NewsWatch Today

ICBA and 10 industry associations requested that the FDIC withdraw its proposed rulemaking relating to brokered deposit restrictions. If the FDIC does not withdraw the proposed rule, the associations requested that the FDIC publish its brokered deposits data and extend the comment period by 60 days.

The U.S. District Court for the Northern District of Texas issued a decision setting aside the Federal Trade Commission’s non-compete ban and prohibiting the FTC from enforcing the rule.

ICBA and 10 industry associations requested that the FDIC extend by 60 days the comment period for its request for information on deposits. The comment deadline is currently October 7, 2024.

The latest issue of Independent Banker magazine highlights ICBA-member community banks that are celebrating their 150th, 125th, or 100th anniversary.

Community banks are indispensable in providing access to financial products and services, especially in remote or rural areas, according to Federal Reserve Governor Michelle Bowman.

Community banks need to take formal actions to ensure discount window access, and bank management needs to understand the mechanics of discount window borrowing even if there is no immediate need for liquidity, according to the Federal Reserve.

Urgent congressional action is needed to preserve community banks and the communities that depend on them, ICBA President and CEO Rebeca Romero Rainey said.

Federal Reserve Governor Christopher Waller voiced concern about the risks from emerging payment technologies, especially non-banks and stablecoins.

Community banks saw weakened liquidity at the end of 2023 but had favorable asset quality and loan numbers, according to the latest FDIC podcast.

The Consumer Financial Protection Bureau updated its 2025 Small Business Lending Filing Instructions Guide.

The Internal Revenue Service announced it has formed a coalition with state tax agencies and the tax industry to combat the growth of scams and schemes threatening taxpayers and tax systems.

The FDIC published questions and answers related to its final rule governing the usage of official FDIC signs, advertising, name, logo, and more.