NewsWatch Today

Allowing large corporations to form industrial loan companies would magnify risks in the financial system and could ultimately give big tech firms access to information about every aspect of a consumer’s life, according to a new Washington Post article (subscription required).

Incoming ICBA Chairman Jack Hopkins plans to advocate for the industry to Congress and the public and bring a small‑town sensibility to Washington, according to the latest Independent Banker magazine.

House Majority Whip Tom Emmer (R-Minn.) reintroduced ICBA-advocated legislation restricting the ability of the federal government to introduce a central bank digital currency. A similar bill passed the House during the last Congress.

ICBA is urging community bankers to use its Be Heard Grassroots Action Center to submit comments on the latest round of the current Economic Growth and Regulatory Paperwork Reduction Act review before tomorrow’s deadline.

ICBA applauded Treasury Secretary Scott Bessent for his remarks supporting community banks and committing to the continued independence of the nation’s prudential banking regulators and dual banking system.

ICBA thanked the sponsors of the Senate and House versions of the Access to Credit for our Rural Economy (ACRE) Act, expressing strong support for the bipartisan legislation.

ICBA is urging community bankers to use its Be Heard Grassroots Action Center to submit comments on the latest round of the current Economic Growth and Regulatory Paperwork Reduction Act review.

The House Financial Services Committee voted 30-19 to pass H.J. Res 59, a Congressional Review Act resolution that would overturn a Consumer Financial Protection Bureau rule that regulates overdraft fees.

ICBA and 44 state banking associations sent letters to senators and representatives asking them to sponsor the bipartisan Access to Credit for our Rural Economy (ACRE) Act (S. 838 and H.R. 1822).

The ICBA Foundation, in coordination with the California Community Banking Network, raised a total of $68,000 to be donated to the United Way of Greater Los Angeles Wildfire Response Fund. The total includes a $10,000 contribution from ICBA.

ICBA is calling on community bankers to urge their members of Congress to support resolutions to stop the Consumer Financial Protection Bureau’s overdraft rule ahead of a markup today.

ICBA expressed strong support for the newly introduced Access to Credit for our Rural Economy (ACRE) Act to support farmers, ranchers, and rural homeowners.