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ICBA Welcomes Standardized Approach to Cyber Preparedness

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…

ICBA Invests in ThinkTECH Accelerator Alumni Teslar Software

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…

ICBA Opposes Rakuten ILC Application

Industrial loan company charter endangers consumers Washington, D.C. (Aug. 21, 2019)—The Independent Community Bankers of America® (ICBA) today called on the Federal Deposit Insurance Corp. to deny Rakuten Bank America’s federal deposit insurance application and impose an immediate moratorium on…

ICBA and PMA Funding Extend Preferred Service Provider Agreement

Washington, D.C. (Aug. 20, 2019)—The Independent Community Bankers of America® (ICBA) today announced it has extended its ICBA Preferred Service Provider agreement with PMA Funding (PMA), continuing a long relationship that provides community banks with a valuable service to manage…

ICBA and The Venture Center Announce ThinkTECH Accelerator 2.0

Inaugural partnership’s success leads to additional Accelerator program, with ICBA and The Venture Center calling for entries from early-stage and startup fintech companies Washington, D.C (Aug. 12, 2019)—The Independent Community Bankers of America® (ICBA) today announced plans for a second…

Idaho Bankers Association Endorses ICBA Bancard

Washington, D.C. (Aug. 8, 2019)—ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America® (ICBA), has been endorsed by the Idaho Bankers Association (IBA). This marks the 39th state banking association to give its seal of approval…

ICBA Honors National Community Bank Service Award Recipients

Washington, D.C. (Aug. 8, 2019)—The Independent Community Bankers of America® (ICBA) today announced winners of its 2019 National Community Bank Service Awards, which celebrate the outstanding and innovative volunteer efforts of the nation’s community banks. Whether responding to natural disasters,…

Main Street Victory: ICBA Applauds Fed on Real-Time Payments Decision

Fed System Will Ensure Broad Access and Stop Megabank Monopoly Washington, D.C. (Aug. 5, 2019)—The Independent Community Bankers of America® (ICBA) today applauded the Federal Reserve for its decision to develop a real-time payments system—a longtime ICBA priority. The Fed…

ICBA Statement on Rakuten ILC Application

Washington, D.C. (July 29, 2019)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on Rakuten’s application for an industrial loan company charter. “ICBA and the nation’s community banks oppose Rakuten’s application to become…

ICBA Renews Agreement with Ncontracts

Vendor Management Solutions Mitigate Risk for Community Banks Washington, D.C. (July 18, 2019)—The Independent Community Bankers of America® (ICBA) today announced it has extended its Preferred Service Provider relationship with Ncontracts to continue providing high-demand, automated vendor management to community…

ICBA Urges Caution on Facebook’s Libra Proposal

Washington, D.C. (July 16, 2019)—The Independent Community Bankers of America® (ICBA) called on policymakers to be extremely cautious about allowing Facebook to proceed with its proposed Libra digital currency. In a letter ahead of Tuesday’s Senate Banking Committee hearing, ICBA…

ICBA Securities Appoints New Community Bank Board Members

Washington, D.C. (July 12, 2019)—ICBA Securities Inc.®, the broker-dealer subsidiary of the Independent Community Bankers of America® (ICBA), today announced the appointments of ICBA Vice Chairman Bob Fisher, president and CEO, Tioga State Bank, Spencer, N.Y., and Jack Hopkins, president…

TCM Bank Promotes Kenneth Singh to Chief Financial Officer

Washington, D.C. (July 9, 2019)—TCM Bank, N.A., the credit card bank of ICBA Bancard®, which is the payments services subsidiary of the Independent Community Bankers of America® (ICBA), today announced the promotion of Kenneth Singh from controller to chief financial…

ICBA Bancard Hires Vice President, Client Relations Manager

Washington, D.C. (July 8, 2019)—ICBA Bancard, the payment services subsidiary of the Independent Community Bankers of America® (ICBA), today announced Heather Sullivan as vice president of client relations. Most recently, Sullivan served as a senior client relations representative for ICBA…

Washington Banker Elected ICBA Bancard Chairman

Washington, D.C. (June 28, 2019)—ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America® (ICBA), announced today the election of Gregory Deckard, president, chairman and CEO of State Bank Northwest in Spokane Valley, Wash., as chairman of…

ICBA Statement on Executive Order to Promote Affordable Housing

Washington, D.C. (June 25, 2019)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on President Donald Trump’s executive order to promote affordable housing development. “ICBA and the nation’s community banks applaud President Trump’s…

