NewsWatch Today

ICBA told the federal banking agencies that their proposals to update anti-money-laundering and countering-the-financing-of-terrorism programs would create additional burdens on banks without any demonstrable benefit to combatting money laundering or terror financing.

The Justice Department announced that Citadel Federal Credit Union has agreed to pay more than $6.5 million to resolve allegations that it engaged in lending discrimination by redlining predominantly Black and Hispanic neighborhoods in and around Philadelphia.

Following the 18th credit union acquisition of a community bank this year—and the fifth in Washington state—ICBA said Congress should address antiquated credit union policies.

The ICBA Foundation Disaster Relief Program continues requesting tax-deductible donations to assist community banks and employees affected by Hurricane Helene.

Federal Reserve Vice Chair Philip Jefferson encouraged comments on the Fed’s request for information on “operational frictions” associated with the discount window and intraday credit.

Generative artificial intelligence could help community banks identify potentially fraudulent activity and security flaws, according to the latest Independent Banker magazine.

The FDIC extended the comment period on its proposed rule on brokered deposits from Oct. 22 to Nov. 21.

The FDIC extended until Dec. 6 the comment period on its request for information on deposits, as advocated by ICBA.

ICBA is encouraging community bankers to spread the word about the Payments Innovation Alliance’s Payment Video Challenge to raise awareness of financial scams.

ICBA expressed support for a Bureau of the Fiscal Service proposal to adopt the 2022, 2023, and 2024 amendments to the Nacha rules.

The OCC issued a proclamation allowing national banks, federal savings associations, and federal branches to close offices in areas of Florida affected by Hurricane Milton.

Core conversions can be challenging for community banks but there are ways to make the process painless, according to the latest Independent Banker magazine.