Federal banking regulators formally requested comment on a proposed rule that would amend Bank Secrecy Act requirements for anti-money-laundering and countering-the-financing-of-terrorism programs.
The Consumer Financial Protection Bureau proposed an interpretive rule that says many paycheck advance products are consumer loans subject to the Truth in Lending Act.
ICBA thanked Acting Comptroller of the Currency Michael Hsu for highlighting the formation of ICBA’s Check Fraud Task Force and the Financial Sector Fraud Working Group in a recent speech on financial fraud.
Since news broke overnight that an incident at the CrowdStrike cybersecurity firm caused IT outages affecting multiple industries across the globe, ICBA has been closely monitoring the situation in coordination with financial services partners and officials.
ICBA expressed support for Acting Comptroller of the Currency Michael Hsu’s remarks about increasing concentration in the banking industry and the separation of banking and commerce.
Credit unions are acquiring community banks at a record rate, and outdated policies are subsidizing these deals, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed in American Banker.
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 banking industry concentration and the separation of banking and commerce.
Credit unions are acquiring community banks at a record rate, and outdated policies are subsidizing these deals, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed in American Banker.
The Basel Committee on Banking Supervision published targeted amendments to its cryptoasset standard to tighten the criteria for certain stablecoins to receive a preferential regulatory treatment, which included an exclusion that ICBA strongly backed.
Federal financial services regulators formally issued a final rule to implement quality control standards for automated valuation models, or AVMs, which mortgage lenders use to value real estate collateral.
TCM Bank, N.A., the credit card bank of ICBA Payments, announced the election of new board members Robert Barnes, president and CEO of PriorityOne in Magee, Miss.; Brad Bolton, president and CEO of Community Spirit Bank in Red Bay, Ala.; and Anita Drentlaw, president and CEO of New Market in Lakeville, Minn. Jack Hartings, chairman of The Peoples Bank Co. in Coldwater, Ohio, who previously served on the board, was elected chair of the TCM Bank Board of Directors.
A recent Federal Home Loan Bank of New York decision to impose new reporting requirements on member banks will restrict access to home loans, ICBA said.
Digital asset seizure values have grown exponentially, topping $7 billion in 2022, but compliance enforcement with virtual currency is difficult, according to a new Treasury Department report.
The Independent Community Bankers of America (ICBA) today issued the following statement on the Federal Home Loan Bank of New York’s recent announcement that it will restrict lending by its member banks.
ICBA told the Federal Housing Finance Agency that the Federal Home Loan Banks’ mission is clear and does not need to be substantially changed or clarified.
Financial Crimes Enforcement Network Deputy Director Jimmy Kirby said most companies should be able to file beneficial ownership information reporting quickly and without the help of an attorney or accountant.
The FDIC this month is scheduled to hold the second of four webinars for bank officers and employees on its final rule governing the usage of official FDIC signs, advertising, name, logo, and more.
Today is the deadline for community bankers and others to submit comments on the Federal Housing Finance Agency’s request for input on the mission of the Federal Home Loan Bank System.
