ICBA is calling on community bankers to urge their members of Congress to support a resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule ahead of a House vote slated for today.
Consumer Financial Protection Bureau Director Rohit Chopra faced questions from Congress about the bureau’s Section 1071 small-business data reporting rule.
ICBA said it agrees with an FDIC proposal to implement resolution planning for banks with at least $100 billion in assets but said banks between $50 billion and $100 billon should generally be exempt.
Community banks reported a 4.8% third-quarter decline in net income from the previous quarter and a 15% decrease from the same period a year ago, according to the FDIC’s latest Quarterly Banking Profile.
ICBA is calling on community bankers to urge their members of Congress to support a resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule ahead of a House vote slated for this week.
The Financial Crimes Enforcement Network extended the deadline for certain reporting companies to file their initial reports on beneficial ownership information.
With the House expected to vote this week on an ICBA-advocated resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule, ICBA is calling on community bankers to urge their members of Congress to support the measure.
