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ICBA requests extension for comments on FDIC’s proposal on custodial accounts

Oct 21, 2024 | NewsWatch Today
ICBA and other groups asked for a 60-day extension to the comment period for the FDIC’s Notice of Proposed Rulemaking on Recordkeeping for Custodial Accounts, which would establish new recordkeeping requirements for “custodial deposit accounts with transactional features” at insured depository institutions.

Fed’s Waller: DeFi’s tech innovations could improve centralized finance

Oct 21, 2024 | NewsWatch Today
Federal Reserve Governor Christopher Waller said the technological innovations stemming from decentralized finance are largely complementary to centralized finance and can help improve it.

FinCEN: Certain telecommunications service providers are exempt from beneficial ownership requirements

Oct 18, 2024 | NewsWatch Today
The Financial Crimes Enforcement Network issued a final rule to clarify that certain telecommunications service providers qualify as “regulated public utilities” and are exempt from the Corporate Transparency Act’s beneficial ownership information reporting requirements. The final rule is effective immediately upon publication in the Federal Register.

FDIC says DIF goal is ahead of schedule

Oct 18, 2024 | NewsWatch Today
The FDIC said the reserve ratio for the Deposit Insurance Fund remains on track to reach the statutory minimum of 1.35% as early as 2026, and ahead of the Amended Restoration Plan deadline of Sept. 30, 2028.

FDIC extends compliance date for some signage rules

Oct 18, 2024 | NewsWatch Today
The FDIC announced that it is extending the compliance date for the new signage and advertising rule from Jan. 1, 2025, to May 1, 2025.

Report: Stablecoins do not act as safe havens during crypto market stress

Oct 18, 2024 | NewsWatch Today
Stablecoins do not act as “safe havens” during crypto market stress, but their market capitalization drops after significant shocks, according to a Bank for International Settlements working paper.

ThinkTECH Solutions Forum on data today

Oct 17, 2024 | NewsWatch Today
ICBA’s ThinkTECH Solutions Forum: Data is scheduled for noon (Eastern time) today. Community bankers can attend live or get the recording. Registration is free for ICBA members.

ICBA updates advocacy dashboard

Oct 17, 2024 | NewsWatch Today
ICBA updated its “Advocacy in Action” government relations dashboard for the fourth quarter with the latest community banking advocacy successes and priorities.

ICBA: FHFA guidance on FHLBank liquidity won’t work

Oct 17, 2024 | NewsWatch Today
ICBA and state community banking associations told the Federal Housing Finance Agency that its recent Advisory Bulletin to the FHLBanks regarding credit risk management expectations for member institutions lacked both clarity and statutory authority.

Independent Banker: ICBA continues amplifying concerns in stablecoin debate

Oct 16, 2024 | NewsWatch Today
As lawmakers continue to debate a regulatory framework for stablecoins, the latest Independent Banker magazine highlights how ICBA remains engaged to ensure that policymakers address the concerns of community banks.

Agencies issue joint statement on institutions affected by Hurricane Milton

Oct 16, 2024 | NewsWatch Today
Federal and state financial regulators issued a joint statement saying they recognize the serious impact of Hurricane Milton on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.

Agencies adjust HPML, Reg Z, and Reg M exemption thresholds

Oct 16, 2024 | NewsWatch Today
The agencies issued three annual threshold adjustment final rules, effective Jan. 1.