NewsWatch Today

ICBA and other groups asked the Labor Department to extend by 60 days the comment period on its proposal to increase the number of employees who are entitled to overtime compensation.

With the Senate set to act as soon as this week on a resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule, ICBA is urging community bankers to urge their senators to support the measure.

The Federal Reserve has joined the FDIC and OCC in targeting how banks treat single items that are repeatedly rejected for insufficient funds.

With the Senate set to act as soon as this week on a resolution to block the Consumer Financial Protection Bureau’s Section 1071 rule, ICBA is urging community bankers to urge their senators to support the measure.

A key member of the House along with major airlines and transportation unions last week announced their opposition to legislation that would impose credit card routing restrictions, which ICBA continues urging community bankers to speak out against.

The Small Business Administration’s Office of Advocacy this week is hosting roundtable discussions on the Labor Department’s proposal to increase the number of employees who are entitled to overtime compensation. Banks with less than $850 million in assets—which are defined as small businesses by the SBA—are invited to join.

Federal Reserve Governor Michelle Bowman encouraged community bankers to provide feedback on agency rulemakings.

ICBA continues calling on community bankers to urge their senators to oppose legislation that would impose credit card routing restrictions amid renewed efforts to attach it to government funding measures.

The Consumer Financial Protection Bureau said it is beginning a rulemaking process to remove medical bills from Americans’ credit reports.

If the FDIC reopens its policies on bank mergers, it should consider competition from credit unions and other nonbank institutions that perform bank-like functions, FDIC Vice Chairman Travis Hill said.

Several consumer groups recently petitioned the Consumer Financial Protection Bureau for a rulemaking on pre-dispute arbitration.

The Consumer Financial Protection Bureau issued guidance about certain legal requirements that lenders must adhere to when using artificial intelligence and other complex models.