Urgent congressional action is needed to preserve community banks and the communities that depend on them, ICBA President and CEO Rebeca Romero Rainey said.
The Internal Revenue Service announced it has formed a coalition with state tax agencies and the tax industry to combat the growth of scams and schemes threatening taxpayers and tax systems.
Republican members of the House Financial Services Committee said the Consumer Financial Protection Bureau’s proposal to remove medical debt from credit reports will make health care more expensive for those who need it most.
Small-business owners doing their best to comply with beneficial ownership requirements should not lose sleep over the new reporting requirements, Financial Crimes Enforcement Network Deputy Director Jimmy Kirby said.
Credit unions use their tax-exempt status to weaken community banks and their capacity to meet the credit needs of local communities, according to a former credit union executive who now works for a community bank.
Banks moving to an instant payment environment need a strategy that considers fraud, liquidity, compliance, and third-party risks, according to a blog post from the Federal Reserve.
Republican members of the House Financial Services Committee called on FDIC Chairman Martin Gruenberg to appear before the committee next month if he has not stepped down before then.
