Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement following the latest acquisition of a tax-paying community bank by a tax-exempt credit union.
With Congress potentially taking up tax legislation when it returns from the current congressional recess, ICBA is calling on community bankers to urge their lawmakers to co-sponsor legislation that would provide tax relief to support rural lending.
House Financial Services Committee Chairman French Hill (R-Ark.), Rep. Byron Donalds (R-Fla.), and Deputy Treasury Secretary Michael Faulkender are scheduled to speak during next month’s ICBA Capital Summit in Washington, D.C.
ICBA ThinkTECH Connect—which provides a quick look at fintech companies that may be of interest to community banks—is scheduled for noon (Eastern time) this Thursday, April 24.
At ICBA Capital Summit—slated for May 12-15 in Washington, D.C.—community bankers engage in important discussions about the future of community banking, advocate for policies that support local economies, and share best practices with peers, according to the latest Independent Banker magazine.
In response to the OCC’s decision to combine its community, midsize, and large bank supervision functions, ICBA said merging supervisory functions threatens to dilute the nuanced oversight that effective community bank supervision requires in favor of a one-size-fits-all model.
Banks play a critical role in safeguarding against deepfake-driven fraud given their direct handling of financial transactions and sensitive customer data, according to Federal Reserve Governor Michael Barr.
In response to the OCC’s announced decision to combine its community, midsize, and large bank supervision functions, ICBA said merging supervisory functions threatens to dilute the nuanced oversight that effective community bank supervision requires and jeopardizes the tailored regulatory approach that community banks deserve.
ICBA and other groups expressed support for the reintroduction of legislation in the House and Senate to protect the financial privacy of mortgage applicants.
ICBA reiterated its call for policymakers to eliminate the federal tax exemption for credit unions with more than $1 billion in assets following the fourth announced credit union acquisition of a tax-paying community bank this year.
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement in opposition to the Office of the Comptroller of the Currency’s announced decision to merge its community, midsize, and large bank supervision functions into a single line of business.
ICBA reiterated its call for policymakers to eliminate the federal tax exemption for credit unions with more than $1 billion in assets following the fourth announced credit union acquisition of a tax-paying community bank this year.
A federal judge voided a Consumer Financial Protection Bureau rule capping credit card late fees at $8, after the agency agreed with opponents that the rule was illegal.
The OCC released a letter sent to supervised institutions regarding unauthorized access to OCC email systems. The letter included background on the February incident, the OCC’s response, and what financial institutions could expect going forward.
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement in response to the latest acquisition of a tax-paying community bank by a tax-exempt credit union.
FedNow, the Federal Reserve’s instant payments system, wrapped up 2024 with more than 1,000 financial institutions participating, and 68% of community banks offering or planning to offer FedNow, according to the latest Independent Banker magazine.
