Bank of America will report its second-quarter 2024 financial results on Tuesday, July 16. The results will be released at approximately 6:45 a.m. ET, followed by an investor conference call at 8:30 a.m. ET.
The Electronic Payments Coalition (EPC) has launched a national advocacy campaign titled "Guard Your Card" to inform Americans about the potential risks associated with new government mandates proposed in the Durbin-Marshall Credit Card Bill. According to the EPC, these mandates could undermine the secure and convenient credit card payment networks that consumers and small businesses rely on daily.
The average cost of cash acceptance at bars and restaurants has surpassed 15%, according to a recent report by the Small Business & Entrepreneurship Council (SBE Council). The report highlights that card and electronic payment options offer significant savings for many businesses, along with convenience and safety for consumers.
Founded in 2017, DataSeers offers a suite of solutions utilizing Artificial Intelligence (AI) to enable banks and fintech companies to improve reconciliation, compliance, fraud detection, and more.
In his opening remarks at the U.S. Senate Committee on Banking, Housing, and Urban Affairs semi-annual hearing with Federal Reserve Chair Jerome Powell, Ranking Member Tim Scott (R-S.C.) addressed the impacts of Bidenomics on American families. Scott also urged Powell to increase transparency in the financial regulators' rulemaking process and reiterated calls for a re-proposal of the current Basel III Endgame proposal.
The House Financial Services Committee, chaired by Patrick McHenry (NC-10), convened a hearing today with Treasury Secretary Janet Yellen to discuss the state of the international financial system. Republicans emphasized concerns over the Biden Administration's foreign policy strategies, suggesting these approaches undermine America's global leadership.
The featured Business Partner for the month of July is Cox Automotive. Cox Automotive is transforming the way the world buys, sells, owns, and uses vehicles. Dealertrack, Kelley Blue Book, and Manheim solutions provide lenders with the connectivity and confidence to thrive in this ever-changing automotive market.
Washington, D.C. (July 8, 2024) — The Independent Community Bankers of America (ICBA) announced its upcoming ICBA ThinkTECH Accelerator program Showcase will take place at the Graduate School of Banking at Colorado (GSBC). The showcase, marking the culmination of the latest Accelerator program (AP7), is part of ICBA’s commitment to fostering collaborative community bank-fintech partnerships that reflect current market dynamics and future customer needs.
AFSA recently joined the U.S. Chamber of Commerce in filing a coalition amicus brief urging the United States Court of Appeals for the Fourth Circuit to hold that a unilateral change-in-terms provision does not render an arbitration agreement illusory and unenforceable.
Independent Banker magazine, the monthly publication of the Independent Community Bankers of America® (ICBA), has announced its 2024 Top Lenders. This accolade recognizes outstanding agriculture, commercial, and consumer and mortgage loan producers across three asset size categories.
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a field hearing on financial institutions and monetary policy. The hearing is titled “Financial Institution-Fintech Partnerships: Leveraging Third-Party Relationships to Increase Access to Financial Services.”
The American Fintech Council (AFC) has announced a strategic partnership with the Association of Military Banks of America (AMBA). This collaboration aims to enhance financial wellness for U.S. military and veteran communities by combining AFC's mission to support responsible fintech companies and innovative banks with AMBA's dedication to serving military personnel and their families.
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a forthcoming hearing titled "The Federal Reserve’s Semi-Annual Monetary Policy Report." The full committee hearing is scheduled for 10:00 AM ET on Wednesday, July 10, 2024. It will take place at 2128 Rayburn House Office Building.
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a forthcoming hearing titled “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System.”
Suspicious activity reports (SARs) demand significant time and resources from financial institutions, far exceeding government estimates, according to a letter filed this week by the Bank Policy Institute, the Financial Technology Association, the Independent Community Bankers of America, the American Gaming Association, and the Securities Industry and Financial Markets Association. These organizations represent a wide range of institutions that file SARs and experience considerable pressure on resources.
The federal government underestimates the amount of time and resources community banks dedicate to reporting suspicious activity, the Independent Community Bankers of America (ICBA) told the Financial Crimes Enforcement Network (FinCEN). In a new comment letter and separate joint letter with other financial industry groups, ICBA stated that FinCEN’s estimate that each suspicious activity report (SAR) takes roughly 1.98 hours to file is significantly undervalued.