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The Financial Stability Board said that even if a stablecoin is properly designed and well-regulated, “it may not necessarily have a positive impact on cross-border payments as the drawbacks could outweigh any potential benefits.”

House Agriculture Committee Chairman Glenn “GT” Thompson (R-Pa.) said the farm bill his committee passed earlier this year responds to the challenges facing farm country, though the farm bill debate remains stalled.

Federal banking regulators formally requested comment on a proposed rule that would amend Bank Secrecy Act requirements for anti-money-laundering and countering-the-financing-of-terrorism programs.

The Consumer Financial Protection Bureau proposed an interpretive rule that says many paycheck advance products are consumer loans subject to the Truth in Lending Act.

ICBA thanked Acting Comptroller of the Currency Michael Hsu for highlighting the formation of ICBA’s Check Fraud Task Force and the Financial Sector Fraud Working Group in a recent speech on financial fraud.

ICBA expressed support for Acting Comptroller of the Currency Michael Hsu’s remarks about increasing concentration in the banking industry and the separation of banking and commerce.

Credit unions are acquiring community banks at a record rate, and outdated policies are subsidizing these deals, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed in American Banker.

Federal regulators issued final guidance addressing reconsiderations of value for residential real estate transactions.

Credit unions are acquiring community banks at a record rate, and outdated policies are subsidizing these deals, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed in American Banker.

The Basel Committee on Banking Supervision published targeted amendments to its cryptoasset standard to tighten the criteria for certain stablecoins to receive a preferential regulatory treatment, which included an exclusion that ICBA strongly backed.

Federal financial services regulators formally issued a final rule to implement quality control standards for automated valuation models, or AVMs, which mortgage lenders use to value real estate collateral.

A recent Federal Home Loan Bank of New York decision to impose new reporting requirements on member banks will restrict access to home loans, ICBA said.