NewsWatch Today

The Financial Stability Board issued a progress report on its implementation of high-level recommendations on regulating “global stablecoin” arrangements.

A group of 15 Republican senators led by Tim Scott (S.C.) continued pushing back against ICBA-opposed proposed changes to the SBA 7(a) loan program.

The Justice Department has launched a team to target cryptocurrency platforms that support money laundering, a top DOJ official said

Central bankers and international securities regulators issued guidance on how financial market principles would apply to stablecoins.

ICBA’s campaign against the reconciliation package’s IRS reporting proposal picked up additional steam with a Wall Street Journal editorial opposing the measure.

Market participants should act now to accelerate their transition away from LIBOR, Federal Reserve Vice Chair for Supervision Randal Quarles said.

ICBA continued its pushback against the U.S. Postal Service’s quiet launch of a financial services pilot program to test postal banking.

ICBA’s Minority Bank Advisory Council continued its opposition to the Biden administration’s proposal to require banks to report customer account information to the IRS.

House Small Business Committee Ranking Member Blaine Luetkemeyer (R-Mo.) expressed concerns with ICBA-opposed proposed changes to the SBA 7(a) loan program.

The Biden administration’s upcoming report on digital assets will include recommendations on imposing bank-like regulation on crypto companies that issue stablecoins, The Wall Street Journal reported.

ICBA called on Congress to reject proposed changes to the SBA 7(a) loan program that would displace community bank SBA lending.

With Cybersecurity Awareness Month kicking off today, ICBA is offering community banks various resources to participate.