NewsWatch Today

Federal and state financial regulators issued a joint statement saying they recognize the serious impact of Hurricane Milton on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.

The agencies issued three annual threshold adjustment final rules, effective Jan. 1.

ICBA expressed support for an FDIC proposed rule that would enhance oversight of industrial loan companies.

ICBA’s Check Fraud Task Force published a guide that explains the solutions available to community banks to detect instances of check fraud.

Federal Reserve Governor Michelle Bowman said regulatory disparities between community banks and nonbank providers—including credit unions—can have a distortive effect on competition.

ICBA’s Check Fraud Task Force published a guide that explains the solutions available to community banks to detect instances of check fraud.

ICBA told the federal banking agencies that their proposals to update anti-money-laundering and countering-the-financing-of-terrorism programs would create additional burdens on banks without any demonstrable benefit to combatting money laundering or terror financing.

The Justice Department announced that Citadel Federal Credit Union has agreed to pay more than $6.5 million to resolve allegations that it engaged in lending discrimination by redlining predominantly Black and Hispanic neighborhoods in and around Philadelphia.

Following the 18th credit union acquisition of a community bank this year—and the fifth in Washington state—ICBA said Congress should address antiquated credit union policies.

The ICBA Foundation Disaster Relief Program continues requesting tax-deductible donations to assist community banks and employees affected by Hurricane Helene.

Federal Reserve Vice Chair Philip Jefferson encouraged comments on the Fed’s request for information on “operational frictions” associated with the discount window and intraday credit.

Generative artificial intelligence could help community banks identify potentially fraudulent activity and security flaws, according to the latest Independent Banker magazine.