NewsWatch Today

ICBA is calling on community bankers to submit personalized comments on the Consumer Financial Protection Bureau’s proposal to implement Dodd-Frank Section 1071 collection and reporting requirements.

ICBA continued its grassroots efforts against a provision under consideration in the Build Back Better reconciliation bill that would authorize the Small Business Administration from making direct loans under the 7(a) program.

The Consumer Financial Protection Bureau raised the annual threshold adjustment maximum that consumer reporting agencies may charge consumers for making a file disclosure to a consumer under the Fair Credit Reporting Act.

Five Democratic senators reportedly don't support Saule Omarova’s nomination to lead the Office of the Comptroller of the Currency, raising fresh doubts about her confirmation after ICBA and state community banks groups expressed opposition.

The Cybersecurity and Infrastructure Security Agency and FBI issued a cybersecurity reminder for public and private sector organizations to remain vigilant against ransomware and other cyberattacks during the holiday season.

Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are scheduled to testify this week before the Senate Banking and House Financial Services committees.

Federal regulators said they plan to provide greater regulatory clarity on crypto-related activities next year, with the OCC issuing an interpretive letter with guidance on digital assets.

The SBA Office of Advocacy expressed support for ICBA and state banking associations’ request that the Consumer Financial Protection Bureau extend the comment deadline on its proposal to implement Dodd-Frank Section 1071 collection and reporting requirements.

ICBA said it is largely supportive of proposed amendments to the Federal Housing Finance Agency’s final capital rule, though it cautioned the agency not to allow Fannie and Freddie to become overly reliant on credit risk transfers.

ICBA congratulated Federal Reserve Chairman Jerome Powell and Fed Governor Lael Brainard after President Joe Biden said he intends to nominate them for new terms at the agency.

Legislation to bar SBA direct lending under its 7(a) loan program was introduced amid an ICBA grassroots campaign opposing the policy.

ICBA told the SBA it should continue partnering with community banks rather than attempting to remove them from the loan origination process.