skip to Main Content
ICBA News
ICBA Press Releases

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…

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 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…

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…

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 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-…

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 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…

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…

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…

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…

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…

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-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 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 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 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 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 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 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 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…

ICBA Backs Senate Bill to Boost Capital

ICBA expressed strong support for legislation introduced by Sen. Mike Rounds (R-S.D.) to enhance community bank access to capital. The Community Bank Access to Capital Act of 2019 (S. 1233) includes ICBA-advocated provisions to: exempt banks and bank holding companies…

ICBA Backs Reintroduced TAILOR Act

ICBA expressed support for newly reintroduced legislation that would promote tiered banking regulations. The TAILOR Act of 2019 (H.R. 741), introduced by Rep. Scott Tipton (R-Colo.), would require banking agencies to tailor regulatory actions based on the risk profile and…

ICBA Backs OCC Innovation Pilot Program

ICBA expressed support for a proposed OCC pilot program that would provide eligible entities with regulatory input early in the testing of innovative financial products and services. Under the voluntary Innovation Pilot Program, OCC-regulated institutions would be able to propose…

ICBA Backs House Version of CECL Stop-and-Study Bill

ICBA expressed support for House legislation requiring regulators to study the impact of the Financial Accounting Standards Board’s Current Expected Credit Loss standard and delay its implementation by one year. Introduced by Rep. Vicente Gonzalez (D-Texas), the measure is a House companion…

ICBA Backs Fed Role in Faster Payments: Blog

ICBA supports the Federal Reserve’s leadership role in faster payments, which will provide safety, integrity, continuity and equitable access to all financial institutions, ICBA’s Cary Whaley writes in a new blog post. In Main Street Matters, Whaley notes that big…

ICBA Backs Fed Plan to Clarify Controlling Influence

ICBA expressed support for a Federal Reserve proposal to clarify when a company may exercise a controlling influence over another company under the Bank Holding Company Act or the Home Owners’ Loan Act. Under both acts, a company has control…

ICBA Backs CFPB Plan for Periodic Reviews

ICBA said it supports the Consumer Financial Protection Bureau’s plan to periodically review its rules under the Regulatory Flexibility Act. In a comment letter, ICBA also recommended that the bureau publish an annual report that summarizes comments and information collected…

ICBA Backs Bowman Renomination Ahead of Hearing

ICBA strongly urged the Senate Banking Committee to advance the nomination of Michelle “Miki” Bowman for a full term as a member of the Federal Reserve Board. In a letter to the panel, which today is holding a hearing on…

ICBA Backs Bills Offering Tax Relief for Rural Lending

ICBA expressed support for House and Senate legislation to provide tax relief for agricultural and rural residential lending. Under the Enhancing Credit Opportunities in Rural America Act (H.R. 1872/S. 1641), introduced by Rep. Steve Watkins (R-Kan.) and Sen. Pat Roberts…

Household Debt Continues Climb: N.Y. Fed

Aggregate household debt increased 0.9 percent during the first quarter, the 19th consecutive quarterly increase, according to the New York Federal Reserve Bank.  Mortgage balances rose $120 billion during the first quarter to $9.2 trillion. Balances on home equity lines of…

House Version of CECL Stop-and-Study Bill Introduced

ICBA-supported legislation requiring regulators to study the impact of the Financial Accounting Standards Board’s Current Expected Credit Loss standard and delay its implementation by one year was introduced in the House. Introduced by Rep. Vicente Gonzalez (D-Texas), the measure is…

House Passes Flood Insurance Extension

The House passed legislation to extend the National Flood Insurance Program through Sept. 30. Introduced by House Financial Services Committee Chairman Maxine Waters (D-Calif.) and Ranking Member Patrick McHenry (R-N.C.), the bill would avoid a lapse ahead of the program’s May 31…

House Panel Takes Up BSA, Flood Insurance Bills

The House Financial Services Committee began consideration of ICBA-supported legislation on beneficial ownership and the National Flood Insurance Program. The committee markup is scheduled to resume at 10 a.m. (Eastern time) today. Rep. Carolyn Maloney’s (D-N.Y.) Corporate Transparency Act (H.R.…

