ICBA: Statement Issued on Executive Order on Promoting AI Innovation and Security
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s executive order on promoting advanced artificial intelligence innovation and security. “ICBA and the nation’s community bankers thank the administration for expressly recognizing community banks as a critical infrastructure component and adopting elements of our joint AI action plan opens…
Agencies Remove Additional References to Reputation Risk
The federal bank regulatory agencies today jointly updated certain interagency documents to remove references to reputation risk. The agencies are taking this action to complement their earlier actions that ended the use of reputation risk in supervision. As the agencies have previously noted, reputation risk can be misused by supervisors as a basis to encourage…
ABA: Statement Issued on Executive Order Promoting Advanced AI Innovation and Security
“We welcome today’s executive order as a constructive step toward strengthening the nation’s approach to managing the cybersecurity risks and opportunities associated with advanced artificial intelligence. Establishing a voluntary framework for government and industry collaboration, improving coordination around vulnerability identification and remediation, and expanding access to advanced cybersecurity capabilities can help better protect critical infrastructure,…
ABA: Bank and Credit Union Groups Issue Statement on Illinois General Assembly Vote to Delay Illinois Interchange Fee Prohibition Act Implementation
The American Bankers Association, Illinois Bankers Association, America’s Credit Unions and the Illinois Credit Union League issued the following statement after the Illinois General Assembly voted to delay implementation of the Illinois Interchange Fee Prohibition Act (IFPA) for one year: “We welcome the Illinois General Assembly’s decision to once again delay the IFPA implementation deadline for another…
ABA: Co-Plaintiffs Commend OCC Interim Final Actions Affirming Federal Preemption in New Comment Letters
In new comment letters filed today, the Illinois Bankers Association, Illinois Credit Union League, American Bankers Association and America’s Credit Unions expressed strong support for both the Office of the Comptroller of the Currency’s interim final rule on national bank non-interest charges and fees and the OCC’s interim final order preempting the Illinois Interchange Fee…
SBA: Administrator Loeffler Applauds Signature of Investing in All of America Act to Strengthen the SBIC Program
H.R. 2066 strengthens the SBIC program, expanding access to capital for rural communities and critical industries Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration(SBA), applauded President Donald J. Trump for signing H.R. 2066, the Investing in All of America Act, into law. The legislation, which was sponsored by U.S. House Small Business and Entrepreneurship Committee Member…
ICBA: ICBA Applauds House Passage of Bipartisan Housing Bill
The Independent Community Bankers of America (ICBA) applauded the House of Representatives for today’s bipartisan passage of its amended housing relief bill, which includes several ICBA-advocated community bank regulatory reforms and promotes housing affordability. “ICBA and the nation’s community banks strongly support bipartisan House passage of the amended housing bill, which includes pro-community bank regulatory…
ICBA: Statement Issued on Executive Order on Financial Technology Regulation
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey released the following statement on President Donald Trump’s executive order directing the Federal Reserve to evaluate the legal, regulatory, and policy frameworks governing access to Reserve Bank payment accounts and payment services by uninsured depository institutions and non-bank financial companies. “Policymakers must recognize the…
ICBA: Statement Issued on Executive Order on the Integrity of the U.S. Financial System
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s executive order on the integrity of the U.S. financial system. “Today’s executive order recognizes the rigorous know-your-customer and due diligence requirements that community banks meet under the Bank Secrecy Act. As ICBA has repeatedly said in meetings with…
ABA: Statement Issued on New Banking-Related Executive Orders
ABA issued the following statement from ABA President and CEO Rob Nichols after the White House released two executive orders related to the banking sector: “ABA has long believed that any player in the financial services marketplace looking to offer bank-like services should be required to meet the same rigorous regulatory and consumer protection requirements….