National Credit Union Administration Chairman Todd Harper said his agency’s lack of oversight of credit union service organizations is an Achilles’ heel for the credit union system.

While federal agencies have some regulatory authority to oversee digital assets, Congress should develop a framework to close gaps in oversight, Treasury Secretary Janet Yellen told the House Financial Services Committee.

Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the start of the interagency review of federal banking regulations under the Economic Growth and Regulatory Paperwork Reduction Act.

ICBA, the Independent Bankers Association of Texas, Texas Bankers Association, Amarillo Chamber of Commerce, American Bankers Association, U.S. Chamber of Commerce, and Longview Chamber of Commerce filed a lawsuit against the federal banking regulators for exceeding their statutory authority with their recent Community Reinvestment Act final rule.

House Financial Services Ranking Member Maxine Waters (D-Calif.) and other Democratic committee members urged Chairman Patrick McHenry (R-N.C.) to hold a hearing on reports of discriminatory lending at Navy Federal Credit Union.

ICBA continues calling on community bankers to urge their members of Congress to support bills that would close the industrial loan company loophole and protect the financial privacy of mortgage applicants.

The Financial Crimes Enforcement Network published a 60-day notice to renew the Office of Management and Budget control numbers assigned to Currency Transaction Reports.

ICBA and others today filed a joint lawsuit in the Northern District of Texas against the Federal Reserve, FDIC and OCC for exceeding their statutory authority and acting arbitrarily and capriciously with their recent amendments to the CRA rules.

The nonpartisan Tax Foundation released a new report calling on policymakers to wean credit unions off taxpayer subsidies.

ICBA is calling on community bankers to urge their members of Congress to support bills that would close the industrial loan company loophole and protect the financial privacy of mortgage applicants.

Federal Reserve Governor Michelle Bowman said she is concerned that federal regulators respond to financial industry risks by focusing too much on regulated banks.

The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary offers tips for educating commercial customers on identity theft.

The Senate Banking Committee spotlighted ICBA concerns with how check fraud enabled by large financial institutions and the U.S. Postal Service is affecting community banks and their customers.

A Tennessee appellate court overturned a decision by the state’s banking regulator to block a credit union acquisition of a bank.

ICBA is calling on community bankers to urge their senators to support Senate legislation to permanently close the industrial loan company loophole.

The Financial Crimes Enforcement Network issued an alert to U.S. financial institutions related to financing Israeli extremist settler violence against Palestinians in the West Bank.

ICBA today is raising concerns to Congress about how check fraud enabled by the U.S. Postal Service and large financial institutions is affecting community banks and their customers.

Federal banking regulators proposed revising the call report consistent with their proposed rule to update regulatory capital standards.

The Federal Open Market Committee voted to hold target interest rates steady, citing a solid expansion of economic activity and inflation uncertainty.

The Federal Open Market Committee said its policy on senior officials’ investment and trading activity will apply to more Federal Reserve System staff.