NewsWatch Today

ICBA and affiliated state community banking associations met this week with Treasury Department officials to discuss BSA/AML compliance, Corporate Transparency Act implementation, the impact of de-risking the financial system on financial inclusion, and other issues.

House Financial Services Committee Chairman Patrick McHenry (R-N.C.) announced the panel’s subcommittees, chairs, and jurisdiction for the 118th Congress.

The Consumer Financial Protection Bureau proposed a rule to establish a public registry of supervised nonbanks’ terms and conditions in “take it or leave it” form contracts.

The USDA’s Farm Service Agency expanded eligibility and enhanced available benefits for several programs that provide support following natural disasters.

Federal Reserve Governor Michelle Bowman said that while crypto-assets can pose significant risks to consumers and the financial system, regulators should avoid hindering innovation.

Federal Reserve Chair Jerome Powell said the Fed has narrow responsibilities regarding climate-related financial risks, while broader climate policies should be made by elected officials.

The Biden Administration’s Office of Information and Regulatory Affairs published the regulatory agencies’ fall 2022 rulemaking agenda.

The Consumer Financial Protection Bureau said its filing period for Home Mortgage Disclosure Act data collected in 2022 opened on Jan. 1. Submissions will be considered timely if received on or before Wednesday, March 1.

Fannie Mae and Freddie Mac are reminding lenders that they will require the Supplemental Consumer Information Form (Form 1103) for new conventional loans with application dates on or after March 1.

Federal banking regulators issued a statement highlighting key crypto risks for banking organizations and describing the agencies’ approaches to supervision in this area.

The Consumer Financial Protection Bureau’s latest penalty against Wells Fargo Bank reflects the unfortunate fact that the too-big-to-fail problem is alive and well, ICBA Chairman Brad Bolton wrote in an op-ed on LinkedIn.

The Consumer Financial Protection Bureau issued a final rule amending the official interpretations for Regulation Z, which implements the Truth in Lending Act, to update the dollar amounts of various thresholds that it must adjust annually.