NewsWatch Today

The Federal Reserve does not plan to reduce target interest rates until inflation comes down more, according to its latest Monetary Policy Report to Congress.

Senate hearing this week on FDIC chair nomination

Nominations for Independent Banker magazine’s 2024 Best Community Banks to Work For awards are due today. Eligible community banks must submit nominations by 11:59 p.m. (Eastern time).

ICBA called on the Cybersecurity and Infrastructure Security Agency to exempt community banks from new cyber reporting rules.

The Basel Committee on Banking Supervision announced that it has reviewed the comments on its proposed crypto asset exposure disclosure and amendments to its standard on banks’ exposure to crypto assets.

The Financial Crimes Enforcement Network underestimates the amount of time and resources community banks dedicate to reporting suspicious activity, ICBA told the agency.

The Cybersecurity and Infrastructure Security Agency added the Cisco NX-OS Command Injection Vulnerability to its Known Exploited Vulnerabilities Catalog.

The Consumer Financial Protection Bureau said that its recent examinations revealed unfair, deceptive, or abusive acts at companies servicing auto loan and student loans; Fair Debt Collection Practices Act violations by debt collectors; and issues with medical payment products.

This month’s Independent Banker magazine recognizes the top lenders of 2024, the top community bank loan producers based on 2023 FDIC data.

Large credit unions are using the savings from their federal tax exemption to acquire taxpaying community banks at an alarming rate, Mississippi Bankers Association President and CEO Gordon Fellows writes in a new op-ed.

The Consumer Financial Protection Bureau and Federal Housing Finance Agency published updated loan-level data collected through the National Survey of Mortgage Originations.

Federal Reserve Governor Michelle Bowman raised concerns with credit union acquisitions of banks, noting the tax-exempt financial firms are exempt from the Community Reinvestment Act.