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FinCEN proposes SAR-sharing pilot program

Jan 25, 2022 | NewsWatch Today
The Financial Crimes Enforcement Network proposed establishing a limited-duration pilot program for sharing suspicious activity reports, in accordance with Section 6212 of the Anti-Money Laundering Act of 2020.

Feds revamp Child Tax Credit website

Jan 25, 2022 | NewsWatch Today
The federal government relaunched a revamped website—ChildTaxCredit.gov—to help taxpayers file their taxes and access the remainder or the full amount of the expanded Child Tax Credit.

Fed issues long-awaited CBDC discussion paper

Jan 21, 2022 | NewsWatch Today
The Federal Reserve Board released a long-awaited discussion paper that examines the pros and cons of a potential U.S. central bank digital currency, or CBDC.

ACH Network volume rises 6.1% in Q4

Jan 21, 2022 | NewsWatch Today
ACH Network volume increased 6.1% in the fourth quarter of 2021 from a year earlier, Nacha reported.

CFPB to examine colleges’ in-house lending practices

Jan 20, 2022 | NewsWatch Today
The Consumer Financial Protection Bureau said it will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students.

CFPB to focus on credit card market competition

Jan 20, 2022 | NewsWatch Today
The Consumer Financial Protection Bureau said it is looking to ensure there is robust and fair competition in the credit card market as debt rises following pandemic declines.

House Republican joins ILC push as co-sponsor

Jan 20, 2022 | NewsWatch Today
ICBA-advocated legislation to close the industrial loan company loophole added a House Republican co-sponsor.

CFPB study: Depositories lead on supplier diversity

Jan 20, 2022 | NewsWatch Today
A Consumer Financial Protection Bureau study on diversity and inclusion in the financial services sector found depository lenders had the strongest showing in the area of supplier diversity.

Postal banking pilot lands just six sales: report

Jan 19, 2022 | NewsWatch Today
An ICBA-opposed U.S. Postal Service pilot program to test postal banking has served just six individuals since it quietly launched in September, according to a new report.

Biden nominates three to round out Fed board

Jan 18, 2022 | NewsWatch Today
President Joe Biden announced three nominations to fill openings on the Federal Reserve Board.

FS-ISAC breaks down cyber incident reporting

Jan 18, 2022 | NewsWatch Today
The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary report details when and how to report cyber incidents to the federal government.

CFPB announces settlement on consumer task force

Jan 18, 2022 | NewsWatch Today
The Consumer Financial Protection Bureau settled a lawsuit alleging that its Taskforce on Federal Consumer Financial Law did not comply with the Federal Advisory Committee Act.