Agencies Issue Guidance on Lending to Individuals Not Legally Authorized to Work in the United States
The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the agencies) today issued guidance to remind supervised financial institutions of existing supervisory expectations with respect to credit risk management, particularly as it relates to borrowers who are not legally authorized to work in the…
ABA: ABA, ICBA Join State Associations in Urging Senate to Strengthen Stablecoin Yield Provisions in Clarity Act
In a new letter to Senate Majority Leader John Thune and Minority Leader Charles Schumer today, the American Bankers Association and Independent Community Bankers of America joined 76 state associations representing thousands of community financial institutions across the country expressing genuine concerns with the Clarity Act and urging targeted changes to provide greater certainty that payment stablecoins…
ICBA: ICBA Congratulates Lawmakers for Enactment of Bipartisan Housing Law with Pro-Community Bank Policies
The Independent Community Bankers of America (ICBA) congratulated members of Congress for today’s enactment of bipartisan housing legislation that includes a community banking title of ICBA-advocated regulatory relief to promote lending and housing affordability. “ICBA and the nation’s community banks applaud today’s enactment of bipartisan housing legislation with pro-community bank reforms that will promote lending…
FDIC: Notice of Proposed Rulemaking Issued on Disclosure of Information for Appropriate Business Purposes
On June 25, 2026, the FDIC Board of Directors approved a notice of proposed rulemaking that would amend the FDIC’s Rules and Regulations governing the disclosure of information. The proposed rule would provide insured depository institutions (IDIs) with more flexibility to share confidential supervisory information for appropriate business purposes. In addition, the proposed rule would…
HUD: Proposed Rule Would Spark Manufactured Home Innovation & Increase Supply
The proposed rule would remove the permanent chassis requirement for upper stories of manufactured homes. HUD today published a proposed rule in the Federal Register that would update the definition of a manufactured home and support innovative opportunities for multi-story manufactured housing. Under the proposed rule, the new definition of a manufactured home, as noted in the Manufactured Home…
SBA: Proposed Rule Reforms 8(a) Business Development Program to End Racial Discrimination in Federal Contracting
Agency issues new proposed rule to dismantle race-based admissions Today, the U.S. Small Business Administration (SBA) released a proposed rule to end racial discrimination in the 8(a) Business Development Program and dismantle the race-based admissions framework that previously barred Americans of certain races from accessing 8(a) set-aside and sole-source contracting opportunities. Under the new rule, individuals will no longer…
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…