colleges and financial institutions comply with Department of Education rules.
Edward Jones withdraws ILC application
The Edward Jones Investments parent company said it withdrew plans to establish the Edward Jones Bank ILC following recent conversations with the FDIC and Utah Department of Financial Institutions.
Survey shows LIBOR transition work remains
The Alternative Reference Rates Committee released survey results that found most respondents indicated they have documented plans in place to remediate USD LIBOR business loans prior to LIBOR’s...
Hsu: Agencies targeting crypto risks, interconnectedness
Acting Comptroller of the Currency Michael Hsu warned of risks posed by crypto-assets and laid out some of his priorities for bringing them within the regulatory perimeter.
ICBA Offers Tips to Help Consumers Protect Financial Data During Cybersecurity Awareness Month
In recognition of Cybersecurity Awareness Month, the Independent Community Bankers of America and the nation’s community banks are reminding consumers of steps to help safeguard their sensitive...
ICBA Brings Successful ThinkTECH Accelerator Innovation Program In-house
The Independent Community Bankers of America (ICBA) today announced plans to bring its award-winning, community banker-led ThinkTECH Accelerator program in-house with a new, dedicated office based...
ICBA offers hurricane resources as Ian approaches
ICBA updated its Hurricane Preparedness resource center with the latest on Hurricane Ian. With Ian on pace to make landfall with the west coast of Florida early Friday, the page offers community...
CFPB ending no-action-letter, sandbox policies
The Consumer Financial Protection Bureau is allowing its ICBA-supported policies on no-action letters and compliance assistance sandboxes to expire, cementing the agency’s transition away from...
ICBA Announces Member Relations Team Executive Promotions
The Independent Community Bankers of America today announced promotions for William Pusey, who was named executive vice president, member relations, and Leah Edwards who was promoted to vice...
Former Uber exec convicted for not disclosing breach
Uber’s former chief security officer was convicted of failing to disclose a 2016 data breach in the first criminal prosecution of an executive related to the handling of a breach.
ICBA proposes needed changes to CRE guidance update
ICBA issued a comment letter expressing support for an agency effort to provide clearer guidance on prudent commercial real estate loan accommodations and workouts while suggesting improvements to...
Grassroots key amid interchange amendment push
With lawmakers working to include ICBA-opposed credit card legislation in a must-pass defense bill, ICBA is urging community bankers to continue the grassroots campaign against the interchange...
Financial Services Trades to Congress: NDAA Shouldn’t Be a Payday for Retailers
Leading financial services trade associations sent a letter to U.S. House and Senate leadership warning them against attaching the so-called Credit Card Credit Card Competition Act of 2022 to the...
ICBA Statement on Recent Report on Zelle Fraud
Independent Community Bankers of America President and CEO Rebeca Romero Rainey issued the following statement on a recent report from Sen. Elizabeth Warren (D-Mass.) on Zelle.
Grassroots critical as lawmakers seek to advance interchange bill
With Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan.) working to include their ICBA-opposed credit card legislation in a defense bill, ICBA is urging community bankers to continue the...
ICBA seeking Digital Assets Task Force nominations
ICBA is seeking submissions from volunteers to serve on a new Digital Assets Task Force to examine and deliberate issues related to central bank digital currency and digital assets, such as...
Gruenberg: Community bank climate strategies successful
Community banks have successfully employed strategies for managing climate-related financial risk, though the prevalence of risk will increase with climate change, FDIC Acting Chairman Martin...
FinCEN issues final rule on beneficial ownership reporting
The Financial Crimes Enforcement Network issued a final rule establishing a beneficial ownership information reporting requirement.
Wayne Miller Named SVP, Innovation Programs as ICBA Brings ThinkTECH Accelerator Program In-House
The Independent Community Bankers of America (ICBA) today announced Wayne Miller will join ICBA as senior vice president, innovation programs, effective October 17.
As Hurricane Ian makes landfall, ICBA offers community bank resources
With Hurricane Ian making landfall in Florida as a Category 4 hurricane, ICBA offers updates on its Hurricane Preparedness resource center.
Gruenberg: Community banks lead during downturns
FDIC Acting Chairman Martin Gruenberg reiterated his recent remarks that community banks have an outsized role in lending during times of distress and providing equitable access to financial services.
Fed’s Bowman: Credit union acquisitions indicate need for merger rethink
Federal Reserve Governor Michelle Bowman said the increase in credit union acquisitions of taxpaying community banks indicates regulators should rethink how they evaluate bank mergers.
Gooden-Welch Bill Prioritizes Big Box Retailers over Consumers
ICBA and other groups today sent a letter to House leaders warning that pending interchange legislation would reduce access to credit, increase security risks associated with credit card use, and...
CFPB looks to spur automated mortgage refinancing, forbearance
The Consumer Financial Protection Bureau requested feedback on ways to spur new mortgage products that streamline and automate loan refinancing.
Nacha announces framework to fight credit-push fraud
Nacha released a new strategy for payments industry participants to address scams that deceive consumers into sending payments to fraudsters under false pretenses.
Fed raises rates as projections reflect impact
The Federal Open Market Committee raised the federal funds rate target by another 75 basis points and released updated projections reflecting the impact of its campaign against inflation.
States demand crypto lender cease interest-bearing accounts
Several states announced cease-and-desist actions against cryptocurrency lender Nexo alleging that its interest-bearing accounts function as an unlicensed security.