ICBA Bancard Announces New Hire, Promotions

Washington, D.C. (June 20, 2019)—ICBA Bancard, the payment services subsidiary of the Independent Community Bankers of America® (ICBA), today announced Rebecca Kruse’s hire as executive vice president of operations. ICBA Bancard also announced staff promotions for Julie Hanson to executive…

Call Report Final Rule Fails to Meet Intent of Congress

Washington, D.C. (June 17, 2019)—The Independent Community Bankers of America® (ICBA) said today’s interagency final rule to implement quarterly reporting relief required by law fails to meet the intent of Congress. While Congress required regulators to establish a short-form call…

ICBA Announces IT, Human Resources and Marketing Promotions

Washington, D.C. (June 14, 2019)—The Independent Community Bankers of America® (ICBA) today announced five new promotions. LuAnne Roelike was promoted to vice president of database/application development and services, Lawk Salih to vice president of technology systems and services, Humaira Mir…

ICBA Forms Task Force on Credit Union Acquisitions

Washington, D.C. (June 10, 2019)—The Independent Community Bankers of America® (ICBA) announced the formation of a new task force on the disturbing trend of large credit unions increasing their taxpayer-subsidized footprint by buying up smaller, taxpaying community banks. The ICBA Credit Union…

ICBA Independent Banker Names Community Banking’s 40 Under 40

Washington, D.C. (June 10, 2019)—Independent Banker® magazine, the award-winning monthly publication of the Independent Community Bankers of America® (ICBA), announced the 40 Under 40: Emerging Community Bank Leaders. The first-annual award recognizes up-and-coming innovators, influencers, and civic servants that represent the…

ICBA Grows Member Relations, Advocacy and Marketing Departments

Washington, D.C. (June 7, 2019)—The Independent Community Bankers of America® (ICBA) today announced four new hires in support of ICBA’s mission to create and promote an environment where community banks flourish. Casey Christopher will serve as vice president of member…

ICBA Urges Congress to Investigate Credit Union Abuses

Washington, D.C. (June 5, 2019)—The Independent Community Bankers of America® (ICBA) today called on Congress to investigate the National Credit Union Administration’s failure to prevent credit union lending abuses. In letters to the Senate Banking and House Financial Services committees, ICBA cited…

ICBA and Kasasa Renew Preferred Service Provider Agreement

Washington, D.C. (June 5, 2019)—The Independent Community Bankers of America® (ICBA) and Kasasa announced today that they have extended their Preferred Service Provider relationship. For more than 10 years, community banks have used the Kasasa reward checking program to increase…

ICBA ThinkTECH Accelerator Alumni Invest Sou Sou Wins Best of Show at Finovate

Washington, D.C. (May 30, 2019)—The Independent Community Bankers of America® (ICBA) and The Venture Center celebrate this year’s Finovate Best of Show winner, Invest Sou Sou. Finovate is a demo-focused conference series focused exclusively on showcasing the best and most innovative…

Attend ICBA Securities’ The Bond Academy

Learn Bond Basics with your Peers! When: October 21, 2019 Where:  Embassy Suites 1022 S. Shady Grove Road Memphis, TN  38120 The Bond Academy is designed to provide community bankers with the basic knowledge needed to help plan and create effective investment…

Media Advisory: ICBA Marks One-Year Anniversary of S.2155 Passage

ICBA Marks One-Year Anniversary of S.2155 Passage Washington, D.C (May 21, 2019)—This week the Independent Community Bankers of America® (ICBA) is marking the one-year anniversary of the signing of the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155). ICBA…

ICBA Inks Deal with Avannis For Survey Management

Washington, D.C. (May 16, 2019)—The Independent Community Bankers of America® (ICBA) announced today that Avannis has been selected as its newest Preferred Service Provider. Avannis specializes in experience management tools that provide community banks insight into their customers point of…

ICBA Promotes Laura Norrell to Director, Vendor Relations

Washington, D.C. (May 14, 2019)—The Independent Community Bankers of America® (ICBA) today announced the promotion of Laura Norrell to director of vendor relations. “Laura’s industry knowledge and expertise have been invaluable in spotlighting our ICBA preferred service provider (PSP) offerings, which…

ICBA Announces Staff Promotions

Kevin Tweddle Named Chief Operating Officer of ICBA Services Network Washington, D.C. (Jan. 2, 2019)—The Independent Community Bankers of America® (ICBA) today announced several staff promotions, effective Jan. 1, 2019. Kevin Tweddle was named chief operating officer for the ICBA…

