NewsWatch Today

Though consumers have embraced ACH and wire transfers as essential ways to pay and move money, digital tools, such as Apple Pay and Google Pay wallets, Venmo and Cash App, and other digital convenience offerings have increasingly become popular payment methods for consumers due to their convenience and speed.

Uber’s former chief security officer was convicted of failing to disclose a 2016 data breach in the first criminal prosecution of an executive related to the handling of a breach.

ICBA issued a comment letter expressing support for an agency effort to provide clearer guidance on prudent commercial real estate loan accommodations and workouts while suggesting improvements to the proposal.

With lawmakers working to include ICBA-opposed credit card legislation in a must-pass defense bill, ICBA is urging community bankers to continue the grassroots campaign against the interchange measure.

With Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan.) working to include their ICBA-opposed credit card legislation in a must-pass defense bill, ICBA is urging community bankers to continue the grassroots campaign against the interchange measure.

ICBA is seeking submissions from volunteers to serve on a new Digital Assets Task Force to examine and deliberate issues related to central bank digital currency and digital assets, such as stablecoins.

Community banks have successfully employed strategies for managing climate-related financial risk, though the prevalence of risk will increase with climate change, FDIC Acting Chairman Martin Gruenberg said.

The Financial Crimes Enforcement Network issued a final rule establishing a beneficial ownership information reporting requirement.

With Hurricane Ian making landfall in Florida as a Category 4 hurricane, ICBA offers updates on its Hurricane Preparedness resource center.

FDIC Acting Chairman Martin Gruenberg reiterated his recent remarks that community banks have an outsized role in lending during times of distress and providing equitable access to financial services.

Federal Reserve Governor Michelle Bowman said the increase in credit union acquisitions of taxpaying community banks indicates regulators should rethink how they evaluate bank mergers.

ICBA updated its Hurricane Preparedness resource center with the latest on Hurricane Ian. With Ian on pace to make landfall with the west coast of Florida early Friday, the page offers community bankers tools to help weather the storm.