NewsWatch Today

Fraudsters are increasingly using information gained from public record searches on recorded mortgages to create checks drawn on home equity lines of credit, ICBA told community bankers.

Republican members of the Senate Banking Committee called on the FDIC to withdraw proposed corporate governance guidelines, citing their impact on community banks that serve small and rural communities.

The Federal Open Market Committee voted to keep interest rates unchanged until it has gained greater confidence that inflation is moving sustainably toward the Federal Reserve’s 2% goal.

The FDIC board of directors advanced a proposed rule to enhance the agency’s framework to supervise industrial loan companies.

During an ambitious board meeting on Tuesday, the FDIC issued a proposed rule to revise regulations on brokered deposits following the recent failure of the nonbank deposit broker Synapse Financial.

The FDIC board of directors approved a request for information on deposit data that is not currently reported in the call report or other regulatory reports, including for uninsured deposits.

The Financial Crimes Enforcement Network issued a notice to customers of financial institutions about reporting beneficial ownership information, or BOI.

The Government Accountability Office said scams are a significant and growing problem for U.S. individuals and businesses, noting that scams involving fake investment opportunities rose from $3.31 billion in 2022 to $4.57 billion in 2023.

ICBA is encouraging community bankers to register for regulators’ upcoming virtual meeting on federal banking regulations.

ICBA continues calling on community bankers to urge their senators to include in must-pass legislation a bipartisan bill that would protect the financial privacy of mortgage applicants.

ICBA commended the federal banking regulators for heeding ICBA’s calls to hold a virtual public outreach meeting as part of the latest regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act.

ICBA this week hosted its latest ThinkTECH Accelerator Showcase spotlighting growth-stage companies that serve or wish to serve community banks and their customers.