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Agencies propose standards for computer security incident notifications

Dec 21, 2020 | NewsWatch Today
Federal banking agencies issued a proposal that would require banks to promptly notify their primary federal regulator after a computer security incident.

FinCEN proposes virtual currency recordkeeping rules

Dec 21, 2020 | NewsWatch Today
The Financial Crimes Enforcement Network issued a proposed rule to increase transparency of certain transactions involving convertible virtual currency or digital assets with legal tender status.

SolarWinds criminals narrow follow-up attacks: Microsoft

Dec 21, 2020 | NewsWatch Today
The cyber criminals who targeted the SolarWinds Orion Platform appear to have limited their follow-up attacks to a relatively small number of IT and government enterprises, according to a blog post from Microsoft President Brad Smith.

CFPB issues follow-up debt-collection rule

Dec 21, 2020 | NewsWatch Today
The Consumer Financial Protection Bureau issued a final rule to implement Fair Debt Collection Practices Act requirements for certain consumer disclosures. The rule requires debt collectors to provide detailed disclosures at the outset of collection communications.

CISA follow-up call today on SolarWinds

Dec 18, 2020 | NewsWatch Today
The Cybersecurity and Infrastructure Security Agency today is hosting a follow-up call on the supply chain attack on the SolarWinds Orion Platform and subsequent customer breaches.

NCUA approves subordinated debt rule

Dec 18, 2020 | NewsWatch Today
The National Credit Union Administration board approved an ICBA-opposed final rule that will allow the largest and most complex credit unions to issue subordinated debt to institutional investors.

Agencies adjust CRA asset thresholds

Dec 18, 2020 | NewsWatch Today
Federal regulators announced the annual adjustment to Community Reinvestment Act thresholds. Effective Jan. 1, the “small bank” or “small savings association” designation applies to institutions that as of Dec. 31 of either of the prior two calendar years had assets of less than $1.322 billion.

SolarWinds: What community banks need to know

Dec 17, 2020 | NewsWatch Today
The supply chain attack on the SolarWinds Orion Platform and subsequent customer breaches is affecting every corner of the economy, including community banking, ICBA President and CEO Rebeca Romero Rainey wrote.

FDIC study: Community banks critical to key economic areas

Dec 17, 2020 | NewsWatch Today
The FDIC issued a new study that found community banks serve a critical role in providing access to credit in several key areas of the U.S. economy, particularly commercial real estate, small businesses, and agriculture.

NCUA board meeting today on subordinated debt

Dec 17, 2020 | NewsWatch Today
The National Credit Union Administration board is scheduled to meet at 10 a.m. (Eastern time) today to vote on an ICBA-opposed final rule allowing credit unions to issue subordinated debt as an alternative form of capital.

SolarWinds-related breaches: What community banks need to know

Dec 16, 2020 | NewsWatch Today
The supply chain attack on the SolarWinds Orion Platform, and the subsequent breaches to its customers, is a significant cybersecurity event that is affecting every corner of the public and private sectors, including community banking.

FDIC proposes amendments to SAR regs

Dec 16, 2020 | NewsWatch Today
The FDIC proposed a rule to amend the agency’s Suspicious Activity Report regulation. The proposal would permit the FDIC to issue additional, case-by-case exemptions from SAR filing requirements to FDIC-supervised institutions.