ICBA Articles

Waters: Community Banking Issues Remain Top Priorities

Congress continues working to advance pro-community bank policies to help them meet the needs of local communities, House Financial Services Chairwoman Maxine Waters (D-Calif.) said at the ICBA Capital Summit. Waters cited her panel’s passage of ICBA-supported legislation to establish…

Volcker Rule Simplification Advances

The FDIC approved an interagency final rule to simplify the Volcker Rule, which generally prohibits banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds. Among its provisions, the final rule tailors compliance…

USDA Details Calculations of Trade Damages

The USDA published details of how estimated damage from trade disruptions was calculated for its $16 billion support package for farmers. USDA economists estimated gross trade damages for commodities with assessed retaliatory tariffs by China, India, the European Union, and Turkey to…

Urge Congress to Investigate Credit Union Acquisitions

ICBA is calling on community bankers to urge their members of Congress to investigate the troubling trend of large credit unions buying up community banks. Community bankers can use ICBA’s Be Heard grassroots action center to send in custom messages…

Trump: Fannie, Freddie Conservatorship ‘Urgent Problem’

President Donald Trump said the conservatorship of Fannie Mae and Freddie Mac is a “pretty urgent problem.” Speaking to the National Association of Realtors in Washington, Trump said taxpayers remain on the hook in case of another crisis and his…

Tell Congress to Support Tax Relief for Rural Lending

ICBA is calling on community bankers to urge their members of Congress to co-sponsor legislation to provide tax relief for agricultural and rural residential lending. Community bankers can use ICBA’s Be Heard grassroots action center to urge support for the Enhancing…

Taskforces to Study Innovation in Banking

On the heels of her remarks at the ICBA Capital Summit, House Financial Services Chairwoman Maxine Waters (D-Calif.) yesterday announced the creation of two task forces to develop consumer safeguards for fintech companies. In making the announcement, Chairwoman Waters said…

Stephen Moore Withdraws from Fed Consideration

President Donald Trump announced that the Heritage Foundation’s Stephen Moore has withdrawn from consideration for the Federal Reserve Board. Moore has drawn Senate opposition to his nomination due to years-old columns he wrote for the National Review. His withdrawal follows that of…

Senators Press Agencies on Capital Relief Proposal

A group of 20 senators including Senate Banking Committee Chairman Mike Crapo (R-Idaho) called on regulators to revisit their proposed rule to implement exemptions from risk-based capital requirements for many community banks. In a joint letter, the lawmakers said the…

Senate Schedules Bowman Nomination Vote

Before the Senate broke for its August recess, Majority Leader Mitch McConnell (R-Ky.) filed cloture to set up a September vote to approve Federal Reserve Board Governor Michelle “Miki” Bowman’s nomination for a full 14-year term. The move follows ICBA’s…

Senate Panel Pressures Agencies on Community Bank Relief

Senate Banking Committee Republicans led by Chairman Mike Crapo (R-Idaho) called on federal regulators to advance several pro-community bank policies, including unfinished measures from the S. 2155 regulatory relief law. In a joint letter representing several ICBA advocacy initiatives, the lawmakers urged…

Senate Committee Schedules Cannabis Hearing

The Senate Banking Committee scheduled a hearing on cannabis banking for Tuesday, July 23. The hearing will feature testimony from Sens. Cory Gardner (R-Colo.) and Jeff Merkley (D-Ore.), who have introduced the Senate version of ICBA-advocated legislation to establish a cannabis-banking…

Senate Bill Would Establish ‘Beneficial Owner’ Database

New Senate legislation would establish federal reporting requirements requiring all “beneficial ownership” information to be maintained in a federal database, among other provisions. Introduced by Senate Banking Committee Mark Warner (D-Va.), Tom Cotton (R-Ark.), Doug Jones (D-Ala.), and Mike Rounds…

Seller’s Market? A Guide to Finding Liquidity Among Your Holdings

By Jim Reber, ICBA Securities Quick: What’re the most saleable assets on your community bank’s balance sheet? If you get this wrong, you need to be running a “not-for-profit depository financial institution.” Bonds, of course. Most people I talk to…

SEC Proposes Significant Sarbanes-Oxley Rule Rollback

The Securities and Exchange Commission is seeking to roll back a key provision in the Sarbanes-Oxley Act, which has proven disproportionately burdensome for publicly held community bank holding companies. Under the proposal, companies with less than $100 million in revenue…

SEC Boosts Oversight of Proxy Advisory Firms

The Securities and Exchange Commission issued guidelines to clarify its oversight over proxy advisory firms and help investment advisers fulfill their proxy voting responsibilities. With this ICBA-supported step, the SEC can exercise more oversight over proxy advisers, which advise shareholders and…

