ICBA today called on the FDIC to reject the deposit insurance application of Ford Credit Bank as an industrial loan company, or ILC, which would allow the company to skirt regulatory oversight and violate U.S. policy separating banking and commerce.

The Independent Community Bankers of America (ICBA) announced the closing of the BankTech Ventures Fund, which raised more than $115 million in committed capital in its first fund to accelerate technology opportunities and adoption at community banks.

The House passed budget reconciliation legislation that excludes several proposed tax provisions strongly opposed by ICBA.

ICBA is calling on community bankers to submit personalized comments to the FDIC opposing its proposal to raise deposit insurance assessment rates by 2 basis points on all insured institutions.

The Consumer Financial Protection Bureau released a blog post targeting the growing divergence between credit card interest and charge-off rates—and previewing an inquiry into industry practices.

The Independent Community Bankers of America (ICBA) told the Treasury Department that policymakers developing new rules for cryptocurrency should prioritize protecting national security amid catastrophic developments in the crypto markets this year.

ICBA called on federal banking regulators to issue a uniform final rule on Community Reinvestment Act modernization that minimizes new data collection and reporting burdens for community banks.

With Congress breaking for the August recess, ICBA offers an updated version of its “Meetings on Main Street” guide to help community bankers host members of Congress.

The Financial Services Information Sharing and Analysis Center’s latest weekly risk report spotlights the new phishing-as-a-service platform, Robin Banks.

The Independent Community Bankers of America (ICBA) today called on federal banking regulators to issue a uniform final rule on Community Reinvestment Act modernization that minimizes new data collection and reporting burdens for community banks.

The Virginia State Corporation Commission denied Virginia Credit Union Inc.’s application to expand its field of membership to include the Medical Society of Virginia—the latest setback to the credit union industry’s efforts to increase its taxpayer-subsidized authority.

The Ford Motor Co. plan to apply for an industrial loan company charter shows why the ILC loophole should be closed, ICBA’s Chris Cole told American Banker.

Republican members of the House Financial Services Committee pressed the FDIC on its ICBA-opposed decision to eliminate the Office of Supervisory Appeals and reinstate the Supervision Appeals Review Committee.

Eight national trade groups petitioned the Consumer Financial Protection Bureau to initiate a rulemaking that will strengthen the privacy and security of consumer financial data held by fintechs, Big Tech and data aggregators.

The Consumer Financial Protection Bureau and Justice Department issued a joint letter reminding auto finance companies of their responsibility to recognize legal protections for military families under the Servicemembers Civil Relief Act.

The value of outstanding stablecoins grew roughly fivefold last year, the Federal Reserve said in its 2021 annual report.

The FDIC published a fact sheet to consumers and an advisory to financial institutions on FDIC deposit insurance and crypto companies.

The Senate budget reconciliation deal announced this week by Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.Va.) excludes several proposed tax provisions strongly opposed by ICBA.

Senate appropriators dropped an ICBA-opposed legislative proposal to expand the U.S. Postal Service’s banking pilot after ICBA urged lawmakers to block the plan.

The Small Business Administration said its Paycheck Protection Program platform can now accept borrower requests to review lenders’ partial forgiveness decisions.