Thanks to Independent Community Bankers of America (ICBA) advocacy, the FDIC today approved a new statement of policy on bank mergers that for the first time explicitly states that additional scrutiny may be needed for deals involving tax-exempt credit unions.
ICBA Rural America and Agriculture Committee Chairman Gus Barker is scheduled to testify before Congress this week on streamlining and coordinating support for rural small businesses.
More than 40 private-sector companies will join a group of central banks in Project Agorá, which will explore how tokenization and a wholesale central bank digital currency could enhance cross-border payments.
The Financial Crimes Enforcement Network called on small businesses to begin filing initial beneficial ownership reports under the Corporate Transparency Act.
ICBA issued a guide to help community bankers participate in the Economic Growth and Regulatory Paperwork Reduction Act review process launched by banking regulators this year.
The Treasury Department sanctioned Cambodian businessman Ly Yong Phat, L.Y.P. Group Co., and O‑Smach Resort for their role in human rights abuse related to the treatment of trafficked workers subjected to forced labor in online scam centers.
House Financial Services Committee Chairman Patrick McHenry (R-N.C.) called for a transcribed interview with FDIC Chairman Martin Gruenberg after Gruenberg refused to testify at a planned hearing on FDIC workplace misconduct.
ICBA released new polling data showing Americans are growing increasingly uneasy with credit unions’ regulatory exemptions and support reforms to policies that arbitrarily favor these tax-exempt financial firms.
Today is the deadline for financial institutions to file claims in a settlement between financial institutions (including community banks) and Wawa arising out of a 2019 data security incident at the company.
The Independent Community Bankers of America (ICBA) today released new polling data showing Americans are growing increasingly uneasy with credit unions’ regulatory exemptions and support reforms to policies that arbitrarily favor these tax-exempt financial firms.
ICBA called on the National Credit Union Administration to bar tax-exempt credit unions from using funds raised from Wall Street investors to finance acquisitions of tax-paying community banks.
The FDIC board of directors scheduled a meeting for next week on a notice of proposed rulemaking on custodial deposit accounts with transaction features and to issue a final statement of policy on bank merger transactions.
ICBA said it agrees with a Financial Stability Board report that nonbank service providers involved in cross-border payments are not subject to the same regulatory scrutiny as banks.
The Independent Community Bankers of America (ICBA) today called on the National Credit Union Administration to bar tax-exempt credit unions from using funds raised from Wall Street investors to finance acquisitions of tax-paying community banks.
Today’s fraud attacks don’t seek out a faster transaction; they look for a chink in the armor and the path of least resistance. That’s why I’m a big believer in cross-channel fraud detection. In this landscape, we must look at a customer and their transactional behavior across platforms, using it as a comparison to identify out-of-character actions and payments.
The Financial Crimes Enforcement Network said it received more than 15,000 reports from financial institutions on mail theft-related check fraud in the six months after it issued an alert on the issue last year.
