NewsWatch Today

The Small Business Administration ordered the banks in its network to halt the practice of debanking certain individuals and businesses and to submit reports to the agency on their compliance with President Donald Trump’s executive order on fair banking.

A new op-ed from ICBA leadership community banker Ken Hale says lawmakers must investigate whether credit unions’ tax-exempt status is still necessary in light of their significant growth, which is leaching revenue from state and local governments and setting the stage for higher taxes on local communities.

Community banks reported a 12.5% second-quarter increase in net income from the previous quarter and a 22.9% increase from the previous year, according to the FDIC’s latest Quarterly Banking Profile.

ICBA opposed the federal banking regulators’ proposal to modify the enhanced supplementary leverage ratio standard that applies to the largest banking organizations.

The Consumer Financial Protection Bureau proposed adopting a standard that says it can supervise nonbanks if it determines that the nonbank’s products or services pose a risk to consumers.

A new op-ed says credit unions should not be designated as community development financial institutions due to their tax exemption.

The Community Bankers of Michigan called on state lawmakers to subject credit unions to sound regulations such as the Community Reinvestment Act.

Deputy Treasury Secretary Michael Faulkender is leaving the Treasury Department, according to media reports.

The Consumer Financial Protection Bureau released an advance notice of proposed rulemaking to collect information on how it should implement Section 1033 standards on sharing consumer financial data, and ICBA urged the agency to focus its rulemaking on including needed protections for community banks and their customers.

ICBA said it supported four pieces of legislation aimed at strengthening community development financial institutions that are being considered as an amendment to the National Defense Authorization Act.

ICBA next month is hosting three Let’s Chat sessions on how community banks are using ICBA’s talent development solutions to support leadership succession, employee retention, and team growth.

Senior ICBA staff and ICBA’s De Novo Working Group met with FDIC Acting Chairman Travis Hill to discuss regulatory challenges that de novo banks face.