Community Banks and Credit Unions

The Consumer Financial Protection Bureau issued its long-awaited final rule to bring overdraft services under the umbrella of existing lending laws. The rule is controversial among financial industry advocates who have argued such a rule would limit consumer access to overdraft services, causing them to turn to risky alternatives to cover unexpected expenses. Read on »

A coalition of industry trade groups argued against the legality of the Consumer Financial Protection Bureau’s small business lending rule, implementing Sec. 1071 of the Dodd-Frank Act, in an appellate brief filed in the Fifth Circuit Court of Appeals. Read on »

The U.S. Department of Justice and the Consumer Financial Protection Bureau issued a joint letter intended to remind financial services providers of their responsibility to honor interest rate protections for servicemembers, recent veterans and their spouses as stipulated in the Servicemembers Civil Relief Act. Read on »

Entering the home-stretch of the year, mortgage applications are trending in a positive direction and the financial industry remains busy making sure regulators know where banks and credit unions stand on a number of issues. Learn more about these matters in this roundup. Read on »

Twenty House Republicans called for the Federal Deposit Insurance Corp. (FDIC) to withdraw its proposed rule to expand the definition of brokered deposits in a letter to FDIC Chair Martin Gruenberg. They claimed that expanding the rule would result in capturing many deposits that do not pose major liquidity or other risks. Read on »

Inflation is certainly a topic that, despite recent reductions in interest rates and other positive economic factors, economists and financial professionals are unlikely to get away from anytime soon. Learn what one Federal Reserve governor had to say on the matter recently, along with other recent developments in this regulation roundup. Read on »

The Farmer Assistance and Revenue Mitigation Act, legislation intended to provide targeted relief to farmers struggling from the impact of circumstances beyond their control, has received expressed support from the community banking sector. The bill includes language intended to support farmers who have suffered economic losses due to adverse weather conditions and low commodity prices. Read on »

With the holiday season upon us, financial professionals are mindful of the heightened risk of cybersecurity issues, as well as the end-of-year activities by their prudential regulators as they finalize their budgets and last-minute rulemakings. Read about these matters and more in this roundup. Read on »

The adjusted fee schedule for payment services provided by the Federal Reserve Banks is set to take effect Jan. 1, 2025. These services include the clearing of checks, automated clearing house transactions, instant payments, and wholesale payment and settlement services. Read on »

As the year enters the final stretch, banking advocates are voicing their concerns and hopes for future policy positions they argue will benefit both the financial marketplace and consumers. These priorities include opposition to certain proposed regulations and recommended changes to regulatory approaches. Learn more in this roundup. Read on »