NewsWatch Today

Another federal district court has ruled that the Consumer Financial Protection Bureau may not enforce its Section 1071 small-business rule until the Supreme Court rules on the constitutionality of the bureau’s funding structure.

ICBA and other groups expressed united opposition to efforts by Sens. Roger Marshall (R-Kan.) and Richard Durbin (D-Ill.) to attach their ICBA-opposed credit card routing bill to a must-pass appropriations bill.

The Senate Banking Committee said it would meet Sept. 27 to consider ICBA-advocated legislation to establish a safe harbor from federal sanctions for financial institutions that serve cannabis-related businesses in states where cannabis is legal.

The Consumer Financial Protection Bureau updated its frequently asked questions on its Section 1071 small-business rule.

Data show that consumers and small businesses value the symbiotic relationship between innovation and relationship banking that community banks offer, ICBA community bankers wrote in a new LinkedIn post.

With credit union executives in Washington this week for advocacy meetings, ICBA launched several campaigns to raise questions about credit union policies among lawmakers, ICBA President and CEO Rebeca Romero Rainey announced.

ICBA is calling on community bankers to voice strong opposition to renewed efforts by Sen. Roger Marshall (R-Kan.) to force Senate consideration of legislation to advance credit card routing restrictions.

ICBA reiterated to Congress its opposition to the creation of a U.S. central bank digital currency.

ICBA leadership community bankers and staff this week met with OCC officials on the agency’s supervisory approach to how banks treat single items that are repeatedly rejected for insufficient funds.

With Congress back in Washington following the August recess, ICBA continues its grassroots campaigns on key advocacy issues.

Securities and Exchange Commission Chair Gary Gensler told Congress that most crypto tokens and intermediaries are subject to U.S. securities laws despite the industry’s “wide-ranging noncompliance.”

The Financial Services Information Sharing and Analysis Center’s latest weekly risk summary covers an unknown threat actor exploiting vulnerabilities in the MinIO Object Storage system to remotely execute arbitrary code on vulnerable servers.