FDIC: Board of Directors Rescinds Statement of Policy on Qualifications for Failed Bank Acquisitions
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved the rescission of a Statement of Policy on Qualifications for Failed Bank Acquisitions (Statement of Policy) issued in 2009 and related questions and answers issued in 2010. The Statement of Policy applied to private investments in certain companies that sought to assume deposit liabilities…
Agencies Request Comment on Proposals to Modernize the Regulatory Capital Framework and Maintain the Strength of the Banking System
The federal bank regulatory agencies today requested comment on three proposals to modernize the regulatory capital framework for banks of all sizes. The proposals would streamline capital requirements and better align regulatory capital with risk while maintaining the safety and soundness of the banking system. The federal bank regulatory agencies today requested comment on three proposals…
HUD: Secretary Turner Applauds President Trump for Cutting Red Tape, Restoring Housing Affordability, and Increasing Access to Home Loans
HUD Attacks Barriers to Building Homes and Mortgage Credit Secretary Scott Turner applauds President Trump’s Executive Orders (EO), “Removing Regulatory Barriers to Affordable Home Construction” and “Promoting Access to Mortgage Credit.” The first EO terminates burdensome regulations that stall housing construction, deplete supply, and increase housing costs for hardworking American families. The second reduces regulatory…
ABA: ABA Applauds Executive Order on Mortgage Lending
“We applaud today’s White House executive order to expand bank participation in mortgage lending and give more Americans the chance to own a home. The proposed regulatory changes would help remove some of the significant obstacles preventing many banks, especially community banks, from being able to fully participate in the mortgage market. ABA supports policy…
ICBA: ICBA Commends Trump Administration for Executive Order to Help Community Banks Promote Housing Affordability
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on President Donald Trump’s executive order directing regulatory reforms that will help community banks promote housing affordability. “ICBA and the nation’s community bankers commend the Trump administration for today’s executive order promoting access to mortgage credit. Directing federal regulators to…
Banking Agencies Clarify the Capital Treatment of Tokenized Securities
The federal bank regulatory agencies today jointly issued answers to frequently asked questions to clarify the capital treatment of tokenized securities. A security is often referred to as “tokenized” when ownership rights in the security are represented using distributed ledger technology. The answers to the frequently asked questions clarify that an eligible tokenized security should…
ICBA: ICBA Congratulates House Agriculture Committee on Passing New Farm Bill
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement congratulating the House Agriculture Committee on advancing a new farm bill on a 34-17 vote. “ICBA and the nation’s community banks support passage of the farm bill with further modifications to help ensure farmers and ranchers and the community…
ICBA: ICBA Commends House Financial Services Committee for Advancing Main Street Capital Access Act
The Independent Community Bankers of America (ICBA) today commended the House Financial Services Committee for advancing the Main Street Capital Access Act (H.R. 6955), ICBA-supported legislation to help community banks promote prosperity in local communities across the nation. “ICBA strongly supports the Main Street Capital Access Act, which includes policies that will transform the regulatory…
OCC: Final Rules Issued to Reduce Regulatory Burden for Community Banks
The Office of the Comptroller of the Currency (OCC) today announced two final rules to reduce the regulatory burden for community banks. These actions build upon the OCC’s ongoing efforts to tailor bank supervision and regulation to bank risk profile and reduce burden for its regulated institutions so they can focus resources on core functions…
ICBA: ICBA Expresses Concerns with OCC National Trust Bank Chartering Final Rule
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Office of the Comptroller of the Currency’s final rule opens in a new tab on national trust bank chartering. “ICBA and the nation’s community banks continue to have significant concerns with the OCC’s chartering rule for national trust banks,…