The Senate passed the $1.5 trillion omnibus to fund the government through Sept. 30 with ICBA-advocated provisions related to the SBA’s 504 loan program, LIBOR, and cyber incident reporting.
The Financial Action Task Force—a global anti-money-laundering watchdog—updated its statements concerning jurisdictions with strategic AML, terrorist-financing, and weapons-proliferation deficiencies.
ICBA is running a targeted digital campaign encouraging congressional offices to press credit unions on acquisitions of community banks and other key issues.
ICBA expressed support for Senate legislation to promote tiered banking regulation by requiring agencies to tailor regulatory actions based on the risk profile and business model of affected institutions.
The Treasury and State departments announced additional sanctions on Russian individuals and companies for supporting the Russian government despite existing sanctions.
The Financial Crimes Enforcement Network is working to issue proposed rules on beneficial ownership information access and disclosure requirements, FinCEN Deputy Director AnnaLou Tirol said.
The Consumer Financial Protection Bureau released a fact sheet on the interest rate used to calculate prepaid interest for qualified mortgages under the price-based General QM definition.
The Consumer Financial Protection Bureau released an outline of options to strengthen oversight of computer models used to help determine home valuations.
