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Fed article explores “token-based and “account-based” digital currency distinctions

Aug 17, 2020 | NewsWatch Today
A New York Fed blog by Rod Garratt, Michael Lee, Brendan Malone, and Antoine Martin explores common distinctions made between “token-based” and “account-based” digital currencies.

Blog discusses intersection between fintech and regulation

Aug 17, 2020 | NewsWatch Today
Unless you have been living on a desert island for the past few years, you would be hard-pressed to miss the technological revolution that is sweeping our nation’s financial system and the larger global economy, ICBA’s Chris Cole and Charles Potts write in a recent Main Street Matters blog.

Regulators clarify enforcement actions for BSA/AML violations

Aug 17, 2020 | NewsWatch Today
The federal financial regulatory agencies issued a joint statement clarifying their enforcement approach for Bank Secrecy Act/anti-money laundering obligations and the circumstances under which an agency would take action to address BSA/AML deficiencies.

ICBA Responds to GSE decision to impose 50bp fee on mortgage refinances

Aug 14, 2020 | NewsWatch Today
Plans to impose a 50 basis point fee on most refinance mortgages delivered to Fannie Mae and Freddie Mac after Sept. 1 will unnecessarily raise the cost of mortgage credit for consumers.

ICBA ThinkTECH partner named top accelerator program by Finovate

Aug 14, 2020 | NewsWatch Today
ICBA’s ThinkTECH Accelerator partner, The Venture Center, will be recognized during the Finovate fall virtual conference in September for its efforts to nurture quality fintech companies and prime them for success.

Op-ed notes rising credit union acquisitions in the Midwest

Aug 14, 2020 | NewsWatch Today
The recent purchase of West End Bank by 3Rivers Federal Credit Union last month, is part of a disturbing trend of large, billion-dollar credit unions buying small community banks, writes Thomas Aiello of the National Taxpayers Union.

Grassroots push continues amid stimulus debate

Aug 14, 2020 | NewsWatch Today
As negotiations over the next emergency stimulus package continue, ICBA is calling on community bankers to urge needed reforms.

ICBA kicks off ThinkTECH 3.0

Aug 13, 2020 | NewsWatch Today
ICBA announced the kickoff of its third ICBA ThinkTECH Accelerator program in partnership with The Venture Center.

Blog discusses intersection between fintech and regulation

Aug 13, 2020 | NewsWatch Today
Unless you have been living on a desert island for the past few years, you would be hard-pressed to miss the technological revolution that is sweeping our nation’s financial system and the larger global economy, ICBA’s Chris Cole and Charles Potts write in a new blog post.

Kennedy to FDIC: Stop companies from taking advantage of ILC loophole

Aug 13, 2020 | NewsWatch Today
Sen. John Kennedy (R-La.) wrote to FDIC Chairman Jelena McWilliams urging her not to allow industrial loan companies to exploit a loophole in the Bank Holding Company Act during the coronavirus pandemic.

CISA issues alert on SBA COVID-19 relief website attack

Aug 13, 2020 | NewsWatch Today
The Cybersecurity and Infrastructure Security Agency issued an alert concerning an unknown malicious cyber actor spoofing the Small Business Administration's COVID-19 relief webpage via phishing emails.

SBA issues interim final rule on loan review, updates FAQs

Aug 12, 2020 | NewsWatch Today
The SBA released an interim final rule on appeals of SBA loan review decisions under the Paycheck Protection Program that outlines the process for borrowers to appeal adverse SBA decisions.