NewsWatch Today

ICBA and a broad coalition of business groups expressed strong opposition to a proposal that would require financial institutions to report information on customer bank accounts to the IRS.

Securities and Exchange Commission Chair Gary Gensler said securities regulations apply to platforms that offer crypto tokens or other products that are priced off the value of securities and operate like derivatives.

Nacha launched an opt-in program to facilitate the return and recovery of potentially fraudulent unemployment benefits originally paid by ACH credits.

ICBA and other organizations called on Senate infrastructure negotiators to refrain from using Fannie Mae and Freddie Mac guarantee fees as a source of funding.

The OCC said it will propose rescinding its May 2020 Community Reinvestment Act rule and work with other agencies on a joint rulemaking.

A lawsuit on the Consumer Financial Protection Bureau’s implementation of small-business data collection and reporting rules determined that the bureau will issue a proposed rulemaking by Sept. 30, 2021, according to the Ballard Spahr law firm.

ICBA welcomed the Federal Housing Finance Agency’s announcement that it will eliminate an ICBA-opposed fee on refinance loans delivered to the government-sponsored enterprises.

The Consumer Financial Protection Bureau recently published a blog post for consumers on buy-now-pay-later credit.

ICBA is forming BankTech Ventures, an investment fund designed to accelerate technology opportunities and adoption at community banks.

Postal banking is a risky venture for which the U.S. Postal Service is ill suited, ICBA told Congress in its latest issue brief.

Following the recent Senate introduction of legislation to provide rural lending tax relief, ICBA is calling on community bankers to urge their lawmakers in both chambers of Congress to co-sponsor the measure.

The Financial Accounting Standards Board this week agreed to add a project to its technical agenda to investigate the suspension of troubled debt restructuring accounting for entities that have adopted the Current Expected Credit Losses accounting standard.