The Senate fell short of the two-thirds majority needed to override President Joe Biden’s veto of a resolution to overturn the Consumer Financial Protection Bureau’s Section 1071 rule, despite mustering a bipartisan majority.
Following the latest report of a credit union acquisition of a tax-paying community bank, ICBA continued its call for Congress to investigate the credit union tax exemption.
The Securities and Exchange Commission approved a series of proposed rule changes that will allow for the listing and trading of bitcoin-based products on national securities exchanges.
With senators pushing for a hearing as soon as next month on ICBA-opposed legislation to impose credit card routing restrictions, ICBA is calling on community bankers to urge their members of Congress to oppose the measure.
ICBA expressed support for a Consumer Financial Protection Bureau proposed rule that would establish bureau oversight of Big Tech firms and other large nonbank tech companies that offer payments services.
ICBA continues calling on community bankers to continue urging their members of Congress to co-sponsor legislation to support lending in rural communities.
The Financial Crimes Enforcement Network said 42% of the Bank Secrecy Act reports filed in 2021 related to identity, indicating $212 billion in identity-related exploitations through various schemes.
CRA Partners, a subsidiary of the Independent Community Bankers of America (ICBA), announced the addition of CRA support services under an agreement with Michael P. Wallace of Wallace Consulting Co. LLC to help community banks meet new Community Reinvestment Act requirements.
With lawmakers returning to Washington for the second session of the 118th Congress, ICBA is calling on community bankers to continue urging their members of Congress to co-sponsor legislation to support lending in rural communities.
Interagency climate risk principles for institutions with at least $100 billion in assets illustrate banking regulators’ lost focus on core financial risks, Federal Reserve Governor Michelle Bowman said.
The Commodity Futures Trading Commission’s Technology Advisory Committee advanced a report calling on the government to address risks posed by decentralized finance.
The Financial Crimes Enforcement Network has received more than 100,000 filings on beneficial ownership information since it began accepting reports last week, Treasury Secretary Janet Yellen said.
A joint letter from ICBA and other groups to the Consumer Financial Protection Bureau on pending rulemakings related to overdraft and non-sufficient-funds fees is making news.
FDIC Director Jonathan McKernan said regulators should investigate the impact of the “Big Three” asset managers—Vanguard, BlackRock, and State Street—on the banking industry.
Community bankers can register to participate in the sixth ICBA ThinkTECH Accelerator program to meet with six emerging fintech companies advancing community bank innovation.
ICBA announced its support for an interagency proposal to require banks with $100 billion or more in assets to maintain minimum levels of externally issued long-term debt.
Rep. Blaine Luetkemeyer (R-Mo.), who chairs the House Financial Services Committee’s national security subcommittee, said he will retire from Congress at the end of his current term.
The Consumer Financial Protection Bureau said its filing period for Home Mortgage Disclosure Act data collected in 2023 opened on Jan. 1. Submissions will be considered timely if received on or before Friday, March 1.
The recent inflationary period has had a different impact on banks than did the periods of stagflation during the 1970s, the FDIC said in a new report.
