ICBA Newsroom
The ICBA Newsroom collects and centralizes all the NewsWatch Today articles, press releases, Main Street Matters blogs, advocacy letters and other news that impacts community bankers.
FHFA Seeks Input on ‘Duty to Serve’ Modifications
The Federal Housing Finance Agency is seeking input on proposed modifications to the Underserved Markets Plans for Fannie Mae and Freddie Mac. The “duty to serve” plans require the enterprises to serve three specified underserved markets—manufactured housing, affordable housing preservation, and rural housing.
October 04, 2018 |
ICBA NewsWatch Today
Housing Finance/GSEs
The Bank of Elk River wins two National Awards for Video Production featuring Elk River residents
The American Bankers Association (ABA) announced the winners of the third annual ABA Bank Marketing Video Awards this week during the Bank Marketing Conference in Baltimore. The Bank of Elk River was one of four banks honored at the conference and took home the “Best in Show” award for its video spotlighting how a local family collaborated with The Bank of Elk River to build their dream home. The video was also the winner in the category for banks with less than $500 million in assets.
October 01, 2018 |
News
Fannie, Freddie Update PMI Standards
Fannie Mae and Freddie Mac revised eligibility requirements for private mortgage insurers, the Federal Housing Finance Agency announced. The updates include changes to: risk-based asset requirements, the treatment of approved risk-transfer transactions, and risk-transfer credit arising from counterparty risk associated with reinsurance transactions. The standards establish minimum financial and operational requirements for doing business with the enterprises.
October 01, 2018 |
ICBA NewsWatch Today
Housing Finance/GSEs
Agencies Issue Customer Identification Program Exemptions
Federal regulators exempted loans for property and casualty insurance policies from Customer Identification Program rules. Banks engaging in insurance premium finance lending must continue to comply with all other regulatory requirements implementing the Bank Secrecy Act, including the requirement to file suspicious activity reports.
October 01, 2018 |
ICBA NewsWatch Today
Compliance
Boston Fed Encourages Tokenization Collaboration
Federal Reserve Bank of Boston researchers encouraged stakeholders to continue collaborating on the development of payment tokenization. Noting that tokenization mitigates risk by eliminating the need to store and transmit a customer’s primary account number, a new paper says that collaboration will help expand its use in e-commerce, evaluate third-party token service providers, educate consumers, and anticipate future innovations.
October 01, 2018 |
ICBA NewsWatch Today
Payments
FinCEN Wants to Talk BSA Reporting with Hurricane-Affected Banks
The Financial Crimes Enforcement Network said financial institutions affected by Hurricane Florence should contact FinCEN and their functional regulator as soon as practicable to discuss any delays in their ability to file Bank Secrecy Act reports. FinCEN can be reached at FRC@fincen.gov.
October 01, 2018 |
ICBA NewsWatch Today
Advocacy
Facebook Breach Affects 50M Users
Facebook announced a security breach affecting nearly 50 million accounts.
October 01, 2018 |
ICBA NewsWatch Today
Data Breach Data Security/Fraud
‘Tax Reform 2.0’ Passes House
The House passed legislation to permanently extend the lower individual tax rates included in the tax reform law signed late last year. Known as “Tax Reform 2.0,” the package of bills would lock in lower rates set to expire at the end of 2025, though it is not expected to be taken up by the Senate. In addition to cutting the top C-corp rate, the ICBA-supported Tax Cuts and Jobs Act of 2017 reduced the individual rates affecting Subchapter S banks.
October 01, 2018 |
ICBA NewsWatch Today
Taxes & Budget
DOJ Indicates Support for ADA Website Flexibility
The Justice Department told members of Congress that it is evaluating whether to issue guidance on web accessibility standards under the Americans with Disabilities Act. Responding to a bipartisan letter from 103 members of Congress requesting clarity, the DOJ stood by its interpretation that the law applies to websites, but left room for a flexible approach.
September 28, 2018 |
ICBA NewsWatch Today
ADA
Contactless Payments Reboot: Get Ready, Get Set
The time has come for community bank card issuers to begin ramping up their contactless payments strategy. More than half of the top 100 U.S. merchants are already contactless enabled and smaller merchants are also speeding to adopt contactless point-of-sale technology in a bid to improve the cusotmer experience.
September 26, 2018 |
Payments Quarterly
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