ICBA: Financial Services Industry Outlines Proposed Third-Party Risk Management Reforms to Federal Banking Agencies
The Consumer Bankers Association (CBA), along with the American Fintech Council, Coalition for Financial Ecosystem Standards, and Independent Community Bankers of America, today released a new report outlining refined principles and proposed areas for reform to third-party risk management (TPRM) in the financial services industry. The report comes as a result of a roundtable discussion CBA…
ICBA: ICBA Urges OCC to Rescind Approval for Coinbase’s National Trust Charter Following Criminal Lawsuit
The Independent Community Bankers of America (ICBA) today called on the Office of the Comptroller of the Currency to rescind or suspend its conditional approval of Coinbase Global’s application for a national trust bank charter until criminal allegations against Coinbase’s wholly owned subsidiary, Coinbase Financial Markets Inc., are resolved. This follows the New York State Attorney General’s…
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…
ICBA: Leading American Trade Associations Urge Federal Action to Address AI-Enabled Cyber Risk
A cross-sector of trade associations representing energy, electricity manufacturers, technology, financial services, healthcare, chemical distribution, and other critical infrastructure sectors today urged the administration to take coordinated action to address emerging AI-enabled cyber risk. In a letter to the administration, the groups highlighted the deeply interconnected nature of sector-wide risk and put forward a set…
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…
ICBA: ICBA Raises Concerns Over Kraken Pursuit of National Trust Charter
The Independent Community Bankers of America® today expressed strong concern after crypto exchange parent company Payward Inc., operator of Kraken, applied for a national trust bank charter from the Office of the Comptroller of the Currency (OCC). The application follows Kraken’s previously granted accessopens in a new tabfor a Federal Reserve master account and ongoing efforts…
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…