NewsWatch Today

A group of House members led by Rep. Chrissy Houlahan (D-Pa.) sent an ICBA-supported letter to the Small Business Administration calling for common-sense reform to Paycheck Protection Program loan forgiveness.

Sen. Mike Lee (R-Utah) introduced legislation to prohibit the Federal Reserve from issuing a central bank digital currency.

Lead co-sponsors of ICBA-advocated legislation to allow legal cannabis-related businesses to access banking services said they are working with key senators to advance the House-passed bill in the Senate.

The Consumer Financial Protection Bureau said the Fair Credit Reporting Act requires credit report furnishers to investigate potential inaccuracies in consumer credit reports.

Community bankers can continue using ICBA’s Be Heard grassroots action center to oppose legislation that would create new credit card routing mandates that expand on Durbin Amendment payments interventions.

The Financial Crimes Enforcement Network underestimates the regulatory burden of information sharing requests between banks and law enforcement under the USA PATRIOT Act, ICBA told the agency.

The OCC announced the appointment of Yue (Nina) Chen as chief climate risk officer. Chen will lead the agency’s Office of Climate Risk and development of climate risk management frameworks for the federal banking system.

The Farm Credit Administration reported that tight labor markets, rising interest rates, a strong dollar, high energy prices, and drought conditions are creating uncertainty in rural economies and farm input prices—though the Farm Credit System is reporting favorable financial results.

The OCC will reduce assessment rates on OCC-chartered community banks by 40% starting next year, Acting Comptroller of the Currency Michael Hsu announced.

ICBA recognized National Preparedness Month in September by issuing tips to help Americans secure their financial documents before disaster strikes.

ICBA this week expressed strong opposition to legislation that would create new credit card routing mandates that expand on Durbin Amendment payments interventions.

The Federal Reserve said it will raise order limits for nickels, dimes, and quarters, effective Tuesday. Limits for pennies are unchanged.