NewsWatch Today

The FDIC scheduled a board meeting for tomorrow to vote on its ICBA-opposed proposals to dramatically increase deposit insurance assessments and to eliminate its Office of Supervisory Appeals.

While a must-pass defense bill excludes ICBA-opposed legislation that would create new credit card routing mandates, ICBA continues urging community bankers to speak out against the proposed Durbin Amendment expansion.

Federal Reserve Governor Christopher Waller laid out his opposition to a U.S. central bank digital currency, saying he is “highly skeptical” of the need for a digital dollar.

The new ICBA Foundation Disaster Relief Program has raised more than $25,000 in its first 48 hours to assist community bank employees affected by Hurricane Ian—but more donations are needed from community bankers nationwide to support industry colleagues in Florida.

The Senate version of a must-pass defense bill introduced this week excludes ICBA-opposed legislation that would create new credit card routing mandates, though the threat of the Durbin Amendment expansion remains.

The Alternative Reference Rates Committee released survey results that found most respondents indicated they have documented plans in place to remediate USD LIBOR business loans prior to LIBOR’s discontinuation June 30, 2023, though more work remains.

The Consumer Financial Protection Bureau published a report raising questions about whether some marketing deals between colleges and financial institutions comply with Department of Education rules.

ICBA and 44 state community banking associations called on Congress to oppose legislation that would create new credit card routing mandates that expand on Durbin Amendment interchange restrictions.

Acting Comptroller of the Currency Michael Hsu warned of risks posed by crypto-assets and laid out some of his priorities for bringing them within the regulatory perimeter.

The Edward Jones Investments parent company said it withdrew plans to establish the Edward Jones Bank ILC following recent conversations with the FDIC and Utah Department of Financial Institutions.

Though consumers have embraced ACH and wire transfers as essential ways to pay and move money, digital tools, such as Apple Pay and Google Pay wallets, Venmo and Cash App, and other digital convenience offerings have increasingly become popular payment methods for consumers due to their convenience and speed.

Uber’s former chief security officer was convicted of failing to disclose a 2016 data breach in the first criminal prosecution of an executive related to the handling of a breach.