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Basel Committee releases final crypto framework with ICBA-backed exclusion

Jul 18, 2024 | NewsWatch Today
The Basel Committee on Banking Supervision published targeted amendments to its cryptoasset standard to tighten the criteria for certain stablecoins to receive a preferential regulatory treatment, which included an exclusion that ICBA strongly backed.

Agencies issue final rule on automated valuation models

Jul 18, 2024 | NewsWatch Today
Federal financial services regulators formally issued a final rule to implement quality control standards for automated valuation models, or AVMs, which mortgage lenders use to value real estate collateral.

ICBA: New FHLBank lending restrictions will reduce access to home loans

Jul 17, 2024 | NewsWatch Today
A recent Federal Home Loan Bank of New York decision to impose new reporting requirements on member banks will restrict access to home loans, ICBA said.

ICBA continues seeking feedback on check fraud

Jul 17, 2024 | NewsWatch Today
ICBA continues encouraging community bankers to share their experiences and input on the challenge of check fraud.

IRS reports problems with crypto tax enforcement

Jul 17, 2024 | NewsWatch Today
Digital asset seizure values have grown exponentially, topping $7 billion in 2022, but compliance enforcement with virtual currency is difficult, according to a new Treasury Department report.

ICBA: FHLBanks’ mission should not be changed

Jul 16, 2024 | NewsWatch Today
ICBA told the Federal Housing Finance Agency that the Federal Home Loan Banks’ mission is clear and does not need to be substantially changed or clarified.

FinCEN official: Beneficial ownership reporting only takes 20 minutes to complete

Jul 16, 2024 | NewsWatch Today
Financial Crimes Enforcement Network Deputy Director Jimmy Kirby said most companies should be able to file beneficial ownership information reporting quickly and without the help of an attorney or accountant.

FDIC holding second signage webinar for bank officers

Jul 16, 2024 | NewsWatch Today
The FDIC this month is scheduled to hold the second of four webinars for bank officers and employees on its final rule governing the usage of official FDIC signs, advertising, name, logo, and more.

Comments on FHLBank system mission review due today

Jul 15, 2024 | NewsWatch Today
Today is the deadline for community bankers and others to submit comments on the Federal Housing Finance Agency’s request for input on the mission of the Federal Home Loan Bank System.

Fed researchers: Banks that share name with failed institutions experience loss of business

Jul 15, 2024 | NewsWatch Today
Federal Reserve researchers said banks that share their name with a failed bank experience a half-percent drop in transaction deposits relative to banks with similar characteristics but different names.

AT&T discloses customer data breach

Jul 15, 2024 | NewsWatch Today
AT&T released a statement on unauthorized access of customer data from a third-party cloud platform.

FDIC nominee: Community banks are the lifeblood of many communities

Jul 12, 2024 | NewsWatch Today
The Biden administration’s nominee for FDIC chair—Christy Goldsmith Romero—told Congress she gained a great appreciation for community banks during her time at the Office of the Special Inspector General for the Troubled Asset Relief Program.