Rural Index Rises, but Farm Woes Continue

Creighton University’s index of the rural economy rose above growth-neutral in June, though more than one in four surveyed bank CEOs reported rising loan defaults due to farmer financial woes. Almost half of bankers reported that due to crisis-level farm…

Romero Rainey: Your Stories Make a Difference

Personal engagement and story-telling are the keys to effective grassroots advocacy and have helped community bankers achieve positive gains in Washington, ICBA President and CEO Rebeca Romero Rainey said at ICBA’s 2019 Capital Summit. Addressing community bankers ahead of a…

Romero Rainey: Tell Congress to Stand Up to Credit Unions

ICBA President and CEO Rebeca Romero Rainey called on community bankers to use ICBA’s Be Heard grassroots action center to urge Congress to investigate the trend of large credit unions buying up community banks. In a message to community bankers,…

Romero Rainey: Community Bankers Left Nothing on the Field

ICBA and community bankers can take pride in knowing they left nothing on the field during the debate over Federal Reserve involvement in real-time payments, ICBA President and CEO Rebeca Romero Rainey wrote. In a message to community bankers also…

Romero Rainey to Regulators: Finish the Job on S. 2155

On the one-year anniversary of the signing of the S. 2155 regulatory relief law, ICBA President and CEO Rebeca Romero Rainey called on regulators to finish the job for community banks. In an American Banker op-ed as part of ICBA’s…

Report: Credit Unions Straying from Founding Mission

Credit unions have strayed from their founding mission of serving people of small means, according to a new report from Federal Financial Analytics. The report notes that credit unions have figured prominently in reports of predatory lending, increasingly serve middle-…

Rate Cuts a ‘Mid-Cycle Adjustment’: Minutes

Most Federal Open Market Committee members viewed this month’s interest rate cut as a “mid-cycle adjustment,” rather than as part of a “preset course,” according to minutes of the July 30-31 meeting. Participants said the nature of the economic risks contributing…

Quarles: Fed Expects Prep for LIBOR Transition

The Federal Reserve will expect to see an appropriate level of preparedness for the transition away from the London Interbank Offered Rate, or LIBOR, Fed Vice Chairman for Supervision Randal Quarles said. Quarles said the Fed’s supervisory approach will be…

Powell: Widespread Support for Fed Faster Payments Involvement

More than 90 percent of the 350 respondents to the Federal Reserve’s faster payments request for comment said it should build a real-time gross settlement service, Fed Chairman Jerome Powell said. In a recent letter to senators, Powell said the…

Powell: Trade Uncertainty a New Fed Challenge

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…

Powell Signals Looming Rate Cuts

Federal Reserve Chairman Jerome Powell told Congress that while the economy performed “reasonably well” during the first half of the year, low inflation and economic “crosscurrents” are weighing on activity. Powell testified that the outlook remains solid, but economic momentum has…

Powell Cites Community Bank Push on Faster Payments

Federal Reserve Chairman Jerome Powell told Congress that community banks are strongly pushing the agency to have a leadership role in faster payments. Powell told the House Financial Services Committee that the Fed’s request for comment on whether it should operate…

Op-Ed: Fed Must Stop Faster Payments Monopoly

A Fed-operated real-time settlement system is needed to ensure universal access and to promote future payments innovations, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed on Medium. Despite the megabank pushback against competition in real-time payments,…

Op-Ed: Community Banks Standing Up for Rural America

Wall Street financial institutions are once again showing that when the going gets tough, they head for the exits, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed on Medium. In the op-ed, Romero Rainey cited a…

OCC Consolidates Supervision Support Functions

The OCC announced the consolidation of its bank supervision support, risk analysis, and oversight functions into two new units. The realignment of approximately 150 staff members into the new Supervision System and Analytical Support unit and Systemic Risk Identification Support…

Non-Employer Firms Growing Segment of Economy: Fed

Businesses without employees on payroll are a growing part of the U.S. economy, increasing in number by 81 percent over the past two decades, the Federal Reserve Bank of New York recently reported. While they represent just 3 percent of…

New White House Council Takes on Housing Barriers

President Donald Trump signed an executive order to establish a council dedicated to removing obstacles that impede the development of new affordable housing. The White House Council on Eliminating Barriers to Affordable Housing Development will examine federal, state and local…

New Blog Post on Battling Synthetic Identity Fraud

A new blog post from ICBA’s Jeremy Dalpiaz breaks down synthetic identity fraud, in which perpetrators combine fictitious and sometimes real information to create new identities to defraud institutions and individuals. In Main Street Matters, Dalpiaz discusses how the fraud…