House Panel Passes BSA, Flood Insurance Bills

The House Financial Services Committee advanced two ICBA-supported bills to reform beneficial ownership requirements and extend the National Flood Insurance Program, sending them to the full House for consideration. Rep. Carolyn Maloney’s (D-N.Y.) Corporate Transparency Act (H.R. 2513) would require certain small…

FIS Suspends Security Surcharges for Community Banks

After meeting last week with ICBA, FIS has agreed to suspend the assessment of security surcharges on the core processor’s community bank customers. In a previous letter to FIS customers, FIS Head of Operations Rob Johnston said the company would…

Fintech in Focus as ICBA Launches Capital Summit

ICBA will continue working to facilitate fintech partnerships with community banks to meet their unique needs, ICBA Services Network Chief Operating Officer Kevin Tweddle told community bankers at ICBA’s 2019 Capital Summit. During a panel discussion on community bank-fintech partnerships,…

Fintech Charter Decision Slows Applications: Otting

This month’s court decision allowing New York’s financial regulator to proceed with its legal challenge to the OCC’s special-purpose fintech charter is inhibiting applications for the charter, agency chief Joseph Otting told American Banker. In an interview with the publication,…

Final Rule on Treatment of Muni Securities Issued

Federal regulators issued a final rule adopting the agencies’ interim final rule under the S.2155 regulatory relief act amending their treatment of certain municipal securities under federal liquidity rules. The law requires the agencies to treat municipal obligations as high-quality…

FHFA Seeks Authority to Charter New GSEs

The Federal Housing Finance Agency asked Congress to grant it the authority to charter new government-sponsored enterprises to compete with Fannie Mae and Freddie Mac. In its 2018 annual report to Congress, the FHFA requested chartering authority similar to the OCC’s…

FHA Seeking to Streamline Certifications, Defect Taxonomy

The Federal Housing Administration is seeking comment on proposed changes to its loan-level and annual lender certifications as well as its defect taxonomy. The proposed changes streamline the certification statements while holding lenders accountable for compliance with HUD eligibility and…

Fed’s Monetary Policy Review Timely Amid Shifts: Clarida

The Federal Reserve’s review of how it conducts monetary policy is more likely to produce an evolution, not revolution, of its practices, Federal Reserve Vice Chairman Richard Clarida said. Speaking at a “Fed Listens” event at the Boston Fed, Clarida…

Fed’s Powell: Rate Outlook Has Changed

Uncertainty over trade and the strength of the global economy are changing how Federal Reserve officials view the interest rate outlook, Fed Chairman Jerome Powell said. Speaking in New York, Powell said these economic “crosscurrents” appeared to be moderating when…

Fed Warns of Synthetic Identity Fraud

The Federal Reserve warned of a growing trend in which fraudsters combine real and fictional information to establish synthetic identities they use to purchase high-value goods and services on credit. In a new white paper, the Fed said synthetic identity…

Fed Reports on Feedback About CRA Reform

The Federal Reserve Board issued a report summarizing feedback on the Community Reinvestment Act it gathered during 29 public roundtables it held between October 2018 and January 2019. The report includes feedback from bankers and other stakeholders on assessment areas,…

Fed Proposes Payments Updates for Same-Day ACH

The Federal Reserve Board recently requested comment on potential modifications to the Reserve Banks’ National Settlement Service and Fedwire Funds Service. The changes would support enhancements to the same-day automated clearinghouse service. The Fed also requested comment on corresponding changes…

Fed Proposes Extending Netting Protections

The Federal Reserve Board requested comment on a proposal to apply netting protections to a broader range of financial institutions. Parties to a netting contract agree that they will pay or receive the net, rather than the gross, payment due…

Fed Proposes Changes to Info-Sharing Rules

The Federal Reserve Board requested public comment on updates to its rules governing the disclosure of confidential supervisory information. The proposed changes to CSI rules would expand the ability of supervised financial institutions to share CSI with affiliates, among other…

