Banks Submit Recommendations for GENIUS Act
WASHINGTON,—The American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Financial Services Forum and The Clearing House Association have responded to a U.S. Department of the Treasury Advance Notice of Proposed Rulemaking on its implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) Act. The submission asks Treasury to develop regulations…
ICBA Supports Lowering Community Bank Leverage Ratio
WASHINGTON,—The ICBA and the nation’s community bankers have commended the FDIC board of directors for the proposed rule to lower the Community Bank Leverage Ratio, as advocated since regulators rescinded CBLR relief at the end of 2021. Reducing the CBLR from 9% to 8% will provide community banks additional room on their balance sheets to…
Mega-Credit Union Acquisition Demands Response
WASHINGTON,—The ICBA has issued a statement on the latest acquisitions of a tax-paying community bank by a tax-exempt credit union. “With large tax-exempt credit unions announcing two acquisitions of Main Street community banks in as many days following last year’s record number of deals, ICBA and the nation’s community bankers continue our call for policymakers…
Bank Customers Continue to Use Mobile Apps
WASHINGTON,—For the sixth year in a row, U.S. consumers are conducting their banking via mobile apps more than any other method, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The national survey found that consumers continue to embrace digital banking channels: 54% of bank customers use apps…
Congress Should Hold Credit Unions Accountable
WASHINGTON,—With 20 years having passed since Congress last held a hearing to conduct oversight of the federal tax exemption that credit unions receive, a new survey conducted by Morning Consult on behalf of the American Bankers Association finds that a wide majority of U.S. consumers (67%) believe that Congress should reexamine the tax-exempt status of…
FDIC Makes Final Rule Updating Audit and Reporting Thresholds
WASHINGTON,—The Federal Deposit Insurance Corporation has passed a final rule updating audit and reporting requirements under the Federal Deposit Insurance Corporation Improvement Act. The ICBA and the nation’s community bankers commend the FDIC board of directors for approving a final rule that modernizes the Part 363 asset thresholds mandated under the Federal Deposit Insurance Corporation…
Ag Lenders Signal Cautious Outlook for 2025
ST. LOUIS,—Agricultural lenders report signs of tighter conditions in farm profitability and credit quality in 2025, according to a joint survey conducted by the American Bankers Association and the Federal Agricultural Mortgage Corporation, or Farmer Mac. The survey—based on responses from more than 450 agricultural lenders nationwide—provides a comprehensive snapshot of the agricultural economy and…
CFPB Updates New Proposal to Implement Section 1071
WASHINGTON,—The ICBA has issued a statement on the updated Consumer Financial Protection Bureau proposed rule to implement Section 1071 small-business reporting requirements. “ICBA and the nation’s community bankers commend the administration for making needed improvements to the CFPB’s 1071 rule to help mitigate the negative impact of the intrusive and overly burdensome data collection and…
Kenneth Kelly Elected New ABA Chair
CHARLOTTE, N.C.,—The American Bankers Association has elected Kenneth Kelly as its chair for the 2025-2026 association year at ABA’s annual convention held in Charlotte, N.C.. Kelly is chairman and CEO of First Independence Bank in Detroit, Michigan, one of the nation’s largest minority depository institutions. “Kenneth brings a powerful combination of decisive leadership, strong vision…
ICBA on Ending Government Shutdown
WASHINGTON,—The Independent Community Bankers of America has issued the following statement on the federal government shutdown. “While the nation’s community banks continue working every day to support economic growth in the local communities they serve, the ongoing government shutdown threatens to harm economic growth and Main Street economies. ICBA and the nation’s community bankers encourage…