NewsWatch Today

ICBA continues calling on community bankers to urge their members of Congress to support a House resolution to nullify the Consumer Financial Protection Bureau’s Section 1071 rule to establish data collection and reporting standards for small-business loan applicants.

Both chambers of Congress are in session this week. The House Financial Services Committee has two hearings scheduled.

House Financial Services Committee Chairman Patrick McHenry (R-N.C.) and House Agriculture Committee Chairman Glenn "GT" Thompson (R-Pa.) released a discussion draft of legislation to establish a statutory framework for digital asset regulation.

Federal regulators requested public comment on a proposed rule designed to implement quality control standards for automated valuation models, or AVMs, used by mortgage originators and secondary market issuers in valuing real estate collateral securing mortgage loans.

Community banks reported a 6.1% first-quarter increase in net income from a year ago and a 4.2% decline from the previous quarter, according to the FDIC’s latest Quarterly Banking Profile.

With the House still planning to take up a resolution to nullify the Consumer Financial Protection Bureau’s Section 1071 data-collection rule, ICBA continues calling on community bankers to urge their members of Congress to support the measure.

The deadline to participate in the 2023 Crowe Financial Institutions Compensation and Benefits Survey has been extended to June 15.

ICBA called on a Bank for International Settlements panel to issue a second proposed framework on ISO 20022 harmonization requirements for enhancing cross-border payments.

A new blog post from ICBA Bancard President and CEO Tina Giorgio reviews the evolution of digital payments and lessons for the current conversation about instant payments.

The International Organization of Securities Commissions published a consultation report with its proposed policy recommendations for regulating crypto markets as securities.

Participating in the 2023 Crowe Financial Institutions Compensation and Benefits Survey is the first step to accessing bank compensation benchmarks and trends across 273 jobs.

FDIC research suggests that efforts to connect unbanked consumers to the banking system are having an effect, FDIC Chairman Martin Gruenberg said.