Federal Reserve Governor Michelle Bowman said regulatory disparities between community banks and nonbank providers—including credit unions—can have a distortive effect on competition.
The Independent Community Bankers of America (ICBA) today expressed support for an FDIC proposed rule that would enhance oversight of industrial loan companies, or ILCs. In conjunction with the letter, ICBA also released new polling data showing consumer skepticism with the ILC charter, a legal loophole that allows full-service banks to skirt oversight and violate U.S. policy separating banking and commerce.
ICBA told the federal banking agencies that their proposals to update anti-money-laundering and countering-the-financing-of-terrorism programs would create additional burdens on banks without any demonstrable benefit to combatting money laundering or terror financing.
The Justice Department announced that Citadel Federal Credit Union has agreed to pay more than $6.5 million to resolve allegations that it engaged in lending discrimination by redlining predominantly Black and Hispanic neighborhoods in and around Philadelphia.
Following the 18th credit union acquisition of a community bank this year—and the fifth in Washington state—ICBA said Congress should address antiquated credit union policies.
The ICBA Foundation Disaster Relief Program continues requesting tax-deductible donations to assist community banks and employees affected by Hurricane Helene.
Federal Reserve Vice Chair Philip Jefferson encouraged comments on the Fed’s request for information on “operational frictions” associated with the discount window and intraday credit.
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today issued the following statement after this year’s 18th acquisition of a tax-paying bank by a tax-exempt credit union — expanding on this year’s annual record.
Generative artificial intelligence could help community banks identify potentially fraudulent activity and security flaws, according to the latest Independent Banker magazine.
ICBA is encouraging community bankers to spread the word about the Payments Innovation Alliance’s Payment Video Challenge to raise awareness of financial scams.
The OCC issued a proclamation allowing national banks, federal savings associations, and federal branches to close offices in areas of Florida affected by Hurricane Milton.
Core conversions can be challenging for community banks but there are ways to make the process painless, according to the latest Independent Banker magazine.
The ICBA Foundation Disaster Relief Program is requesting tax-deductible donations to assist community banks and employees affected by Hurricane Helene.
After 9 amazing weeks at ICBA this summer, we have reached our final day as interns. All 6 of us worked in different departments and we each had a unique and amazing experience.
We wrapped up our second to last week at ICBA with exciting and fulfilling activities. On Wednesday, we had our Senior Leader Lunch with Alex Galeano. On Thursday, we had our fun HR Outing, where we learned to play pickleball at Kraken Courts.
