ICBA Services Network, the business-services subsidiary of the Independent Community Bankers of America (ICBA), today announced the election of Shon Myers, chairman, president and CEO of Farmers & Merchants Bank in Miamisburg, Ohio, as chairman of the board of directors.

Federal Reserve Governor Michelle Bowman raised concerns with credit union acquisitions of banks, noting the tax-exempt financial firms are exempt from the Community Reinvestment Act.

ICBA urged senators to co-sponsor ICBA-advocated legislation to permanently close the industrial loan company loophole.