NewsWatch Today

ICBA and other groups urged Congress to reauthorize the Cybersecurity Information Sharing Act (CISA 2015) before it expires on Sept. 30, warning that failure to act could eliminate a valuable tool used to protect U.S. critical infrastructure sectors.

The Financial Crimes Enforcement Network announced an interim final rule that removes the requirement for U.S. companies and persons to report beneficial ownership information under the Corporate Transparency Act. FinCEN said that foreign entities must still report their BOI under the new deadlines.

A bipartisan group of 23 senators led by CDFI Caucus Co-chairs Mark Warner (D-Va.) and Mike Crapo (R-Idaho) reaffirmed their support for the Community Development Financial Institutions Fund following a recent executive order from the White House.

The OCC announced that it will no longer examine its regulated institutions for reputation risk and is removing references to reputation risk from its Comptroller’s Handbook booklets and guides.

The Federal Housing Finance Agency's Credit Score Models and Reports Initiative is overly complex, costly to consumers, and missing key requirements for a successful transition, ICBA and other groups said in a letter outlining recommendations.

ICBA and other groups expressed strong support for the Community Development Financial Institutions Fund in a letter to the bipartisan Senate Community Development Finance Caucus.

The Federal Open Market Committee voted to maintain target interest rates at a range of 4.25% to 4.5%.

Saying that new technologies are important tools for community banks to meet customer demand, increase revenue, improve efficiencies, and remain competitive, the OCC announced a new webpage with dedicated resources to help community banks meet their digitalization objectives.

The latest Independent Banker magazine spotlights what community bankers need to know about the Fedwire Funds Service’s conversion to the ISO 20022 message format.

Following President Donald Trump’s executive order directing the Treasury Department to eliminate the non-statutory components of the Community Development Financial Institutions Fund, ICBA highlighted the critical role that CDFI community banks play in local economies.

With Congress working to advance ICBA-advocated legislation to support rural lending and to overturn the Consumer Financial Protection Bureau’s overdraft rule, ICBA is urging community bankers to contact their members of Congress on these measures.

ICBA expressed its strong support for President Donald Trump’s nomination of Federal Reserve Governor Michelle Bowman for vice chair for supervision at the Fed—as advocated by ICBA.