NCUA Quadruples Credit Union Appraisal Threshold

The National Credit Union Administration approved an ICBA-opposed final rule that quadruples the threshold at which credit union commercial real estate transactions are exempt from appraisals. The NCUA board vote increased the threshold from $250,000 to $1 million, double the…

NCUA Proposes Another Delay in Credit Union Capital Rules

The National Credit Union Administration continued serving as a credit union industry advocate by proposing another delay in implementing risk-based capital rules for large credit unions. The proposed rule, approved on a 2-1 vote over the strong opposition of NCUA…

N.Y. Challenge to OCC Fintech Charter Proceeds

A federal court ruled that the New York Department of Financial Services’ legal challenge to the OCC’s special-purpose fintech charter may proceed. As reported by Bloomberg, U.S. District Court Judge Victor Marrero said the OCC failed to rebut the state agency’s…

Minority Bank Performance Improves Amid Consolidation: FDIC

Minority depository institution financial performance has significantly improved over the past five years, though the number of MDIs continues to decline, the FDIC reported. In a new study released in conjunction with this week’s interagency conference, the FDIC said the…

Miki Bowman Renomination Advances

The Senate Banking Committee advanced the ICBA-supported nomination of Michelle “Miki” Bowman for a full term as a member of the Federal Reserve Board.  As advocated by ICBA, President Donald Trump renominated Bowman last month following her bipartisan confirmation for…

McWilliams: Resolution Regime Must Consider Cyber

The FDIC is working to update its regime of resolving failing financial institutions to account for resolutions driven by cyber incidents, FDIC Chairman Jelena McWilliams said. Speaking in London, McWilliams said a cyber-based resolution would present unique challenges due to…

McWilliams: Regulatory System Should Encourage Innovation

FDIC Chairman Jelena McWilliams said she is working to ensure the regulatory system encourages innovations that expand access to banking to more consumers. Speaking in Washington, McWilliams said the regulatory framework should encourage banks to offer small-dollar loans, avoid unnecessary…

McWilliams: Regulation Stifles Innovation

The banking agencies are rethinking their regulatory approach to make it more agile and allow community banks to innovate, FDIC Chairman Jelena McWilliams said at ICBA’s 2019 Capital Summit. In fact, one of her biggest surprises in her first year…

McWilliams: Agencies Encourage BSA/AML Innovation

Federal agencies should develop better ways to communicate the value of suspicious activity reports to the bankers that incur the costly burden of the reporting, FDIC Chairman Jelena McWilliams said. Speaking in Washington, McWilliams noted that Bank Secrecy Act rules…

McHenry Requests S. 2155 Implementation Update

House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) urged regulators to swiftly implement several outstanding provisions of the S.2155 regulatory relief law. In letters to the prudential banking regulators, Securities and Exchange Commission and Consumer Financial Protection Bureau, McHenry…

Markup Today Includes BSA, Flood Insurance Bills

The House Financial Services Committee today is scheduled to begin marking up ICBA-supported legislation on beneficial ownership and the National Flood Insurance Program. Rep. Carolyn Maloney’s (D-N.Y.) Corporate Transparency Act (H.R. 2513) would require certain small businesses to disclose their…

Main Street Victory: ICBA Applauds Fed on Real-Time Payments Decision

Fed System Will Ensure Broad Access and Stop Megabank Monopoly Washington, D.C. (Aug. 5, 2019)—The Independent Community Bankers of America® (ICBA) today applauded the Federal Reserve for its decision to develop a real-time payments system—a longtime ICBA priority. The Fed…

Lawmakers Urge SBA to Delay Lending Rule

The four leaders of the House and Senate small business committees called on the Small Business Administration to delay an ICBA-opposed proposal that could negatively affect many lenders and borrowers. In a joint letter, Senate Small Business Committee Chairman Marco…

Lawmakers Continue Pressing Fed on Faster Payments

ICBA’s push for Federal Reserve leadership on real-time payments continued bearing fruit during Fed Chairman Jerome Powell’s second straight day of congressional testimony. Ahead of Powell’s testimony before the Senate Banking Committee, Ranking Member Sherrod Brown (D-Ohio) sent him a…

Key Senators See Bipartisan ‘Beneficial Owner’ Reform

The heads of the Senate Banking Committee said there is growing bipartisan support for legislation to reform how companies disclose their “beneficial owners.” At a committee hearing, Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) cited legislation introduced earlier this…

