NewsWatch Today

Following the latest acquisition of a community bank by a tax-exempt credit union, ICBA said the deal demonstrates why the growing skepticism of credit union tax and regulatory exemptions must evolve into policymaker action.

The OCC announced a decrease in assessment rates for the Sept. 30 semiannual assessment that will apply to all OCC-regulated institutions—its fifth decrease in assessments since 2017.

ICBA urged Congress to reduce duplicative Gramm-Leach-Bliley Act requirements for community banks while modernizing the law to ensure nonbank entities are subject to equivalent consumer data privacy standards.

ICBA continues calling on community bankers to use its grassroots guide to submit comment letters on an ICBA-supported interagency request for information on mitigating payments fraud.

The Financial Crimes Enforcement Network issued warnings on the threats posed by Chinese money laundering networks to the U.S. financial system.

ICBA released the Guide to Local Influencer Marketing for Community Banks, which provides community bankers with step-by-step guidance and tools to successfully reach and attract the next generation of customers through trusted local voices.

The Small Business Administration ordered the banks in its network to halt the practice of debanking certain individuals and businesses and to submit reports to the agency on their compliance with President Donald Trump’s executive order on fair banking.

A new op-ed from ICBA leadership community banker Ken Hale says lawmakers must investigate whether credit unions’ tax-exempt status is still necessary in light of their significant growth, which is leaching revenue from state and local governments and setting the stage for higher taxes on local communities.

Community banks reported a 12.5% second-quarter increase in net income from the previous quarter and a 22.9% increase from the previous year, according to the FDIC’s latest Quarterly Banking Profile.

ICBA opposed the federal banking regulators’ proposal to modify the enhanced supplementary leverage ratio standard that applies to the largest banking organizations.

The Consumer Financial Protection Bureau proposed adopting a standard that says it can supervise nonbanks if it determines that the nonbank’s products or services pose a risk to consumers.

A new op-ed says credit unions should not be designated as community development financial institutions due to their tax exemption.