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ICBA, groups oppose effort to tie credit card bill to defense legislation

Jul 17, 2023 | NewsWatch Today
ICBA and other financial services groups expressed strong opposition to an attempt to advance credit card routing restrictions via this year’s National Defense Authorization Act, while ICBA continues its grassroots campaign against the measure.

ICBA: Community banks not ‘furnishers’ under fair credit law

Jul 17, 2023 | NewsWatch Today
Community banks should not be classified as data furnishers when data brokers obtain consumer information from a bank, ICBA told the Consumer Financial Protection Bureau.

CFPB: Most consumer complaints target credit reports

Jul 12, 2023 | NewsWatch Today
The Consumer Financial Protection Bureau said more than three-quarters of its consumer complaints in 2022 focused on credit or consumer reporting, primarily related to inaccurate information on consumer credit reports.

ICBA launches online community for members

Jul 12, 2023 | NewsWatch Today
ICBA announced the launch of ICBA Community—an online platform that provides professional networking and discussion opportunities exclusively for community bankers.

ICBA, state associations urge opposition to credit card routing bill

Jul 12, 2023 | NewsWatch Today
ICBA and 44 state community banking associations called on members of Congress to oppose the Credit Card Competition Act (S. 1838/H.R. 3881) while ICBA continues its grassroots campaign against the measure.

CFPB, OCC penalize BofA for re-presentment fees, other practices

Jul 12, 2023 | NewsWatch Today
The Consumer Financial Protection Bureau and OCC announced penalties against Bank of America for assessing multiple overdraft and non-sufficient-funds fees against customers for a single transaction, among other practices.

ICBA urging community banker comment letters on FDIC assessment proposal

Jul 10, 2023 | NewsWatch Today
ICBA is calling on community bankers to send individual comment letters to the FDIC to support the agency’s proposal to exempt community banks under $5 billion in assets from its proposed special assessment.

ICBA to CFPB: Guidance on abusive conduct doesn’t acknowledge other regulations

Jul 7, 2023 | NewsWatch Today
The Consumer Financial Protection Bureau’s policy statement that explains the legal prohibition on abusive conduct in consumer financial markets fails to acknowledge the myriad rules and regulations that apply to insured depository institutions, ICBA said.

N.Y. Fed says digital ledgers feasible for global payments

Jul 7, 2023 | NewsWatch Today
The Federal Reserve Bank of New York Innovation Center released reports on its research into an interoperable network for wholesale payments using a distributed ledger shared by multiple entities.

ICBA, groups support permanent Sub S tax deduction

Jul 7, 2023 | NewsWatch Today
ICBA and other groups expressed support for legislation to make permanent the 20% Section 199A deduction for small and individually owned businesses.

New ICBA podcast features ‘40 Under 40’ emerging leaders

Jul 6, 2023 | NewsWatch Today
The latest episode of ICBA’s “Independent Banker” podcast features an interview with community bankers showcased in Independent Banker magazine’s "40 Under 40" list of emerging community bank leaders.

Fed minutes: More rate hikes this year

Jul 6, 2023 | NewsWatch Today
Nearly every member of the Federal Reserve’s rate-setting body said additional interest rate increases would be appropriate in 2023, according to the minutes of last month’s meeting.