A new academic paper found “pig butchering” scams—in which victims invest increasing sums in supposedly legitimate virtual currency enterprises before being conned out of their money—claimed $75 billion since January 2020.
ICBA’s Independent Banker magazine took home top honors in its category for this year’s Association Trends 2024 TRENDY Awards, while the Independent Banker podcast also received recognition in the best podcast category.
ICBA is encouraging Florida community bankers to respond to the Florida Bankers Association’s request for phone calls opposing state legislation to expand the powers of tax-exempt credit unions.
The Independent Community Bankers of America’s (ICBA) Independent Banker magazine took home top honors in its category for this year’s Association Trends 2024 TRENDY Awards, while the Independent Banker podcast also received recognition in the best podcast category.
The Community Reinvestment Act final rule issued last fall is unnecessarily complex and would impose disproportionate regulatory burdens on community banks, Federal Reserve Governor Michelle Bowman said.
Large banks should be doing more to account for the counterparty risks posed by hedge funds and other nonbanks, Federal Reserve Vice Chair for Supervision Michael Barr said.
As ICBA Bancard transitions to ICBA Payments, reflecting on our past will help to fuel our future success. While our name has changed, the goal of serving community banks has remained a constant since ICBA’s payments subsidiary’s inception in 1985.
Today’s dynamic payments landscape comes with its own set of challenges and opportunities. From deploying instant payments to enhancing the customer experience to competing with Bigtech, community banks face complex decisions about priorities amidst current fiscal realities.
ICBA is urging community bankers to both call and write their members of Congress today on the pending farm bill using ICBA’s newest grassroots advocacy materials.
ICBA-advocated legislation that would restrict the ability of the federal government to introduce a U.S. central bank digital currency was introduced in the Senate after passing the House Financial Services Committee last fall.
A novel financial institution that would pass deposits directly into a Federal Reserve master account announced it was denied access to a Fed master account.
The Financial Action Task Force—a global anti-money-laundering watchdog—said many countries have not implemented its recommended standards on virtual assets, allowing criminals to exploit gaps in crypto regulation.
The FDIC Office of the Inspector General said strategic human capital management is the FDIC’s top challenge and is affecting the agency’s ability to conduct exams.
The Treasury Department’s Office of Foreign Assets Control announced sanctions on nearly 300 Russian individuals and entities, including the operator of the Mir National Payment System.
ICBA called on federal banking regulators to ensure their latest regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act provides substantive regulatory relief for community banks—which previous reviews have failed to do.
Crypto industry resistance and jurisdictions competing for crypto business have held up progress on consolidated supervision of cryptoassets, Acting Comptroller of the Currency Michael Hsu said.
Federal Reserve Vice Chair Philip Jefferson said policymakers should remain “vigilant and nimble” on monetary policy in case of adverse shocks to the economy.