As feds report on digital assets, ICBA poll suggests consumer skepticism
Following the Biden administration’s release of reports on digital assets policy, ICBA released new polling conducted by Morning Consult indicating consumers support a regulatory framework for...
ICBA ThinkTECH alums earn Finovate honors
ICBA and The Venture Center recognized this year’s Finovate Fall 2022 Best of Show winners, LemonadeLXP and Quilo, both of which were 2022 ICBA ThinkTECH Accelerator participants.
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.
CFPB planning standards for nonbank ‘buy now, pay later’ lenders
The Consumer Financial Protection Bureau said it is developing consumer protections for “buy now, pay later” products similar to those that apply to credit cards.
OCC announces chief climate risk officer
The OCC announced the appointment of Yue (Nina) Chen as chief climate risk officer. Chen will lead the agency’s Office of Climate Risk and development of climate risk management frameworks for the...
ICBA: Two-Thirds of Voters Support Cannabis Banking Access
Two-thirds of voters (65%) support allowing cannabis-related businesses to have access to banking services in states where cannabis is legal, the Independent Community Bankers of America (ICBA)...
As Feds Report on Digital Assets, New ICBA Polling Points to Consumer Skepticism with Crypto, CBDC
The Independent Community Bankers of America (ICBA) told the Treasury Department that policymakers developing new rules for cryptocurrency should prioritize protecting national security amid...
ICBA ThinkTECH Accelerator Alumni LemonadeLXP, Quilo Win “Best of Show” Honors at Finovate Fall 2022
The Independent Community Bankers of America (ICBA) and The Venture Center celebrate this year’s Finovate Fall 2022 Best of Show winners, LemonadeLXP and Quilo, both of which were members of the...
ICBA urges National Flood Insurance Program extension
ICBA called on Congress to extend the National Flood Insurance Program authorization before it expires Sept. 30 to avoid further disruptions to the housing market.
House members urge SBA to change PPP loan forgiveness policy
A group of House members led by Rep. Chrissy Houlahan (D-Pa.) sent an ICBA-supported letter to the Small Business Administration calling for common-sense reform to Paycheck Protection Program loan...
Senate bill would bar Fed from issuing CBDC
Sen. Mike Lee (R-Utah) introduced legislation to prohibit the Federal Reserve from issuing a central bank digital currency.
Cannabis banking co-sponsors in talks on compromise Senate bill
Lead co-sponsors of ICBA-advocated legislation to allow legal cannabis-related businesses to access banking services said they are working with key senators to advance the House-passed bill in the...
CFPB: Credit report furnishers must investigate disputes
The Consumer Financial Protection Bureau said the Fair Credit Reporting Act requires credit report furnishers to investigate potential inaccuracies in consumer credit reports.
FinCEN underestimating burden of info-sharing requests: ICBA
The Financial Crimes Enforcement Network underestimates the regulatory burden of information sharing requests between banks and law enforcement under the USA PATRIOT Act, ICBA told the agency.
Farm Credit System reports favorable results despite headwinds
The Farm Credit Administration reported that tight labor markets, rising interest rates, a strong dollar, high energy prices, and drought conditions are creating uncertainty in rural economies and...
FDIC Second-Quarter Deposit Data Show Proposed Assessment Rate Hike Not Needed
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the FDIC’s latest Quarterly Banking Profile.
ICBA Statement on Federal Home Loan Bank Review
ICBA statement on the Federal Housing Finance Agency’s comprehensive review of the Federal Home Loan Bank System.
OCC announces assessment rate cuts targeting community banks
The OCC will reduce assessment rates on OCC-chartered community banks by 40% starting next year, Acting Comptroller of the Currency Michael Hsu announced.
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.
ICBA voices opposition to Durbin Amendment expansion
ICBA this week expressed strong opposition to legislation that would create new credit card routing mandates that expand on Durbin Amendment payments interventions.
Fed raises order limits for nickels, dimes, quarters
The Federal Reserve said it will raise order limits for nickels, dimes, and quarters, effective Tuesday. Limits for pennies are unchanged.
ICBA Shares Financial Preparedness Tips for Consumers During National Preparedness Month in September
In recognition of National Preparedness Month in September, ICBA and the nation’s community bankers are reminding Americans to create a plan to ease their worries and speed their financial recovery...
ICBA Names 2022 National Community Bank Service Awards Winners
ICBA today announced the winners of its 2022 National Community Bank Service Awards, which celebrate the outstanding service and volunteer efforts of the nation’s community banks. Stories are...
Romero Rainey: ICBA opposing bill to expand Durbin Amendment
ICBA continues speaking out against policymakers’ efforts to expand on harmful Durbin Amendment interventions on payment card systems, ICBA President and CEO Rebeca Romero Rainey wrote in a recent...
Biden announces student debt forgiveness plan
The Biden administration announced plans to provide up to $20,000 in student debt forgiveness and extended the federal student loan repayment moratorium, first implemented under the Trump...
ICBA urging comments on deposit insurance assessments
ICBA is calling on community bankers to submit personalized comments to the FDIC opposing its proposal to raise deposit insurance assessment rates by 2 basis points on all insured institutions.
ICBA urges uniform CRA rule that minimizes reg burdens
ICBA called on federal banking regulators to issue a uniform final rule on Community Reinvestment Act modernization that minimizes new data collection and reporting burdens for community banks.
ICBA-CISA cyber exercise twice this week
ICBA and the Cybersecurity and Infrastructure Security Agency are hosting a tabletop exercise today and tomorrow to support community bank cybersecurity.