NewsWatch Today

The Federal Open Market Committee raised the federal funds rate target by 25 basis points to a range of 4.5% to 4.75%.

The OCC issued a bulletin on changes to the loan-origination threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans following a recent court decision.

The FDIC extended by 45 days the public comment period for proposed changes to its regulations relating to the FDIC’s official sign, official advertising statement, deposit insurance misrepresentations, and misuse of the agency’s name or logo. Comments are now due by April 7.

ICBA said it supports several federal actions announced Friday that will help mitigate the risks posed by special-purpose depository institutions and digital assets.

The Federal Reserve released a guide on the six phases of the FedNow Service journey. The document shows key activities and decisions for organizations to prepare for and go live with FedNow.

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.