Latest Acquisition of Tax-paying Community Bank Comes Amid Increased Attention to Credit Union Tax Exemption

Sep 4, 2024 | Press Release
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today issued the following statement after this year’s 15th acquisition of a tax-paying bank by a tax-exempt credit union.

ICBA Supports Acting Comptroller Michael Hsu’s Remarks on Supervising the Largest Banks

Sep 4, 2024 | Press Release
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today issued the following statement on Acting Comptroller of the Currency Michael Hsu’s remarks on evolving bank supervision.

CNBC features opposition to credit union acquisitions of community banks

Sep 4, 2024 | NewsWatch Today
ICBA’s campaign spotlighting credit union tax and regulatory inequities generated new coverage this week with a CNBC segment on acquisitions of community banks.

OCC’s Hsu: Supervision must contend with more large banks

Sep 4, 2024 | NewsWatch Today
Supervision must adapt to the growth of the largest banks, Acting Comptroller of the Currency Michael Hsu said.

FBI: North Korea targeting crypto industry

Sep 4, 2024 | NewsWatch Today
According to an FBI alert, teams of North Korean malicious cyber actors are targeting specific decentralized finance or cryptocurrency-related businesses with social engineering to gain unauthorized access to the companies’ networks to deploy malware and steal cryptocurrency.

ICBA appealing court ruling on CFPB’s 1071 rule

Sep 3, 2024 | NewsWatch Today
Following a district court decision denying ICBA’s lawsuit challenging the Consumer Financial Protection Bureau’s 1071 small-business rule, ICBA is now appealing the ruling.

ICBA urges CFPB to simplify rule on earned wage access products

Sep 3, 2024 | NewsWatch Today
ICBA told the Consumer Financial Protection Bureau that its proposed interpretive rule on “earned wage access” products defines “debt” too broadly.

FDIC publishes CRA exam schedules

Sep 3, 2024 | NewsWatch Today
The FDIC issued the lists of institutions scheduled for a Community Reinvestment Act examination during the fourth quarter of 2024 and first quarter of 2025.

2024 Summer Internship Diaries - Vol. 1

Sep 1, 2024 | NewsWatch Today
Last week, we began our internship program here at ICBA. Starting a new position is an exciting time, but it comes with unique challenges that we must face together. The first week is critical, where we learn, work, and create with others for the first time.

ICBA recognizes National Preparedness Month

Aug 30, 2024 | NewsWatch Today
ICBA recognized National Preparedness Month in September by issuing tips to help Americans secure their financial documents before disaster strikes.

Agencies sunsetting Cybersecurity Assessment Tool

Aug 30, 2024 | NewsWatch Today
Federal banking regulators said they are sunsetting the Federal Financial Institutions Examination Council the Cybersecurity Assessment Tool on Aug. 31, 2025.

Banking regulators update IT Examination Handbook

Aug 30, 2024 | NewsWatch Today
The Federal Financial Institutions Examination Council issued the Development, Acquisition, and Maintenance booklet as part of its Information Technology Examination Handbook.

ICBA Shares Financial Preparedness Tips for Consumers as National Preparedness Month Approaches

Aug 29, 2024 | Press Release
With National Preparedness Month scheduled for September, the Independent Community Bankers of America (ICBA) and the nation’s community banks urge consumers to take essential steps to bolster their financial readiness. In 2024 alone, there have been 19 confirmed weather and climate disaster events in the United States, devastating families and costing billions in damages.

ICBA: Bill targeting financial fraud would increase scams

Aug 29, 2024 | NewsWatch Today
ICBA and other groups told members of Congress that their legislation to shift liability for authorized transactions to financial institutions would increase scams.

Fed’s Waller: Domestic networks for fast payments need to be developed before international links

Aug 29, 2024 | NewsWatch Today
Federal Reserve Governor Christopher Waller said global networks for fast payments would have to be founded on well-developed domestic networks or it “could end up being a road to nowhere.”

CISA warns of Iran-based ransomware attacks

Aug 29, 2024 | NewsWatch Today
The Cybersecurity and Infrastructure Security Agency, the FBI and the Department of Defense issued a joint advisory that warns of cyber actors known as Pioneer Kitten, UNC757, Parisite, Rubidium, and Lemon Sandstorm are targeting and exploiting U.S. and foreign organizations across multiple sectors.

ICBA: Credit union buying stadium naming rights highlights tax inequity

Aug 28, 2024 | NewsWatch Today
ICBA said that a credit union paying for NFL stadium naming rights is the latest example of how credit unions are violating the limits established by Congress to justify their federal tax exemption.

CFPB report: Retail chains charging cash-back fees to customers using debit cards

Aug 28, 2024 | NewsWatch Today
The Consumer Financial Protection Bureau issued a report that said Americans are paying tens of millions of dollars in fees to access their own money when getting cash back at large retail stores when making a purchase with a debit or prepaid card.

FinCEN: Financial institutions should remain vigilant to transactions associated with synthetic opioids

Aug 28, 2024 | NewsWatch Today
The Financial Crimes Enforcement Network reminded financial institutions to monitor for and report suspicious transactional activity related to the illicit fentanyl supply chain and the trafficking of illicit fentanyl and other synthetic opioids.

ICBA: Washington Commanders Stadium Naming Rights Deal Illustrates What Is Wrong with Credit Union Policy

Aug 27, 2024 | Press Release
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today issued the following statement on today’s announcement from Northwest Federal Credit Union and the Washington Commanders.