NewsWatch Today

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.

The Federal Open Market Committee raised the federal funds rate target by another 75 basis points and released updated projections reflecting the impact of its campaign against inflation.

The Treasury Department announced that it has made over $8.28 billion of investments in 162 community financial institutions across the country through the Emergency Capital Investment Program.

The Treasury Department is still working out the details of a Treasury-led interagency work group on considering the adoption of a U.S. central bank digital currency, Treasury Undersecretary Nellie Liang said.

Following the Biden administration’s release of reports on digital assets policy, ICBA released new polling conducted by Morning Consult indicating consumers support a regulatory framework for digital assets and are skeptical of the creation of a U.S. central bank digital currency.

ICBA-opposed legislation to create new credit card routing mandates that expand on Durbin Amendment payments interventions would dramatically affect credit card rewards programs, according to a new report from The Points Guy.