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….
OCC: Agency Advances Priority of Reducing Regulatory Burden for Community Banks
The Office of the Comptroller of the Currency (OCC) continues to prioritize supervisory and regulatory reforms to reduce burden for community banks and support their role as drivers of economic growth. Most community banks are well capitalized and well managed, conduct business in a safe and sound manner, and engage in low-risk activities. The OCC…
OCC: Two Final Rules on Preemption of State Interest-on-Escrow Laws Issued
The Office of the Comptroller of the Currency (OCC) today issued two final rules on national banks’ and federal savings associations’ real estate lending powers related to the payment of interest on funds held in escrow accounts. The OCC’s actions emphasize federal preemption as a critical tool for reducing unnecessary burden, enabling local and national…
Banking Trades Issue Statement on Senate Banking Committee Vote to Advance Clarity Act
Following today’s Senate Banking Committee vote to advance the Digital Asset Market Clarity Act, the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Financial Services Forum, Independent Community Bankers of America and National Bankers Association issued the following joint statement: “Today’s Senate Banking Committee vote on the Clarity Act marks an important step in…
ICBA: ICBA Applauds House Passage of Pro-Community Bank Regulatory Reforms
The Independent Community Bankers of America (ICBA) applauded the House of Representatives for its bipartisan passage of ICBA-advocated regulatory reforms that will help community banks meet the needs of local communities. “ICBA and the nation’s community banks strongly support House passage of legislation advancing sensible regulatory relief that will help community banks direct more resources…
ABA: ABA Applauds House Passage of Community Banking Legislation
“We applaud the House for passing three pieces of legislation today to strengthen our financial system and ensure that the regulatory and supervisory framework helps banks of all sizes thrive. The TRUST Act, led by Reps. Tim Moore and Ritchie Torres, and the SMART Act, led by Reps. William Timmons and Bill Foster, make much-needed…
ABA: Banking Trade Groups Urge Senate Banking Leaders to Strengthen Stablecoin Yield Guardrails to Prevent Deposit Flight
A coalition of financial trade associations representing banks of all sizes today urged Senate Banking Committee leaders to make important technical refinements to proposed payment stablecoin yield language in the CLARITY Act, warning that allowing interest like yield on stablecoins could weaken bank deposits and reduce credit available to consumers, small businesses and farmers. In…