Community banks reported a 13.5% increase in net income during the third quarter from the previous quarter and a 3.9% increase from a year ago, according to the FDIC's latest Quarterly Banking Profile.
With FDIC Acting Chairman Martin Gruenberg telling Congress this week that he expects regulators to release a final rule modernizing Community Reinvestment Act regulations during the early part of next year, ICBA reiterated its call for the federal banking agencies to issue a uniform rule that minimizes new data collection and reporting burdens for community banks.
ICBA expressed support for a new bipartisan letter from members of Congress urging the Federal Housing Finance Agency to align its capital rules with those of federal banking regulators to avoid penalizing community banks for supporting local communities during the COVID-19 pandemic.
The OCC published its assessment rates for the 2023 calendar year, reducing the rates in its general assessment fee schedule and maintaining its 2022 rates for the independent trust and independent credit card fee schedules.
The Independent Community Bankers of America (ICBA) expressed support for a new bipartisan letter from members of Congress urging the Federal Housing Finance Agency to align its capital rules with those of federal banking regulators to avoid penalizing community banks for supporting local communities during the COVID-19 pandemic.
With FDIC Acting Chairman Martin Gruenberg testifying before Congress that he expects regulators to release a final rule modernizing Community Reinvestment Act regulations during the early part of next year, the Independent Community Bankers of America (ICBA) reiterated its call for the federal banking agencies to issue a uniform rule that minimizes new data collection and reporting burdens for community banks.
FDIC Acting Chairman Martin Gruenberg told lawmakers he anticipates regulators will release a final rule reforming Community Reinvestment Act regulations during the early part of next year.
Independent Banker magazine, the award-winning monthly publication of the Independent Community Bankers of America (ICBA), announced its 2022 Best Community Banks to Work For recipients.
ICBA is calling on community bankers to urge their members of Congress to pass legislation before year-end that would establish a cannabis banking safe harbor in states where cannabis is legal.
Washington continued to escalate its response to instability in the crypto sector as the Senate Finance Committee’s chairman questioned leading crypto exchanges on their consumer protections.
ICBA responded to a Consumer Financial Protection Bureau request for information on encouraging residential mortgage loan refinances by calling on the bureau to reduce unnecessary compliance burdens for community banks.
The Consumer Financial Protection Bureau issued a final rule with its annual adjustment to the maximum amount consumer reporting agencies may charge consumers for making a file disclosure to a consumer under the Fair Credit Reporting Act.
With Congress returning to Washington this week for the final leg of the lame-duck session, ICBA is pushing several key legislative priorities and calling on community bankers to weigh in with lawmakers via ICBA’s Be Heard grassroots action center.
ICBA next week is hosting a complimentary post-election briefing on the midterm election results and pending regulatory actions affecting community banks.
The FDIC and Federal Reserve released results of their review of the resolution plans of the eight largest and most complex U.S. banks, finding shortcomings only in Citigroup’s living will.
The FDIC has proposed changes to its new supervisory appeals structure aimed at increasing its independence, but the system still requires significant overhauls to preserve banks’ due process rights, ICBA and other groups said.
The Justice Department announced the arrest of two Estonian citizens for their alleged involvement in a $575 million cryptocurrency fraud and money-laundering conspiracy.
The collapse of the FTX cryptocurrency exchange is a predictable example of the serious risks that digital assets pose, and policymakers should ensure new policies directed at the sector fully reflect its risks, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed.
The Federal Housing Administration said it will accept private flood insurance policies in which the borrower chooses to obtain a private policy instead of flood insurance available through the National Flood Insurance Program, effective Dec. 21.
