NewsWatch Today

After the Federal Reserve delayed the Fedwire Funds Service’s conversion to the ISO 20022 message format until July 14, a new ICBA blog post spotlights resources to help community banks prepare.

ICBA expressed support for a new congressional effort to invalidate the Consumer Financial Protection Bureau’s final rule on overdraft protection programs, saying it is a deeply flawed and harmful rule.

ICBA commended the Cybersecurity and Infrastructure Security Agency’s efforts to create a better framework for responding to significant cyber incidents, but said community banks need to be an integral part of a coordinated cyber defense plan.

Last week’s simultaneous congressional hearings featuring ICBA witnesses spotlighted the industry’s policy priorities while demonstrating that community banks are being heard in Washington, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed.

Community bankers interested in speaking during the next Economic Growth and Regulatory Paperwork Reduction Act regulatory review must register by today.

Revenue from romance scams—also known as “pig butchering”—grew 40% last year and accounted for more than a third of all crypto-related scams, according to a report by Chainalysis.

Last week’s simultaneous congressional hearings featuring ICBA witnesses spotlighted the industry’s policy priorities while demonstrating that community banks are being heard in Washington, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed.

ICBA said any change to the structure of the nation’s banking agencies must involve careful study and input from all stakeholders, including community banks.

Community bankers interested in speaking during the next Economic Growth and Regulatory Paperwork Reduction Act regulatory review must register by tomorrow, Feb. 14.

Acting Securities and Exchange Commission Chair Mark Uyeda said his agency will seek to freeze court proceedings in a legal challenge to its final rule requiring climate-related investor disclosures, citing his opposition to the rule.

ICBA told Congress that current stablecoin arrangements are not subject to comprehensive supervision and lack many critical consumer and anti-money laundering protections—a regulatory gap that allows risks to the financial system to multiply, provides opportunities for financial crimes, and creates an unequal playing field with highly regulated community banks.

Federal Reserve Chairman Jerome Powell said the U.S. will never have a central bank digital currency as long as he leads the Fed.