Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement after another community bank acquisition by a tax-exempt credit union.
The Internal Revenue Service announced it has formed a coalition with state tax agencies and the tax industry to combat the growth of scams and schemes threatening taxpayers and tax systems.
Republican members of the House Financial Services Committee said the Consumer Financial Protection Bureau’s proposal to remove medical debt from credit reports will make health care more expensive for those who need it most.
Small-business owners doing their best to comply with beneficial ownership requirements should not lose sleep over the new reporting requirements, Financial Crimes Enforcement Network Deputy Director Jimmy Kirby said.
Credit unions use their tax-exempt status to weaken community banks and their capacity to meet the credit needs of local communities, according to a former credit union executive who now works for a community bank.
Banks moving to an instant payment environment need a strategy that considers fraud, liquidity, compliance, and third-party risks, according to a blog post from the Federal Reserve.
Republican members of the House Financial Services Committee called on FDIC Chairman Martin Gruenberg to appear before the committee next month if he has not stepped down before then.
The 2025 budgeting season will be difficult because of the current interest rate environment, according to a new Independent Banker article, but there are opportunities for community banks to budget strategically.
The FDIC issued a Financial Institution Letter on an amended Labor Department rule governing how qualified professional asset managers handle exemption requests under the Prohibited Transaction Class Exemption rule.
ICBA told the Consumer Financial Protection Bureau that its proposed rule to remove medical debt information from credit reporting will lead to inaccurate reports and hinder community banks’ ability to comply with other regulations.
ICBA said the Treasury Department and federal banking agencies do not need to issue specific regulations to govern artificial intelligence usage because overly prescriptive regulations may stifle the use of AI in the banking sector.
When it comes to process reform for mergers and acquisitions, it can feel like bankers and regulators are living in different worlds, according to Federal Reserve Governor Michelle Bowman.
The FDIC issued guidance on whether the use of interactive teller machines at a location other than an established branch facility would require banks to file a domestic branch application.
