NewsWatch Today

Following the latest acquisition of a tax-paying community bank by a tax-exempt credit union, ICBA continued its call for Congress to eliminate the federal tax exemption for credit unions over $1 billion in assets.

With Congress potentially taking up tax legislation when it returns from the current congressional recess, ICBA is calling on community bankers to urge their lawmakers to co-sponsor legislation that would provide tax relief to support rural lending.

House Financial Services Committee Ranking Member Maxine Waters (D-Calif.) and 87 House Democrats asked Treasury Secretary Scott Bessent to exclude the CDFI Fund from a recent executive order directing it to scale back operations.

With Congress potentially taking up tax legislation when it returns from the current congressional recess, ICBA is calling on community bankers to urge their lawmakers to co-sponsor legislation that would provide tax relief to support rural lending.

ICBA is seeking 12-15 community bankers to join its working group on cross-border payments.

House Financial Services Committee Chairman French Hill (R-Ark.), Rep. Byron Donalds (R-Fla.), and Deputy Treasury Secretary Michael Faulkender are scheduled to speak during next month’s ICBA Capital Summit in Washington, D.C.

ICBA ThinkTECH Connect—which provides a quick look at fintech companies that may be of interest to community banks—is scheduled for noon (Eastern time) this Thursday, April 24.

The FDIC modified its approach to resolution planning for large banks.

The Federal Reserve proposed changes that would reduce the volatility of capital requirements stemming from its annual stress test results.

At ICBA Capital Summit—slated for May 12-15 in Washington, D.C.—community bankers engage in important discussions about the future of community banking, advocate for policies that support local economies, and share best practices with peers, according to the latest Independent Banker magazine.

In response to the OCC’s decision to combine its community, midsize, and large bank supervision functions, ICBA said merging supervisory functions threatens to dilute the nuanced oversight that effective community bank supervision requires in favor of a one-size-fits-all model.

Banks play a critical role in safeguarding against deepfake-driven fraud given their direct handling of financial transactions and sensitive customer data, according to Federal Reserve Governor Michael Barr.