NewsWatch Today

The Consumer Financial Protection Bureau said there has been a “notable trend” of banks changing overdraft programs as the bureau begins targeting overdraft and non-sufficient fund fees.

ICBA and the Cybersecurity and Infrastructure Security Agency are hosting a tabletop exercise on several dates starting next week to support community bank cybersecurity.

The Senate Banking Committee scheduled a hearing for next week on the President’s Working Group on Financial Markets report on stablecoins.

The House Financial Services Committee is scheduled to meet next week for a hearing on federal support for minority depository institutions and community depository financial institutions.

Policymakers should take a comprehensive, coordinated regulatory approach to stablecoins and other digital assets, ICBA told the House Financial Services Committee.

With the Financial Crimes Enforcement Network now required to collect beneficial ownership information directly from reporting companies, it should withdraw its requirement that banks collect this information as well, ICBA told the agency.

The National Taxpayers Union encouraged key congressional committees to consider whether credit unions should continue to be exempt from filing Form 990 returns, which most tax-exempt organizations are required to file annually.

Paycheck Protection Program borrowers may request an SBA loan review of partial forgiveness decisions issued by their PPP lenders, according to a recent SBA procedural notice.

ICBA called on the Senate to advance a House-passed amendment to establish a cannabis banking safe harbor, which community bankers can advocate in custom messages to senators.

Independent Community Bankers of America President and CEO Rebeca Romero Rainey issued the following statement on the House’s latest passage of legislation to establish a cannabis banking safe harbor.

The House passed legislation with an ICBA-advocated amendment to establish a cannabis banking safe harbor, which community bankers can call on the Senate to pass.

Registration is open for the 2022 ICBA Capital Summit, the industry’s premier advocacy event scheduled for May 1-4 in Washington, D.C.