NewsWatch Today

With FDIC Acting Chairman Martin Gruenberg telling Congress this week that he expects regulators to release a final rule modernizing Community Reinvestment Act regulations during the early part of next year, ICBA reiterated its call for the federal banking agencies to issue a uniform rule that minimizes new data collection and reporting burdens for community banks.

ICBA expressed support for a new bipartisan letter from members of Congress urging the Federal Housing Finance Agency to align its capital rules with those of federal banking regulators to avoid penalizing community banks for supporting local communities during the COVID-19 pandemic.

The OCC published its assessment rates for the 2023 calendar year, reducing the rates in its general assessment fee schedule and maintaining its 2022 rates for the independent trust and independent credit card fee schedules.

FDIC Acting Chairman Martin Gruenberg told lawmakers he anticipates regulators will release a final rule reforming Community Reinvestment Act regulations during the early part of next year.

ICBA is calling on community bankers to urge their members of Congress to pass legislation before year-end that would establish a cannabis banking safe harbor in states where cannabis is legal.

Washington continued to escalate its response to instability in the crypto sector as the Senate Finance Committee’s chairman questioned leading crypto exchanges on their consumer protections.

ICBA responded to a Consumer Financial Protection Bureau request for information on encouraging residential mortgage loan refinances by calling on the bureau to reduce unnecessary compliance burdens for community banks.

The Consumer Financial Protection Bureau issued a final rule with its annual adjustment to the maximum amount consumer reporting agencies may charge consumers for making a file disclosure to a consumer under the Fair Credit Reporting Act.

With Congress returning to Washington this week for the final leg of the lame-duck session, ICBA is pushing several key legislative priorities and calling on community bankers to weigh in with lawmakers via ICBA’s Be Heard grassroots action center.

ICBA next week is hosting a complimentary post-election briefing on the midterm election results and pending regulatory actions affecting community banks.

The FDIC and Federal Reserve released results of their review of the resolution plans of the eight largest and most complex U.S. banks, finding shortcomings only in Citigroup’s living will.

ICBA released the latest episode of its newly revamped podcast: “Independent Banker: A Community Banking Podcast from ICBA.”