ABA: ABA Applauds CFPB Withdrawal of Regulatory Guidance
“ABA has long expressed concern about the CFPB’s issuance of ‘guidance’ to advance its regulatory policy agenda, and we welcome the CFPB’s decision to withdraw a substantial amount of that guidance today. While banks welcome guidance that helps them understand and comply with the law, too often in the past the CFPB has characterized something as guidance…
ICBA: ICBA Urges Lawmakers to Ensure Community Bank Concerns Are Addressed in GENIUS Act Before Any Senate Vote
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement ahead of a scheduled Senate vote on the GENIUS Act, which would establish a federal regulatory framework for stablecoins. “On behalf of the nation’s community bankers, ICBA urges the Senate to ensure the GENIUS Act provides regulatory clarity while…
OCC: Interim Final Rule on Bank Mergers Issued
The Office of the Comptroller of the Currency (OCC) today adopted an interim final rule amending its 2024 final rule related to its regulations for business combinations involving national banks and federal savings associations. The OCC also rescinded its 2024 policy statement on its review of applications under the Bank Merger Act. The interim final…
OCC: Acting Comptroller of the Currency Discusses Agency Priorities
Acting Comptroller of the Currency Rodney E. Hood today discussed agency priorities at the Building Societies Annual Conference in Birmingham, England. In his remarks, Acting Comptroller Hood highlighted the Office of the Comptroller of the Currency’s work to reduce regulatory burden, improve financial inclusion, support innovations in financial technology, and digital assets in the federal…
SBA: Agency Celebrates National Small Business Week Following White House Proclamation
Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), joined the nation in recognizing National Small Business Week after President Donald J. Trump issued a formal proclamation(Link is external) declaring that the week would take place May 4-10, 2025. “This National Small Business Week, we honor the vital role that America’s entrepreneurs and job creators play in…
HUD: $1.8 Million Provided to Support Youth Aging Out of Foster Care
Assistance provided on anniversary of First Lady Melania Trump’s BE BEST initiative as part of National Foster Care Month and a continuation of HUD’s successful Foster Youth to Independence (FYI) program U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner, in collaboration with First Lady of the United States Melania Trump, today announced…
OCC: Agency Clarifies Bank Authority to Engage in Crypto-Asset Custody and Execution Services
The Office of the Comptroller of the Currency (OCC) today clarified permissible bank activities related to crypto-asset custody and execution services. The OCC published Interpretive Letter 1184 to confirm that national banks and federal savings associations may buy and sell assets held in custody at the customer’s direction and are permitted to outsource to third…
CFPB: Agency Announces It Will Not Prioritize Enforcement Actions Related to Buy Now, Pay Later Loans
The Consumer Financial Protection Bureau is announcing today that it will not prioritize enforcement actions taken on the basis of the Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans, 89 Fed. Reg. 47,068 (May 31, 2024) (“Buy Now, Pay Later”). The Bureau will instead keep its…
ICBA: Latest ThinkTECH Accelerator Cohort Announced
The Independent Community Bankers of America® (ICBA) today announced the selected companies for its ninth ICBA ThinkTECH Accelerator program (AP9). In market May 19 – July 25, the solutions represented in the second cohort of 2025 cover a broad range of key areas critical in helping community bankers meet a wide range of customer needs. …
HUD: Disaster Aid and Financial Flexibility Delivered to Virginia Residents Impacted by Winter Storms and Flooding
The U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the availability of Federal disaster assistance to the Commonwealth of Virginia to supplement recovery efforts in the areas affected by severe winter storms and flooding from Feb. 10-18, 2025. President Trump issued a Major Disaster Declaration on April 4, 2025 for the Commonwealth of…