Key Senator Opposes Delay in Credit Union Capital Rules

Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio) said he is disturbed that the National Credit Union Administration proposed another delay in implementing risk-based capital rules for large credit unions. In a statement, Brown commended NCUA board member Todd Harper…

Keep Urging CFPB to Raise HMDA Thresholds

ICBA continues calling on community bankers to submit comment letters supporting the Consumer Financial Protection Bureau’s proposal to increase Home Mortgage Disclosure Act thresholds. The CFPB plan would raise coverage thresholds for collecting and reporting data about closed-end mortgage loans…

Interagency Webinar on Private Flood Insurance

The FDIC’s Division of Depositor and Consumer Protection will conduct an interagency webinar next month on the recently issued interagency final rule on private flood insurance.  Scheduled for 2 p.m. (Eastern time) Tuesday, June 18, the webinar will cover mandatory…

Idaho Bankers Association Endorses ICBA Bancard

Washington, D.C. (Aug. 8, 2019)—ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America® (ICBA), has been endorsed by the Idaho Bankers Association (IBA). This marks the 39th state banking association to give its seal of approval…

ICBA: Stop Credit Union SBA Program Participation

ICBA urged the Small Business Administration to terminate its recent memorandum of understanding with the National Credit Union Administration. In a letter to Acting Administrator Chris Pilkerton, ICBA said credit union participation in SBA programs violates the spirt of the…

ICBA: Nonmember Share Plan is More of the Same from NCUA

ICBA told the National Credit Union Administration that its proposal to allow credit unions to hold more nonmember shares is the latest example of the agency pushing the envelope to help the industry it regulates. The NCUA plan would allow…

ICBA: Credit Score Rule Should Avoid Conflicts of Interest

ICBA called on the Federal Housing Finance Agency to ensure that no consumer data provider owns or controls any new third-party credit score model for Fannie Mae and Freddie Mac. In a letter to FHFA Director Mark Calabria, ICBA said…

ICBA: Call Report Rule Doesn’t Meet Congressional Intent

ICBA said the newly released interagency final rule to implement call report relief fails to meet the intent of Congress. While the Economic Growth, Regulatory Relief, and Consumer Protection Act required a short-form call report in the first and third…

ICBA, Groups Urge Military-Banking Parity

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, Groups Remind Congress of Direct Deposit Benefits

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…

ICBA-Backed Capital Bill Introduced in Senate

ICBA-supported legislation to enhance community bank access to capital was introduced in the Senate. The Community Bank Access to Capital Act of 2019 (S. 1233), introduced by Sen. Mike Rounds (R-S.D.), includes ICBA-advocated provisions to: exempt publicly held community banks…

ICBA-Backed Bill Would Raise USDA Loan Limits

ICBA-supported legislation to raise loan limits on USDA farm loans was introduced by Rep. Mike Bost (R-Ill.). The bipartisan Beginning Agriculturist Lifetime Employment Act would initially raise limits to $2.5 million and increase them incrementally to $3.5 million, with levels…

ICBA Welcomes Standardized Approach to Cyber Preparedness

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…

ICBA Urging Faster Payments Grassroots Outreach

ICBA is calling on community bankers to send messages to their district Federal Reserve Bank urging support for Fed leadership on faster payments. Community bankers can use ICBA’s Be Heard grassroots action center to tell their Fed district president why the…

ICBA Urges Senate Vote on Bowman Renomination

ICBA urged Senate leaders to schedule a floor vote on Federal Reserve Board Governor Michelle “Miki” Bowman’s nomination for a full term. The Senate Banking Committee in June advanced Bowman’s nomination following her bipartisan confirmation for a partial term that…

ICBA Urges Senate Panel to Take Up Cannabis Safe Harbor

ICBA submitted testimony calling on the Senate Banking Committee to take up legislation that would establish a cannabis-banking safe harbor in states where cannabis is legal. In a written statement for the committee’s hearing on the Secure and Fair Enforcement Banking…

ICBA Urges Passage of Bills Easing BSA Burdens

ICBA urged the House Financial Services Committee to pass two bills to streamline Bank Secrecy Act regulations that place undue burdens on community banks. The bills are expected to be voted on today during a committee markup that started Wednesday.…

ICBA Urges New Approach to Brokered Deposits

ICBA called on the FDIC to revise how it treats brokered deposits and related interest rate restrictions. In a comment letter on the agency’s comprehensive review of this area, ICBA said brokered deposits can be a stable source of funding…

ICBA Urges Fed to Develop Real-Time Payments System

Fed System Would Ensure Broad Access and Stop Megabank Monopoly Washington, D.C. (July 24, 2019)—The Independent Community Bankers of America® (ICBA) today reiterated its call for the Federal Reserve to develop its own real-time payments settlement system to ensure universal…

