NewsWatch Today

The Consumer Financial Protection Bureau issued its annual report to Congress on debt collection, which focuses on medical debt and rental debt.

After the announcement of the 15th credit union acquisition of a community bank this year, ICBA said the acquisition trend shows credit unions have expanded beyond the limits established by Congress to justify their federal tax exemption.

ICBA told the Financial Crimes Enforcement Network that its proposed rule to update anti-money-laundering and countering-the-financing-of-terrorism programs would create additional burdens on banks without benefitting FinCEN’s efforts to reduce financial crimes.

ICBA said the Federal Reserve’s proposed expansion of Fedwire Funds Service and National Settlement Service hours to 22 hours per day, seven days a week would place significant burdens on community banks for what is likely to be a low volume of transactions.

ICBA’s campaign spotlighting credit union tax and regulatory inequities generated new coverage this week with a CNBC segment on acquisitions of community banks.

Supervision must adapt to the growth of the largest banks, Acting Comptroller of the Currency Michael Hsu said.

According to an FBI alert, teams of North Korean malicious cyber actors are targeting specific decentralized finance or cryptocurrency-related businesses with social engineering to gain unauthorized access to the companies’ networks to deploy malware and steal cryptocurrency.

Following a district court decision denying ICBA’s lawsuit challenging the Consumer Financial Protection Bureau’s 1071 small-business rule, ICBA is now appealing the ruling.

ICBA told the Consumer Financial Protection Bureau that its proposed interpretive rule on “earned wage access” products defines “debt” too broadly.

The FDIC issued the lists of institutions scheduled for a Community Reinvestment Act examination during the fourth quarter of 2024 and first quarter of 2025.

ICBA recognized National Preparedness Month in September by issuing tips to help Americans secure their financial documents before disaster strikes.

Federal banking regulators said they are sunsetting the Federal Financial Institutions Examination Council the Cybersecurity Assessment Tool on Aug. 31, 2025.