Washington, D.C. (Aug. 29, 2019)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Federal Financial Institutions Examination Council's announcement on cybersecurity preparedness. “ICBA welcomes the Federal Financial Institutions Examination Council's announcement emphasizing the…
Federal financial regulators emphasized the benefits of using a standardized approach to assess and improve cybersecurity preparedness, without mandating any particular assessment—advancing a long-standing ICBA and community bank priority. In a joint announcement, the Federal Financial Institutions Examination Council members…
ICBA and other financial trade groups called on members of Congress to finalize a pending defense bill with language promoting parity between banks and credit unions on military bases. In a joint letter to Senate and House Armed Services committee leaders, the…
ICBA and other financial services organizations sent letters to key members of Congress reminding them about the success of direct deposit for the U.S. workforce. Recent news coverage of the Fed's plan to build an instant payments system has included incorrect statements…
Academic scholarship on the Credit Card Accountability Responsibility and Disclosure Act of 2009 suggests it has had a mixed effect on consumer welfare with unintended consequences, the Consumer Financial Protection Bureau said. In its fourth biennial report on the state of the…
The Consumer Financial Protection Bureau announced a settlement with Maxitransfers Corp. in the first enforcement action based on violations of the Remittance Transfer Rule, which implements the Electronic Fund Transfer Act. According to the consent order, the CFPB found that Maxi violated…
Washington, D.C., (Aug. 27, 2019) – The Independent Community Bankers of America® (ICBA) today announced a capital investment in Teslar Software by 3E, which provides automated workflow and portfolio management tools. ICBA’s investment brings the company’s total seed capital raised to…
Fitting trade-policy uncertainty into the Federal Reserve’s monetary policy framework is a new challenge for the agency, Fed Chairman Jerome Powell said. Speaking from the economic policy summit in Jackson Hole, Wyo., Powell said there are no recent precedents to guide…
ICBA told Nacha it supports the creation of a registry that would allow financial institutions to more easily connect with each other about ACH operations, exceptions and risk management. In comments submitted via Nacha’s online portal, ICBA said this contact…
The underground sale of more than 5.3 million cardholder accounts is tied to a recent breach at the Hy-Vee grocery chain, according to the Krebs on Security blog. Hy-Vee recently announced a security incident involving payment processing systems for its fuel pumps, drive-thru coffee…