ICBA Urges Consistency in FTC Safeguards Rule

The Federal Trade Commission should include more entities under a proposed rule that would apply Gramm-Leach-Bliley Act-like standards to institutions it regulates. In a comment letter, ICBA said the rule should extend to “finders,” which collect financially sensitive personal information…

ICBA Urges CFPB to Streamline Overdraft Rule

The Consumer Financial Protection Bureau should not impose any additional regulatory requirements on financial institutions offering overdraft services, ICBA wrote. In a comment letter on the bureau’s review of its overdraft rule, ICBA wrote that the CFPB should instead work…

ICBA to Fed: Keep Going on Settlement Efficiencies

ICBA continued its advocacy for same-day ACH with a comment letter expressing strong support for a Federal Reserve Board proposal to extend operating hours. The Fed is proposing to move the National Settlement Service closing from 5:30 p.m. to 6:30…

ICBA to Congress: Extend Safeguards on Personal Info to All Entities

ICBA urged Congress to require all entities that are responsible for handling personal consumer information to be held to the same standards as financial institutions. In a statement for today’s Senate Banking Committee hearing on data collection and privacy, ICBA…

ICBA to CFPB: PACE Loans Should be Subject to Same Standards

ICBA issued a comment letter in response to the Consumer Financial Protection Bureau’s advance notice of proposed rulemaking for Property Assessed Clean Energy financing. In its letter, ICBA stressed the need to ensure these loans are subject to the same…

ICBA to CFPB: Maximize HMDA Relief

ICBA called on the Consumer Financial Protection Bureau to maximize relief from Home Mortgage Disclosure Act reporting mandates under a proposed rule. The CFPB proposal would increase the threshold for reporting HMDA data about closed-end mortgage loans from 25 loans…

ICBA to CFPB: Community Banks a Small-Dollar Model

ICBA encouraged the Consumer Financial Protection Bureau to ensure the small-dollar marketplace is fair, transparent and competitive. In a comment letter on the CFPB’s proposal to rescind ability-to-repay provisions required by its 2017 small-dollar rule, ICBA advocated promoting community banks…

ICBA to Agencies: Stress Voluntary Nature of Cyber Tool

ICBA called on federal banking regulators to stress that use of their Cybersecurity Assessment Tool is voluntary and that banks may use one or more recognized technology frameworks. In a comment letter, ICBA also asked regulators to provide banks an…

ICBA Testifies on Small-Biz Reg Relief

ICBA told the House Small Business Committee that regulatory overkill poses a grave threat to community bank small-business lending. At a field hearing in Tulsa, Okla., ICBA leadership banker Chris Jordan discussed several initiatives from ICBA’s Community Focus 2020 agenda to ease…

ICBA Supports FASB Action to Delay Accounting Standard

The Financial Accounting Standards Board authorized a proposal to delay until January 2023 the effective date of the Current Expected Credit Loss accounting standards for many community banks. ICBA said it supports FASB’s vote, which authorizes staff to draft a proposed…

ICBA Supports CECL Stop-and-Study Bill

Continuing its work to address the community bank impact of the Financial Accounting Standards Board’s Current Expected Credit Loss standard, ICBA expressed support for new legislation that would require regulators to study CECL’s impact and delay its effective date by…

ICBA Statement on Rakuten ILC Application

Washington, D.C. (July 29, 2019)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on Rakuten’s application for an industrial loan company charter. “ICBA and the nation’s community banks oppose Rakuten’s application to become…

ICBA Seeks More Accurate Farm Credit Data

The Farm Credit Administration should finally implement an accurate and useable system for collecting and reporting data on young, beginning, and small farmers, ICBA said. In a comment letter to the Farm Credit System regulator, ICBA said the current reporting…

ICBA Seeks Continued Exception to Remittance Mandates

ICBA called on the Consumer Financial Protection Bureau to continue exempting community banks from its final rule on remittance transfers. Responding to a CFPB request for information following its five-year review of the rule, ICBA noted that a temporary exception…

ICBA Seeking Examples of Egregious Credit Union Actions

As it works to oppose the trend of large credit unions buying up community banks, ICBA is encouraging community bankers to send in examples of credit unions’ egregious actions. Community bankers can submit photos and anecdotes to exposingcreditunions@icba.org. Meanwhile, ICBA continues…

ICBA Releases Custom Resources on Credit Union Acquisitions

ICBA released a customizable op-ed and talking points that community bankers can use to oppose the disturbing trend of large credit unions buying up community banks. The custom resources cite the asset disparity of institutions involved in these deals and the rising…

