OCC: Agency Withdraws Principles for Climate-Related Financial Risk Management for Large Financial Institutions
The Office of the Comptroller of the Currency (OCC) today withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions. “The principles providing guidance to banks for climate-related financial risk are overly burdensome and duplicative. The OCC’s existing guidance for banks to maintain a sound risk management framework applies…
CFPB: 2024 HMDA Data on Mortgage Lending Now Available
The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2024 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for approximately 4,898 HMDA filers. The published data contain loan-level information filed by financial institutions and modified to protect consumer privacy. To increase public accessibility, the annual loan-level LAR data…
ABA: Foundation Releases New Report on State Hold Laws and Elder Financial Exploitation Prevention
The American Bankers Association Foundation released a new report today on the use and impact of state laws that allow banks to delay transactions when they suspect financial exploitation of an older or vulnerable person. More than half (54.5%) of bank respondents in states with these “hold” laws have used them to prevent elder financial exploitation, according…
ICBA: ICBA Applauds Agencies for Proposing to Rescind Harmful CRA Rule
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s announcement that the federal banking regulators intend to issue a proposal to rescind the Community Reinvestment Act final rule issued in October 2023 and reinstate the CRA framework that existed prior to that final rule, in light of pending…
FDIC: Process for Banks to Engage in Crypto-Related Activities Clarified
Today, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (FIL-7-2025) that provides new guidance for FDIC-supervised institutions engaging or seeking to engage in crypto-related activities. The new guidance, which rescinds FIL-16-2022, clarifies that FDIC-supervised institutions may engage in permissible crypto-related activities without receiving prior FDIC approval. The guidance affirms that FDIC-supervised institutions may…
Agencies Announce Intent to Rescind 2023 CRA Final Rule
The federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA framework that existed prior to the October 2023 final rule. The agencies will continue to work together to promote…
CFPB: Regulatory Relief Offered for Small Loan Providers
The Consumer Financial Protection Bureau is announcing today that, with respect to the Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, it will not prioritize enforcement or supervision actions with regard to any penalties or fines associated with the Payment Withdrawal provisions and the Payment Disclosure provisions once they become operative on March 30,…
ABA: Trade Groups Welcome Decision to Rescind 2023 CRA Final Rule
The American Bankers Association, the U.S. Chamber of Commerce, Independent Community Bankers of America, Texas Bankers Association, Independent Bankers Association of Texas, Amarillo Chamber of Commerce and Longview Chamber of Commerce issued the following statement after federal banking agencies announced their intent to rescind the 2023 Community Reinvestment Act Final Rule: “We welcome today’s announcement…
ICBA: ICBA Applauds Senate Passage of Resolution to Overturn Flawed CFPB Overdraft Rule
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Senate’s passage of a Congressional Review Act resolution to overturn the Consumer Financial Protection Bureau’s final rule on overdraft services “ICBA and the nation’s community banks commend the Senate for passing Senate Banking Committee Chairman Tim Scott’s…
SBA: Actions Initiated to Reverse Biden-Era Mismangement of Core 7(a) Lending Program
Waiver of $460M in Lender Fees Undermined Integrity of Program for Small Businesses and Taxpayers Today, as part of the work to reverse the gross financial mismanagement of the prior Administration, the U.S. Small Business Administration (SBA) announced it has restored lender fees to its 7(a) loan program. Waiving lender fees was one of the Biden-era practices that…