NewsWatch Today

National Credit Union Administration Chairman Todd Harper said his agency’s lack of oversight of credit union service organizations is an Achilles’ heel for the credit union system.

While federal agencies have some regulatory authority to oversee digital assets, Congress should develop a framework to close gaps in oversight, Treasury Secretary Janet Yellen told the House Financial Services Committee.

ICBA, the Independent Bankers Association of Texas, Texas Bankers Association, Amarillo Chamber of Commerce, American Bankers Association, U.S. Chamber of Commerce, and Longview Chamber of Commerce filed a lawsuit against the federal banking regulators for exceeding their statutory authority with their recent Community Reinvestment Act final rule.

House Financial Services Ranking Member Maxine Waters (D-Calif.) and other Democratic committee members urged Chairman Patrick McHenry (R-N.C.) to hold a hearing on reports of discriminatory lending at Navy Federal Credit Union.

ICBA continues calling on community bankers to urge their members of Congress to support bills that would close the industrial loan company loophole and protect the financial privacy of mortgage applicants.

The Financial Crimes Enforcement Network published a 60-day notice to renew the Office of Management and Budget control numbers assigned to Currency Transaction Reports.

The nonpartisan Tax Foundation released a new report calling on policymakers to wean credit unions off taxpayer subsidies.

ICBA is calling on community bankers to urge their members of Congress to support bills that would close the industrial loan company loophole and protect the financial privacy of mortgage applicants.

Federal Reserve Governor Michelle Bowman said she is concerned that federal regulators respond to financial industry risks by focusing too much on regulated banks.

The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary offers tips for educating commercial customers on identity theft.

The Senate Banking Committee spotlighted ICBA concerns with how check fraud enabled by large financial institutions and the U.S. Postal Service is affecting community banks and their customers.

A Tennessee appellate court overturned a decision by the state’s banking regulator to block a credit union acquisition of a bank.