ICBA Recognizing Anniversary of S. 2155 Signing

ICBA this week is recognizing the first anniversary of the enactment of the S. 2155 community bank regulatory relief law. Signed into law by President Donald Trump on May 24, 2018, the Economic Growth, Regulatory Relief and Consumer Protection Act…

ICBA Pushes Back on Land-Development Capital Proposal

ICBA expressed concerns with a proposed rule to limit the scope of the one-to-four-family loan exclusion contained in the agencies’ regulatory capital rules surrounding high-volatility commercial real estate exposures. The proposal would effectively raise regulatory capital requirements for community bank…

ICBA Proposes Alternatives to a Livestock Dealer Trust

ICBA urged the USDA’s Agriculture Marketing Service to explore alternatives to a Livestock Dealer Statutory Trust, which the agency is required to study under the 2018 farm bill. Under the trust, sellers of livestock—including farmers and auction barns—would have first…

ICBA Opposes Rakuten’s ILC Application

ICBA called on the FDIC to deny Rakuten Bank America’s federal deposit insurance application and impose an immediate moratorium on industrial loan company applications. In a comment letter to the agency, ICBA said the application would allow the “Amazon of Japan’s”…

ICBA Opposes Rakuten ILC Application

ICBA said it opposes an application by Japanese e-commerce conglomerate Rakuten to open a U.S. industrial loan company. In a statement, ICBA said the ILC charter is a loophole that should be closed by policymakers. “There is nothing innovative about…

ICBA Opposes Rakuten ILC Application

Industrial loan company charter endangers consumers Washington, D.C. (Aug. 21, 2019)—The Independent Community Bankers of America® (ICBA) today called on the Federal Deposit Insurance Corp. to deny Rakuten Bank America’s federal deposit insurance application and impose an immediate moratorium on…

ICBA Opposes Congressional Pressure for Postal Banking

ICBA told the House that it has serious concerns with congressional efforts to pressure the U.S. Postal Services to offer traditional banking services. In a letter to House members, ICBA noted that postal banking is an ill-advised idea fraught with unintended…

ICBA Op-Ed: Credit Union Shopping Spree Funded by Taxpayers

The recent surge in credit union acquisitions of community banks is a disturbing trend that promises a negative impact on taxpayers nationwide, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed. In American Banker, Romero Rainey wrote…

ICBA Issues Summary of Debt-Collection Proposal

ICBA released a summary of the Consumer Financial Protection Bureau’s proposed rule to implement the Fair Debt Collection Practices Act. The proposal restricts third-party debt collectors in how they can contact consumers. It also provides additional information to consumers to…

ICBA Invests in ThinkTECH Accelerator Alumni Teslar Software

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…

ICBA Honors National Community Bank Service Award Recipients

Washington, D.C. (Aug. 8, 2019)—The Independent Community Bankers of America® (ICBA) today announced winners of its 2019 National Community Bank Service Awards, which celebrate the outstanding and innovative volunteer efforts of the nation’s community banks. Whether responding to natural disasters,…

ICBA Forms Task Force on Credit Union Acquisitions

ICBA announced the formation of a new task force on the disturbing trend of large credit unions buying up community banks. The ICBA Credit Union Task Force continues ICBA’s long-standing call for policymakers to re-examine the credit union industry’s tax…

ICBA Files Comment Letter in Support of Reg D

ICBA filed a comment letter with the Federal Reserve in support of an amendment to Regulation D that would lower the rate of interest paid on excess balances for eligible institutions that hold a large proportion of their assets in…

ICBA Continues Pressing Fed on Faster Payments

ICBA President and CEO Rebeca Romero Rainey and ICBA Chairman Preston Kennedy urged the Federal Reserve System to operate a Real-Time Gross Settlement service in support of all financial institutions and their customers. In a letter to Fed Chairman Jerome Powell,…

ICBA Chairman: Fed Would Ensure Access to Real-Time Payments

The Federal Reserve should operate a real-time settlement system to ensure access and choice for all financial institutions and customers, ICBA Chairman Preston Kennedy wrote in a new op-ed. In American Banker, Kennedy wrote that the Fed’s development and operation…

ICBA Briefs Hill Staff on Fed Role in Faster Payments

ICBA briefed House Financial Services Committee staff on why the Federal Reserve should have a leadership role in faster payments. Appearing before committee staff on Capitol Hill, ICBA First Vice President of Payments and Technology Policy Cary Whaley said Fed…

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