Today, 11 trade associations representing virtually all banks and credit unions, including those primarily serving military-affiliated customers and members, released the following joint statement opposing the effort by Senator Dick Durbin (D-IL) and Roger Marshall (R-KS) to attach their proposed credit card routing legislation (S. 1838) to the Military Construction, Veterans Affairs, and Related Agencies Appropriations Act (H.R. 4366):

The Consumer Financial Protection Bureau updated its frequently asked questions on its Section 1071 small-business rule.

Data show that consumers and small businesses value the symbiotic relationship between innovation and relationship banking that community banks offer, ICBA community bankers wrote in a new LinkedIn post.

With credit union executives in Washington this week for advocacy meetings, ICBA launched several campaigns to raise questions about credit union policies among lawmakers, ICBA President and CEO Rebeca Romero Rainey announced.

ICBA is calling on community bankers to voice strong opposition to renewed efforts by Sen. Roger Marshall (R-Kan.) to force Senate consideration of legislation to advance credit card routing restrictions.

ICBA reiterated to Congress its opposition to the creation of a U.S. central bank digital currency.

ICBA leadership community bankers and staff this week met with OCC officials on the agency’s supervisory approach to how banks treat single items that are repeatedly rejected for insufficient funds.

Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s swearing-in of members of the Federal Reserve Board.

With Congress back in Washington following the August recess, ICBA continues its grassroots campaigns on key advocacy issues.

Securities and Exchange Commission Chair Gary Gensler told Congress that most crypto tokens and intermediaries are subject to U.S. securities laws despite the industry’s “wide-ranging noncompliance.”

The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary covers an unknown threat actor exploiting vulnerabilities in the MinIO Object Storage system to remotely execute arbitrary code on vulnerable servers.

A federal judge vacated last year’s ICBA-opposed Consumer Financial Protection Bureau actions expanding the bureau’s authority to examine banks for discrimination.

The Federal Housing Finance Agency said it will hold stakeholder forums and listening sessions in the coming weeks on its plans to transition Fannie Mae and Freddie Mac to new credit score models.

The National Credit Union Administration reportedly confirmed that Rakuten Inc. has applied for a federal credit union charter after ICBA asked the agency for confirmation.

The Federal Reserve’s new program to supervise novel, technology-driven activities in the banks it oversees will continue to grow as new technologies emerge, Fed Vice Chair for Supervision Michael Barr said.

ICBA leadership community bankers discussed the vital role of community banks in a video discussion with the Travillian executive search and talent advisory firm.

ICBA and other groups urged the House Small Business Committee to work toward a bipartisan response to recent Small Business Administration changes to its 7(a) loan program.

ICBA President and CEO Rebeca Romero Rainey pushed back against erroneous claims from television personality Kevin O'Leary that banks are not lending to small businesses in the current economic environment.

The Consumer Financial Protection Bureau next month will propose standards for sharing consumer financial data, CFPB Director Rohit Chopra said.

Community banks reported a 3.4% second-quarter increase in net income from the previous quarter and a 0.7% increase from the same period a year ago, according to the FDIC’s latest Quarterly Banking Profile.