NewsWatch Today

ICBA expressed support for provisions of legislation designed to improve consumer privacy and data security accountability for more entities that handle consumer data.

The Electronic Payments Coalition released new polling conducted by Morning Consult indicating that consumers across all income levels are benefiting from credit card rewards to help make ends meet during uncertain economic times.

The OCC issued the “Branch Closings” booklet of the Comptroller’s Licensing Manual. The revised booklet replaces the booklet of the same title issued June 2017, makes corrections where necessary, and contains updated guidance.

The Consumer Financial Protection Bureau issued an advisory opinion to prevent digital mortgage comparison-shopping platforms from illegally referring borrowers to only lenders paying referral fees.

The FDIC issued a Financial Institution Letter on changes to the loan-origination threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans following a recent court decision. The OCC previously issued a similar bulletin.

ICBA’s push for policymakers to rein in the crypto industry as part of its agenda for the 118th Congress made headlines in Politico.

The Securities and Exchange Commission is considering “softening” its ICBA-opposed proposed rule to institute climate-related investor disclosures, according to The Wall Street Journal.

The House and Senate’s banking committees this week are scheduled to host their first hearings of the 118th Congress.

ICBA called on the Department of Housing and Urban Development to clarify lender obligations under draft guidance on borrower requests for Reconsideration of Value, or ROV, of appraised properties for Federal Housing Administration single-family loans.

The Treasury Department’s Bureau of the Fiscal Service issued a proposed rule to amend its regulations governing the payment of checks drawn on the U.S. Treasury.

ICBA raised concerns with a new Consumer Financial Protection Bureau proposed rule on credit card late fees and the bureau’s mischaracterizations of community bank credit card lending.

The Federal Open Market Committee raised the federal funds rate target by 25 basis points to a range of 4.5% to 4.75%.