ICBA is calling on community bankers to submit comments this week on the FDIC’s proposal to adjust and index certain regulatory thresholds, most notably Part 363 independent audit and reporting requirements.
ICBA told the FDIC that it has a statutory duty to reject the applications of industrial loan companies that pose undue risks to the Deposit Insurance Fund and fail to serve the convenience and needs of their community.
The Treasury Department issued an advance notice of proposed rulemaking seeking public comment related to its implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
The Independent Community Bankers of America (ICBA) today told the Federal Deposit Insurance Corporation (FDIC) that it has a statutory duty to reject the applications of industrial loan companies (ILCs) that pose undue risks to the Deposit Insurance Fund and that fail to serve the convenience and needs of their communities.
Following ICBA advocacy, the OCC announced it will reverse its ICBA-opposed plan to merge its community, midsize, and large bank supervision functions into a single unit.
ICBA told Congress it believes artificial intelligence has the potential to help community banks meet regulatory burdens and expand access to credit, but thoughtful regulation is needed to ensure that innovation does not come at the expense of consumer protection or financial stability.
ICBA today expressed its strong support for the Office of the Comptroller of the Currency’s announcement that it will reverse its ICBA-opposed decision to merge its community, midsize, and large bank supervision functions into a single unit.
ICBA told the FDIC that in revising the agency’s supervisory appeals process, the FDIC should ensure that reviewers have significant community banking experience.
The Federal Reserve announced a new reporting feature for its FedDetect Anomaly Notification for FedACH Services, which helps financial institutions quickly address potential fraud.
ICBA urged the House Financial Services Committee to vote to advance several pro-community banks bills that the committee is scheduled to mark up today.
The FDIC requested comment on a proposal to survey banks about the costs to comply with the Bank Secrecy Act and related anti-money laundering and countering the financing of terrorism requirements.
The Independent Community Bankers of America® (ICBA) announced today BankTech Ventures, a leading strategic investment fund focused on financial technology companies serving community banks, is the newest sponsor for ICBA’s acclaimed ThinkTECH Accelerator and related innovation programming. The sponsorship supports ICBA’s ongoing efforts to further advance community bank innovation and foster an environment where community banks flourish.
Nacha announced that, starting next month, the process of requesting proof of an ACH Rules compliance audit will be automated through its Risk Management Portal.
