The Treasury Department said families with roughly 61 million eligible children received more than $15 billion in the fifth batch of Advance Child Tax Credit payments, most via direct deposit.
House Financial Services Committee Republicans released principles to guide Congress in evaluating potential proposals for a U.S. central bank digital currency.
The community banking industry continued its media push against the IRS bank reporting proposal, which remains a threat even after it was recently left out of the framework guiding Democratic discussions.
Lawmakers reached an agreement on bipartisan cyber incident reporting legislation that includes ICBA-advocated updates to avoid excessive burdens on community banks.
The Consumer Financial Protection Bureau issued an advisory opinion affirming that consumer reporting companies engaging in “shoddy name-matching procedures” are violating the law.
ICBA called on Congress to extend Gramm-Leach-Bliley Act data security standards to retailers, technology companies, and other parties that process or store consumer financial data.
The OCC has concluded its review of bank charter applications and crypto-related interpretative letters and will be communicating its findings in the coming weeks, Acting Comptroller of the Currency Michael Hsu said.
ICBA is scheduled to testify at today’s House Financial Services Subcommittee on Consumer Protection and Financial Institutions hearing on cyber and data security.
