The Consumer Financial Protection Bureau and OCC announced penalties against Bank of America for assessing multiple overdraft and non-sufficient-funds fees against customers for a single transaction, among other practices.
ICBA is calling on community bankers to send individual comment letters to the FDIC to support the agency’s proposal to exempt community banks under $5 billion in assets from its proposed special assessment.
The Consumer Financial Protection Bureau’s policy statement that explains the legal prohibition on abusive conduct in consumer financial markets fails to acknowledge the myriad rules and regulations that apply to insured depository institutions, ICBA said.
The Federal Reserve Bank of New York Innovation Center released reports on its research into an interoperable network for wholesale payments using a distributed ledger shared by multiple entities.
The latest episode of ICBA’s “Independent Banker” podcast features an interview with community bankers showcased in Independent Banker magazine’s "40 Under 40" list of emerging community bank leaders.
Nearly every member of the Federal Reserve’s rate-setting body said additional interest rate increases would be appropriate in 2023, according to the minutes of last month’s meeting.
The Consumer Financial Protection Bureau said it will host a hearing next week on medical billing and collections issues, including medical credit cards and installment loans.
ICBA continues calling on community bankers to use its Be Heard grassroots resource center to urge their members of Congress to oppose legislation to impose routing mandates on credit card transactions.
The Consumer Financial Protection Bureau is now accepting applications for membership on the Community Bank Advisory Council and other advisory committees through July 16.
