Treasury: Rule Proposed to Implement the GENIUS Act’s Requirements to Counter Illicit Finance
Promotes American Leadership in Payment Stablecoins Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) issued a joint proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The proposed rule, which implements the GENIUS Act’s anti-money laundering…
Treasury: New Guidance Unlocks Economic Opportunity for Overlooked Communities Through Updated Opportunity Zones
The Working Families Tax Cuts Boosts Opportunity Zone Tax Incentive, Driving More Capital to Communities Across America The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released guidance for eligible communities across America to be designated as qualified opportunity zones (QOZs). Under President Trump’s Working Families Tax Cuts, the permanent renewal of the…
ICBA: ICBA and State Groups Urge FDIC to Reconsider Edward Jones Industrial Loan Company Approval
The Independent Community Bankers of America (ICBA) and 38 state banking associations urged the Federal Deposit Insurance Corporation to reconsider its decision to approve Edward Jones’s deposit insurance application to form a Utah-chartered industrial loan company. In a letter to the FDIC opens, ICBA and the state banking groups cited Edward Jones’s extensive network of more than…
FDIC: Proposal Approved to Implement GENIUS Act Requirements and Standards
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking that would implement certain requirements and standards under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The proposed rule would establish a prudential framework for FDIC-supervised permitted payment stablecoins issuers, including requirements related to reserve assets, redemption,…
Agencies Issue Final Rule to Prohibit Use of Reputation Risk by Regulators
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (the agencies) today jointly issued a final rule that codifies the elimination of reputation risk from their supervisory programs. The rule defines “reputation risk” and prohibits the agencies from criticizing or taking adverse action against an institution on the basis of…
SBA: Dates Announced for National Small Business Week 2026 Virtual Summit
Free online summit May 5-6 offers educational workshops, networking, and information on federal resources Today, the U.S. Small Business Administration and America’s Small Business Development Center (SBDC) announced the dates for the National Small Business Week 2026 Virtual Summit. The free online summit, cosponsored by America’s SBDC, will take place on May 5 and 6 from 11 a.m. to 6 p.m….
ABA: Foundation Offers Comments to Treasury on Updating National Financial Literacy Strategy
In a new comment letter submitted today to the U.S. Treasury, the ABA Foundation offered its perspective on updating the U.S. National Strategy for Financial Literacy. The letter underscores the critical role banks play in advancing financial capability nationwide and offers recommendations to strengthen public private collaboration, modernize financial education and better protect consumers from fraud and…
ICBA: ICBA Opposes OCC Approval of Coinbase’s National Trust Bank Charter Application
The Independent Community Bankers of America (ICBA) today expressed opposition to the Office of the Comptroller of the Currency’s conditional approval opens in a new tabof Coinbase’s application for a national trust bank charter for its subsidiary, Coinbase National Trust Co. “Today’s conditional approval of Coinbase’s trust charter application is a grave mistake that will only serve…
OCC: Deputy Comptrollers for Chartering, Organization and Structure Announced
The Office of the Comptroller of the Currency (OCC) today announced the promotions of Jason Almonte and Sebastian Astrada to Deputy Comptrollers for Chartering, Organization & Structure (CO&S). In their new roles, Mr. Almonte and Mr. Astrada will set policies and provide executive direction on federal bank applications, chartering, and corporate activities, policies, processes, and…