ICBA: CFPB’s 1071 Rule Again Paused by Court
A U.S. court of appeals temporarily paused the Consumer Financial Protection Bureau’s 1071 small-business rule and extended its compliance deadlines until further notice, as advocated by ICBA. Court Ruling: The U.S. Court of Appeals for the Fifth Circuit granted a request by ICBA and other plaintiffs to suspend implementation of the rule pending their ongoing legal…
Congressman Williams Introduces 1071 Repeal to Protect Small Business Lending Act
Today, Congressman Roger Williams (TX-25) introduced legislation to repeal the small business loan data collection requirements established under Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This bill seeks to eliminate costly regulatory burdens on financial institutions, ensuring greater access to credit for small businesses. “Small businesses are the backbone of the American…
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the California Wildfires and Straight-Line Winds
The California Department of Financial Protection and Innovation, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the California wildfires and straight-line winds on the customers and operations of many financial institutions and…
ABA: Key Policy Priorities Unveiled in Newly Released 2025 Blueprint for Growth
With the pending change in administration and the start of the 119th Congress, the American Bankers Association today released its 2025 Blueprint for Growth outlining ABA’s top policy priorities for 2025. As the voice of the nation’s banking industry, and the only trade association representing banks of all sizes, charters and business models, the Blueprint for Growth…
Agencies Release Annual Asset-Size Thresholds Under CRA Regulations
The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2025 updated Community Reinvestment Act (CRA) “small bank” and “intermediate small bank” asset-size thresholds. The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of meeting the credit needs of its entire community, including…
FFIEC: Federal Bank Regulatory Agencies Release 2023 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2023. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate disclosure statements of small business and small farm…