NewsWatch Today

After 12 fully immersive weeks and hundreds of meetings with industry stakeholders, the ICBA ThinkTECH Accelerator 2021 cohort revealed a glimpse into the future of high-tech, high-touch solutions tailored for community banks and their customers.

Federal Reserve Bank Chief Innovation Officer Dan Anthony will outline the agency’s technology strategy and next steps in preparation for the rollout of its FedNow Service during a 90-minute webinar next month.

The Consumer Financial Protection Bureau announced a settlement with Settlelt over allegations that it engaged in unfair acts and practices. The complaint alleges that the company failed to disclose its relationship to certain creditors.

ICBA submitted a comment letter in response to a notice of proposed rulemaking requiring banks to notify their primary federal regulator within 36 hours of a computer-security incident.

Federal Reserve Chairman Jerome Powell said the economy is at an “inflection point” and could experience rapid growth upwards of 6 percent or 7 percent this year in an interview on CBS’ 60 Minutes.

President Joe Biden announced his intent to nominate Chris Inglis as National Cyber Director and Jen Easterly as the Director of the Cybersecurity and Infrastructure Agency.

Federal regulators issued a joint statement addressing how risk management principles in “Supervisory Guidance on Model Risk Management” relate to banking systems or models designed for Bank Secrecy Act compliance.

The FDIC said it is seeking input on potentially modernizing its sign and advertising requirements related to FDIC deposit insurance to better reflect how banks and consumers operate.

ICBA called on the USDA to ensure lenders are compensated for lost income as it prepares to pay off direct and guaranteed farm loans held by Socially Disadvantaged Farmers and Ranchers.

The Federal Reserve issued a recommended definition of “synthetic identity fraud” after convening an industry group.

ICBA and other groups recommended improvements to how the IRS issues Economic Impact Payments.

The IRS and Treasury Department said they are disbursing more than 25 million payments in the fourth batch of Economic Impact Payments under the American Rescue Plan.