NewsWatch Today

Community banks have successfully employed strategies for managing climate-related financial risk, though the prevalence of risk will increase with climate change, FDIC Acting Chairman Martin Gruenberg said.

The Financial Crimes Enforcement Network issued a final rule establishing a beneficial ownership information reporting requirement.

With Hurricane Ian making landfall in Florida as a Category 4 hurricane, ICBA offers updates on its Hurricane Preparedness resource center.

FDIC Acting Chairman Martin Gruenberg reiterated his recent remarks that community banks have an outsized role in lending during times of distress and providing equitable access to financial services.

Federal Reserve Governor Michelle Bowman said the increase in credit union acquisitions of taxpaying community banks indicates regulators should rethink how they evaluate bank mergers.

ICBA updated its Hurricane Preparedness resource center with the latest on Hurricane Ian. With Ian on pace to make landfall with the west coast of Florida early Friday, the page offers community bankers tools to help weather the storm.

The Consumer Financial Protection Bureau is allowing its ICBA-supported policies on no-action letters and compliance assistance sandboxes to expire, cementing the agency’s transition away from Office of Innovation programs.

Several states announced cease-and-desist actions against cryptocurrency lender Nexo alleging that its interest-bearing accounts function as an unlicensed security.

With ICBA-opposed legislation to expand on the Durbin Amendment now introduced in both the House and Senate, ICBA is calling on community bankers to continue the grassroots campaign against the anti-consumer bill.

The Consumer Financial Protection Bureau requested feedback on ways to spur new mortgage products that streamline and automate loan refinancing.

Nacha released a new strategy for payments industry participants to address scams that deceive consumers into sending payments to fraudsters under false pretenses.

ICBA told House leaders it strongly opposes the Credit Card Competition Act of 2022 (H.R. 8874), controversial legislation to create new credit card routing mandates that expand on Durbin Amendment interchange restrictions.