NewsWatch Today

The Senate Banking Committee is scheduled to meet tomorrow for a subcommittee hearing on community development financial institutions.

Community bankers have for years warned of the expansion of credit union powers, but Navy Federal Credit Union’s new “Community Bank” brand indicates credit unions recognize they’ve gone too far, ICBA President and CEO Rebeca Romero Rainey wrote in a recent LinkedIn post.

The ICBA National Campaign Toolkit features numerous assets for community banks and state partners, including customizable audio ads.

The Consumer Financial Protection Bureau and Justice Department said in a joint statement that all credit applicants are protected from discrimination under the Equal Credit Opportunity Act, regardless of their immigration status.

The Commodity Futures Trading Commission charged the former head of failed crypto brokerage firm Voyager Digital with fraud and registration failures in connection with the digital asset platform.

The U.S. Faster Payments Council released a new resource for banks working to implement instant payments.

ICBA said it is reviewing new Consumer Financial Protection Bureau guidance requiring banks and credit unions over $10 billion in assets to provide account information requested by customers without charging fees.

The FDIC launched a national campaign to increase the public’s awareness of deposit insurance and how it can protect people’s money in the event of a bank failure.

Banking regulators should ensure changes to the regulatory framework do not harm the long-term viability of banks, especially midsized and smaller banks, Federal Reserve Governor Michelle Bowman said.

Community bankers have for years warned of the expansion of credit union powers, but Navy Federal Credit Union’s new “Community Bank” brand indicates credit unions recognize they’ve gone too far, ICBA President and CEO Rebeca Romero Rainey writes in a new LinkedIn post.

Federal Reserve Board Governor Michelle Bowman recognized community banker concerns with proposed changes to the community development financial institution certification application.

ICBA expressed support for a recently introduced House bill based on an ICBA proposal to speed up approval times for USDA loans and thereby enhance access to credit in rural communities.