OCC: Bulletin Issued to Update OCC Contact Information for Certain Community Reinvestment Act, Fair Housing Act, and Equal Credit Opportunity Act Notices and Posters
Summary This bulletin informs banks1 of the appropriate names and addresses for notices required by the Community Reinvestment Act (CRA) and Equal Credit Opportunity Act, and for posters required by the Fair Housing Act. Banks should make the appropriate changes to their notices and posters, if necessary, within 90 days of this bulletin’s date of issuance….
ICBA: ICBA Applauds House Financial Services Committee for Advancing Three Pro-Community Bank Bills to Repeal 1071, Promote De Novo Bank Formation, and Restrict Central Bank Digital Currency
The Independent Community Bankers of America (ICBA) commended the House Financial Services Committee for advancing three ICBA-advocated bills to support community banks and the local communities they serve. “ICBA and the nation’s community banks commend the House Financial Services Committee for today’s votes to advance pro-community bank bills to repeal the Consumer Financial Protection Bureau’s…
ICBA: ICBA Applauds Agencies for Proposing to Rescind Harmful CRA Rule
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s announcement that the federal banking regulators intend to issue a proposal to rescind the Community Reinvestment Act final rule issued in October 2023 and reinstate the CRA framework that existed prior to that final rule, in light of pending…
Agencies Announce Intent to Rescind 2023 CRA Final Rule
The federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA framework that existed prior to the October 2023 final rule. The agencies will continue to work together to promote…
CFPB: Regulatory Relief Offered for Small Loan Providers
The Consumer Financial Protection Bureau is announcing today that, with respect to the Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, it will not prioritize enforcement or supervision actions with regard to any penalties or fines associated with the Payment Withdrawal provisions and the Payment Disclosure provisions once they become operative on March 30,…
ABA: Trade Groups Welcome Decision to Rescind 2023 CRA Final Rule
The American Bankers Association, the U.S. Chamber of Commerce, Independent Community Bankers of America, Texas Bankers Association, Independent Bankers Association of Texas, Amarillo Chamber of Commerce and Longview Chamber of Commerce issued the following statement after federal banking agencies announced their intent to rescind the 2023 Community Reinvestment Act Final Rule: “We welcome today’s announcement…
ICBA: ICBA Applauds Senate Passage of Resolution to Overturn Flawed CFPB Overdraft Rule
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Senate’s passage of a Congressional Review Act resolution to overturn the Consumer Financial Protection Bureau’s final rule on overdraft services “ICBA and the nation’s community banks commend the Senate for passing Senate Banking Committee Chairman Tim Scott’s…
ABA: ABA Applauds Senate Disapproval of CFPB’s Overdraft Rule
“We applaud today’s Senate passage of the Congressional Review Act resolution nullifying the CFPB’s unlawful overdraft rule and thank Senate Banking Committee Chairman Tim Scott for his leadership on this important issue. “Without access to overdraft protection, many Americans would be driven to less regulated and higher risk non-bank lenders to cover unexpected or emergency…
Treasury: Publication of Interim Final Rule Announced Removing Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons
The Treasury Department announces today the formal publication of the Financial Crimes Enforcement Network (FinCEN) interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act and narrows the scope of the rule to foreign reporting companies. This publication in the Federal…
ABA: ABA Welcomes White House Executive Order Phasing Out U.S. Treasury Paper Checks
“We welcome President Trump’s executive order mandating that the federal government cease issuing paper checks for all disbursements, including government benefits and tax refunds. Despite a continued decline in business and consumer use of checks, check fraud has continued to rise. That is why ABA and banks across the country launched the #PracticeSafeChecks campaign last October to…