Fed to Review Its Supervision of Silicon Valley Bank
The Federal Reserve has launched a review of its own supervision of Silicon Valley Bank following the bank’s failure.
Banking Groups Respond to Biden ‘Junk Fees’ Jab
Following President Joe Biden’s reference in the State of the Union address to reducing bank overdraft and credit card late fees, industry trade groups said the president had provided “misleading” information about the fees. During Tuesday’s speech to Congress, Biden...
Ion Bank’s Fennell Named to ICBA Delegate Board
Ginger Fennell, Ion Bank’s chief risk officer and treasurer, has been elected to the Independent Community Bankers of America federal delegate board.
Biden, CFPB Target ‘Junk Fees’
The Biden administration’s push to crack down on so-called junk fees that banks and other companies charge their customers is being met with withering criticism from banking groups.
Poll Finds America’s Voters Support Marijuana Banking Access
A new poll commissioned by a trade group for community banks finds a large majority of voters think businesses in the marijuana industry should be able to access banking services in states where marijuana is legal.
Banking Group Concerned About CBDC Approach
The executive order on cryptocurrency has raised concerns in the banking industry about the Biden administration’s approach to possibly creating a digital currency issued by the federal government.
Controversial Bank Reporting Bill Left Out of House Bill
The budget reconciliation bill passed Friday by the U.S. House of Representatives does not include the controversial proposal to have banks and credit unions report account information to help fund the programs supported by the bill. The reporting proposal, which...Bank Groups Reject Tweaks to Biden’s Financial Reporting Proposal
Democrats have updated a Biden administration proposal that would require that banks and credit unions report account activity to the Internal Revenue Service, but trade groups remain opposed to the plan.
Industry Groups Continue Campaign Against Proposed IRS Reporting
An aggressive industry campaign against a Biden administration proposal to report bank account information to the Internal Revenue Service continued on Thursday as more than 100 trade groups and other organizations sent a joint letter to congressional leaders voicing opposition to the proposal.
CPFB Rule Seeks More Small Business Lending Data
The Consumer Financial Protection Bureau has proposed new small business lending rules that the agency said would help small businesses gain access to credit and increase transparency in the lending marketplace.
Congress Extends PPP Deadline
The Senate passed a bill 92-7 on Thursday to extend the deadline for business owners to apply for forgivable loans through the Paycheck Protection Program, giving applicants two more months to apply for federal aid.
Real Estate, Banking Industries Respond to Capitol Siege
Major figures in the banking and commercial and residential real estate industries roundly condemned Wednesday’s attack on the U.S. Capitol Building by supporters of President Donald Trump aimed at halting Congress’ ceremonial affirmation of the 2020 election results.
Trade Groups Monitoring Cyberattack’s Impact on Banks
Community bank and credit union trade groups have been monitoring the recently discovered cyberattack on the U.S. government and businesses, as questions remain about the extent of the attack on the financial industry.
Industry Reacts to GSE Adverse Market Fee
Fannie Mae and Freddie Mac are tacking on a fee to refinance transactions, and major mortgage industry trade groups are upset.
Trump Focuses On Regulatory Relief In Talks With Community Bankers
Community bankers who met with President Donald Trump yesterday expressed optimism that the president would tackle the issue of regulatory relief for smaller financial institutions.
