Mitigation

The Senate Banking Committee scheduled a hearing for next week on the President’s Working Group on Financial Markets report on stablecoins.

Policymakers should take a comprehensive, coordinated regulatory approach to stablecoins and other digital assets, ICBA told the House Financial Services Committee.

With the Financial Crimes Enforcement Network now required to collect beneficial ownership information directly from reporting companies, it should withdraw its requirement that banks collect this information as well, ICBA told the agency.

ICBA and the Cybersecurity and Infrastructure Security Agency are hosting a tabletop exercise on several dates starting this month to support community bank cybersecurity.

The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary report focuses on growing cybersecurity risks to small and minority-led financial institutions.

ICBA and the Cybersecurity and Infrastructure Security Agency are hosting a first-of-its-kind series of exercises in February and May to support community bank cybersecurity.