Fed Indicates Rate Cuts Next Year

The Federal Open Market Committee held benchmark interest rates steady but indicated cuts could be coming next year. In updated economic projections, the Fed reduced its median federal funds rate forecast from 2.6 percent to 2.1 percent, while Fed Chairman…

FDIC’s McWilliams: Supporting Community Banks is Paramount

The FDIC’s latest Quarterly Banking Profile reports that the annual rate of loan growth at community banks was 6.6 percent in the first quarter, stronger than the overall industry, FDIC Chairman Jelena McWilliams said. Speaking in Washington as she works…

FDIC Warns of Unaffiliated Website

The FDIC cautioned bank customers about FDIConnect.com, an unaffiliated website that advertises itself as a consumer-focused provider of FDIC pass-through insurance for bank deposits. The website is not affiliated with the FDIC, which operates FDICconnect.gov to connect the agency with…

FDIC Seeks Feedback on Proposed Call Report Revisions

The FDIC is requesting feedback on proposed revisions to the call report. The revision introduces reporting requirements on the proposed Community Bank Leverage Ratio. The proposed call report revisions also address proposed amendments to the FDIC’s regulations that would apply…

FDIC Finalizes Deposit Insurance Recordkeeping Changes

The FDIC board of directors approved amendments to two rules to simplify the process for making insurance determinations in the event a bank is placed into receivership. One change, which applies only to the 32 institutions with more than 2 million…

FDIC Finalizes Capital Simplification for Community Banks

The FDIC board on May 28 approved a simpler risk-based capital rule for community banks that hold mortgage-servicing assets, deferred-tax assets, and insignificant investments in the capital of unconsolidated financial institutions, such as trust-preferred securities. Under the new rule which…

Fannie, Freddie Begin Issuing Uniform Mortgage Security

Fannie Mae and Freddie Mac on Monday began issuing the Uniform Mortgage-Backed Security. The UMBS will be issued through the Common Securitization Platform and will replace the government-sponsored enterprises’ current set of securities. The single security will be issued by…

Defense Bill Would Establish Military-Banking Parity

The Senate passed a defense spending bill with an ICBA-supported provision promoting parity between banks and credit unions on military bases. The $750 billion appropriations bill would require the Defense Department to treat banks and credit unions operating on a…

Crapo Renews Push to Expand Basel III Relief

During Thursday’s Senate Banking Committee hearing, Chairman Mike Crapo (R-Idaho) renewed his calls for federal regulators to maximize community bank relief from risk-based capital rules, including Basel III. In his opening statement, Crapo called on regulators to implement an 8…

Crapo Continues Push on Basel III Relief at Hearing

Senate Banking Committee Chairman Mike Crapo (R-Idaho) called on federal regulators to revisit the Community Bank Leverage Ratio implementing exemptions from risk-based capital requirements. Leading off a hearing featuring testimony from top regulators, Crapo noted that he and committee member Jerry Moran…

Consumer Credit Rises 5% in May

Consumer credit increased at a seasonally adjusted annual rate of 5.0 percent in May, the Federal Reserve said. Revolving credit, which includes credit card spending, rose 8.2 percent. Non-revolving credit, such as auto and student loans, increased 3.9 percent. Read…

Congress Grills Facebook on Libra Plan

Senators expressed serious concerns with Facebook’s proposed Libra cryptocurrency during a hearing featuring Facebook executive David Marcus. At the Senate Banking Committee hearing, Chairman Mike Crapo (R-Idaho) cited concerns with how the payment system will work, what consumer protections will…

Community Banker Testifies on Promoting Small-Dollar Alternatives

ICBA community banker Todd McDonald testified before Congress this week on supporting community banks as alternative providers of small-dollar credit. Testifying before the House Subcommittee on Consumer Protection and Financial Institutions, the senior vice president and board director at Liberty Bank…

Community Banker Hill Meetings Top 320

Community bankers wrapped up the 2019 ICBA Capital Summit with more than 320 advocacy meetings with congressional offices on Capitol Hill. In meetings with House and Senate lawmakers and staff, community bankers advocated regulatory relief through ICBA’s Community Focus 2020…

Back To Top