NewsWatch Today

ICBA’s Digital Transformation Demystified webinar series continues tomorrow with part three on building or perfecting a digital transformation plan.

House Financial Services Committee Chairman Patrick McHenry (R-N.C.) announced the panel’s majority staff for the 118th Congress. Staffers include Staff Director Matthew Hoffmann, Chief Counsel and Policy Director Kimberly Betz, and Director of Operations Lindsey Shackelford.

ICBA is mourning the passing of former ICBA President and CEO Ken Guenther, who died Wednesday. Guenther’s fierce passion for community banking has served as an inspiration for many in the industry.

The National Credit Union Administration board voted to extend the 18% interest rate ceiling for loans made by federal credit unions through Sept. 10, 2024.

ICBA called on the Consumer Financial Protection Bureau to limit the regulatory burden of its pending rulemaking to establish standards for sharing consumer financial data.

ICBA continued its campaign opposing changes to the Community Development Financial Institution certification application during a meeting with House Financial Services Committee Ranking Member Maxine Waters (D-Calif.).

The Consumer Financial Protection Bureau was incorrect in determining that the Truth in Lending Act does not preempt a recently enacted New York State disclosure law, ICBA said in a new comment letter.

ICBA and other groups called on the Consumer Financial Protection Bureau to comply with the Small Business Regulatory Enforcement Fairness Act as it considers reducing or eliminating the safe harbor fee that credit card issuers may charge to avoid scrutiny of their fees as unreasonable.

Senate Banking Committee members Mark Warner (D-Va.) and Mike Crapo (R-Idaho) encouraged the Treasury Department to consider all comments responding to its proposal to revise Community Development Financial Institution certification application and reporting requirements.

Fannie Mae and Freddie Mac will reduce their upfront fee for commingled securities to 9.375 basis points after announcing a 50-point fee last year, the Federal Housing Finance Agency announced.

The Federal Reserve is “determined to stay the course” to address inflation and restore price stability, Fed Vice Chair Lael Brainard said.

The Consumer Financial Protection Bureau issued a circular affirming that companies offering “negative option” subscription services must comply with federal consumer financial protection law.