A Farm Credit System lender is suing a Tennessee distillery after the enterprise’s nonfarm commercial loan to the business has gone south, according to a local media report.
The Senate passed ICBA-advocated legislation restricting credit reporting agencies from selling consumers’ contact information when they apply for a residential mortgage.
A new article features growing concerns that the nation’s largest credit unions are increasingly behaving more like profit-driven banks with a tax advantage than mission-centric nonprofits.
The Federal Reserve announced it joined other banking agencies and the Financial Crimes Enforcement Network in permitting banks to obtain a Tax Identification Number from a third party rather than directly from customers.
Personal income and spending each increased 0.3% in June, the Commerce Department reported. From the same month one year ago, the PCE price index increased 2.6%.
ICBA published a new summary of the GENIUS Act for ICBA members and next week is scheduled to host a complimentary community bank briefing on the act and other digital asset policy developments.
The Consumer Financial Protection Bureau requested a stay in a lawsuit challenging the 1033 rule on consumer data security and privacy and said it plans to craft a new rule soon.
