NewsWatch Today

The Federal Reserve announced it joined other banking agencies and the Financial Crimes Enforcement Network in permitting banks to obtain a Tax Identification Number from a third party rather than directly from customers.

Personal income and spending each increased 0.3% in June, the Commerce Department reported. From the same month one year ago, the PCE price index increased 2.6%.

ICBA said it strongly opposes Circle’s application for a national trust bank charter for its proposed subsidiary, First National Currency Bank, N.A.

President Donald Trump’s Working Group on Digital Asset Markets released recommendations for digital financial technology.

ICBA published a new summary of the GENIUS Act for ICBA members and next week is scheduled to host a complimentary community bank briefing on the act and other digital asset policy developments.

ICBA is scheduled to host a complimentary community bank briefing on the GENIUS Act at 1 p.m. (Eastern time) next Thursday, Aug. 7.

The Consumer Financial Protection Bureau requested a stay in a lawsuit challenging the 1033 rule on consumer data security and privacy and said it plans to craft a new rule soon.

ICBA urged the Federal Reserve to provide regulatory relief on the Debit Card Issuer Interchange survey, which is used to implement Regulation II debit card interchange standards.

ICBA urged the FDIC to reject Nissan’s deposit insurance application for its proposed industrial loan company, Nissan Bank.

ICBA expressed strong support for the Preventing Regulatory Overreach to Empower Communities to Thrive and Ensure Data privacy (PROTECTED) Act (S. 2352), which would mitigate the adverse impact of the CFPB’s rule under Dodd-Frank Section 1071 on America’s small businesses and community banks.

ICBA and other groups issued a statement correcting the record on the Consumer Financial Protection Bureau’s Section 1033 rulemaking following misleading claims from a group of fintech and retail organizations.

The latest Independent Banker magazine offers tips for community banks that are developing policies on artificial intelligence.