Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Federal Deposit Insurance Corporation’s final rule implementing special assessments for the resolutions of Silicon Valley Bank and Signature Bank of New York.
The FDIC board of directors voted 3-2 to approve its special assessment to replenish the Deposit Insurance Fund with an ICBA-supported exemption for the vast majority of community banks.
ICBA leadership community bankers and staff met with Federal Reserve officials on banking regulators’ supervisory approach to how banks assess fees on items that are repeatedly rejected for insufficient funds.
Members of Congress continued to press prudential regulators about the impact of their rulemakings on community banks during a second day of oversight hearings.
Global policy groups continued making their case for central bank digital currencies with the release of a new International Monetary Fund guidebook on digital dollars.
The FDIC board of directors is scheduled to meet at 10 a.m. (Eastern time) today to finalize the agency’s special assessment to replenish the Deposit Insurance Fund following large bank failures earlier this year.
ICBA Bancard, ICBA’s payments subsidiary, unveiled its new brand—ICBA Payments. The name change reflects its expanded offerings beyond card services and a broader focus on the larger payments landscape.
ICBA and other groups urged the Consumer Financial Protection Bureau to deny a recent petition seeking a rulemaking that would ban pre-dispute arbitration provisions in contracts for consumer financial services.
The Cybersecurity and Infrastructure Security Agency released an artificial intelligence roadmap designed to support the secure development and implementation of AI capabilities.
ICBA this week is launching a survey on the value of community banks, small-business lending, and the regulatory environment. The survey will inform a forthcoming ICBA report on the impact of recent regulatory changes, including the Consumer Financial Protection Bureau’s Section 1071 rulemaking.
With Congress working this week to advance funding bills to avoid a government shutdown ahead of Friday’s deadline, ICBA is calling on community bankers to contact their members of Congress on pressing legislative issues.
Federal Reserve Governor Michelle Bowman reiterated her concerns with the community bank impact of regulators’ Community Reinvestment Act final rule and other recent agency actions.