NewsWatch Today

The U.S. banking system is well-positioned to bring consumers into the financial mainstream by providing innovative solutions to meet their credit needs, Federal Reserve Governor Michelle Bowman said.

Credit unions have a much easier time with exams, according to a report by the National Credit Union Administration’s inspector general.

The Financial Crimes Enforcement Network updated its beneficial ownership information frequently asked questions to include responses to questions about entities that have ceased to exist.

The Treasury Department proposed a rule to add military installations across 30 states to its jurisdiction over transactions by foreign persons in the U.S., following President Joe Biden’s ban of a Chinese cryptocurrency mining facility within a mile of Francis E. Warren Air Force Base.

As new technologies and solutions ebb and flow, change-management strategies are critical to ensure community bank success, according to the latest Independent Banker.

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.