Mitigation

The Independent Community Bankers of America (ICBA) announced the closing of the BankTech Ventures Fund, which raised more than $115 million in committed capital in its first fund to accelerate technology opportunities and adoption at community banks.

The Financial Services Information Sharing and Analysis Center’s latest weekly risk report spotlights the new phishing-as-a-service platform, Robin Banks.

Eight national trade groups petitioned the Consumer Financial Protection Bureau to initiate a rulemaking that will strengthen the privacy and security of consumer financial data held by fintechs, Big Tech and data aggregators.

The value of outstanding stablecoins grew roughly fivefold last year, the Federal Reserve said in its 2021 annual report.

The FDIC published a fact sheet to consumers and an advisory to financial institutions on FDIC deposit insurance and crypto companies.

While legislation is urgently needed to address risks posed by unregulated stablecoins, taking up last-minute legislation at this week’s House Financial Services Committee markup would be premature, ICBA told the panel.