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CFPB issues guidance on credit denials by lenders using AI

Sep 20, 2023 | NewsWatch Today
The Consumer Financial Protection Bureau issued guidance about certain legal requirements that lenders must adhere to when using artificial intelligence and other complex models.

Another court rules against CFPB’s 1071 rule

Sep 18, 2023 | NewsWatch Today
Another federal district court has ruled that the Consumer Financial Protection Bureau may not enforce its Section 1071 small-business rule until the Supreme Court rules on the constitutionality of the bureau’s funding structure.

ICBA, groups oppose effort to slip credit card bill into military funding package

Sep 18, 2023 | NewsWatch Today
ICBA and other groups expressed united opposition to efforts by Sens. Roger Marshall (R-Kan.) and Richard Durbin (D-Ill.) to attach their ICBA-opposed credit card routing bill to a must-pass appropriations bill.

Senate panel to mark up cannabis banking bill this month

Sep 18, 2023 | NewsWatch Today
The Senate Banking Committee said it would meet Sept. 27 to consider ICBA-advocated legislation to establish a safe harbor from federal sanctions for financial institutions that serve cannabis-related businesses in states where cannabis is legal.

CFPB updates FAQs on 1071 rule

Sep 15, 2023 | NewsWatch Today
The Consumer Financial Protection Bureau updated its frequently asked questions on its Section 1071 small-business rule.

Innovation and relationship banking define community bank value proposition: ICBA leaders

Sep 15, 2023 | NewsWatch Today
Data show that consumers and small businesses value the symbiotic relationship between innovation and relationship banking that community banks offer, ICBA community bankers wrote in a new LinkedIn post.

Romero Rainey: ICBA campaigns targeting credit union policies

Sep 15, 2023 | NewsWatch Today
With credit union executives in Washington this week for advocacy meetings, ICBA launched several campaigns to raise questions about credit union policies among lawmakers, ICBA President and CEO Rebeca Romero Rainey announced.

Senator renews push to advance ICBA-opposed credit card routing bill

Sep 15, 2023 | NewsWatch Today
ICBA is calling on community bankers to voice strong opposition to renewed efforts by Sen. Roger Marshall (R-Kan.) to force Senate consideration of legislation to advance credit card routing restrictions.

ICBA urges CBDC opposition at House hearing

Sep 15, 2023 | NewsWatch Today
ICBA reiterated to Congress its opposition to the creation of a U.S. central bank digital currency.

ICBA meets with OCC on re-presentment concerns

Sep 14, 2023 | NewsWatch Today
ICBA leadership community bankers and staff this week met with OCC officials on the agency’s supervisory approach to how banks treat single items that are repeatedly rejected for insufficient funds.

ICBA grassroots campaigns continue with Congress back in Washington

Sep 13, 2023 | NewsWatch Today
With Congress back in Washington following the August recess, ICBA continues its grassroots campaigns on key advocacy issues.

SEC’s Gensler to Congress: Securities laws apply to crypto industry

Sep 13, 2023 | NewsWatch Today
Securities and Exchange Commission Chair Gary Gensler told Congress that most crypto tokens and intermediaries are subject to U.S. securities laws despite the industry’s “wide-ranging noncompliance.”