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ICBA: CFPB’s 1071 rule exceeds its authority

Dec 5, 2024 | NewsWatch Today
The Consumer Financial Protection Bureau’s 1071 small-business rule exceeds the agency’s statutory authority and is arbitrary and capricious, ICBA said in a new court filing.

Treasury sanctions money laundering network using digital assets

Dec 5, 2024 | NewsWatch Today
The Treasury Department sanctioned five individuals and four entities associated with the TGR Group, an international network of businesses and employees that act on behalf of Russian elites.

Agencies issue statement on financial exploitation of elderly

Dec 5, 2024 | NewsWatch Today
Five federal financial regulatory agencies, the Financial Crimes Enforcement Network, and state financial regulators issued a joint statement to provide supervised institutions with examples of risk management and other practices that may be effective in combatting elder financial exploitation.

OCC updates unfair practices booklet

Dec 4, 2024 | NewsWatch Today
The OCC issued version 1.1 of the “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices” booklet of the Comptroller’s Handbook.

Agencies seek further comment on regulatory burden

Dec 4, 2024 | NewsWatch Today
The federal bank regulatory agencies announced the third notice requesting comment to reduce regulatory burden as required by the Economic Growth and Regulatory Paperwork Reduction Act of 1996.

CFPB proposes rule on consumer reporting

Dec 4, 2024 | NewsWatch Today
The Consumer Financial Protection Bureau issued a notice of proposed rulemaking related to consumer reporting and the requirements of the Fair Credit Reporting Act.

Regulators hosting fair lending webinar today

Dec 4, 2024 | NewsWatch Today
Federal regulators are slated to host an interagency webinar on fair lending at 2 p.m. (Eastern time) today. The webinar will cover redlining, Community Reinvestment Act rules, the relationship between CRA and fair lending, and more.

Independent Banker honors best community banks to work for

Dec 3, 2024 | NewsWatch Today
This month’s Independent Banker magazine recognizes the best community banks to work for, selected by the input of full-time employees.

FDIC updates Q&As on official signage

Dec 3, 2024 | NewsWatch Today
The FDIC updated questions and answers related to its final rule governing the usage of official FDIC signs, advertising, name, logo, and more.

Fed’s Waller expects rate cuts to continue over next year

Dec 3, 2024 | NewsWatch Today
Monetary policy is still restrictive and putting downward pressure on inflation without creating undesirable weakness in the labor market, according to Federal Reserve Governor Christopher Waller, who added that he expects rate cuts to continue over the next year.

ICBA op-ed: Megabanks aren't—and never will be—community banks

Dec 2, 2024 | NewsWatch Today
While some industry watchers might apply the term “community bank” to the nation's largest financial institution, the truth is community banks cannot be replicated by megabanks, ICBA Chairman Lucas White wrote in a new American Banker op-ed (subscription required).

OCC announces 2025 fees and assessments

Dec 2, 2024 | NewsWatch Today
The OCC announced its fees and assessments for calendar year 2025.