NewsWatch Today

Only 20% of community banks feel fully prepared for the succession of their CEO and other executives to the next generation, according to a recent article in Independent Banker magazine.

Federal Reserve Governor Michelle Bowman said regulators need to understand emerging technologies such as artificial intelligence, blockchain, and tokenization, including how they may be used in the financial system and who has the ultimate responsibility over them.

The Conference of State Bank Supervisors said the FDIC’s proposed bank merger policy would create more challenges than benefits for the banking industry, especially for community banks.

ICBA’s Independent Banker magazine opened nominations for its 2024 Best Community Banks to Work For awards, sponsored by FIS.

Nearly all central banks are researching whether to issue a central bank digital currency, according to a Bank for International Settlements survey.

In recognition of World Elder Abuse Awareness Day, the Financial Crimes Enforcement Network reminded financial institutions to remain vigilant in identifying and reporting suspicious activity related to elder financial exploitation. FinCEN offers resources to help stakeholders.

President Joe Biden announced his intent to nominate Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corporation.

Join ICBA experts for a quarterly update on industry news and highlights on Thursday, June 27, at 2 p.m. (Eastern time). Register here.

Consumer Financial Protection Bureau Director Rohit Chopra provided his semi-annual report to the House Financial Services Committee. Highlights:

ICBA and ICBA CRA Solutions released tips for preventing elder financial abuse in recognition of World Elder Abuse Awareness Day on Saturday, June 15.

Consumer Financial Protection Bureau Director Rohit Chopra described the CFPB’s focus on financial data, medical debt, and credit cards during his semi-annual report to the Senate Banking Committee.

The Federal Open Market Committee voted to hold target interest rates steady, due to an uncertain economic outlook and inflation risks.