Tirzah Duren, the vice president of policy and research at the American Consumer Institute (ACI), said the Consumer Financial Protection Bureau’s (CFPB) recently proposed rules on “junk fees” would harm consumers.
The Financial Services Committee, led by Chairman Patrick McHenry (R-NC), conducted a markup of seven new pieces of legislation and six Congressional Review Acts (CRA) at an April meeting.
Washington, D.C. (April 29, 2024) - The Independent Community Bankers of America (ICBA) commenced the 2024 ICBA Capital Summit in Washington with the unveiling of new polling data that reveals significant public backing for community banker perspectives on critical issues. According to ICBA President and CEO Rebeca Romero Rainey, Americans across the nation align with community bankers' stances on essential policy matters.The ICBA-commissioned polling, executed by Morning Consult, highlighted several key findings. The data indicated that 70% of Americans believe that...
U.S. Rep. Blaine Luetkemeyer (R-Mo.) introduced the Regulatory Transparency for Small Businesses Act, a bill to require any proposed regulation from federal agencies to estimate the number of small businesses that would be impacted by the regulation.
Washington, D.C. (April 25, 2024) - The Independent Community Bankers of America (ICBA) has unveiled its legislative and regulatory policy objectives for 2024, setting the stage for the upcoming ICBA Capital Summit from April 28 to May 1. The resolutions, developed and endorsed by ICBA volunteer community bankers, will shape the organization's advocacy efforts in the year ahead, aligning with its core mission of fostering an environment conducive to the success of community banks.In a statement, ICBA Chairman Lucas White, who also serves as the president of The Fountain...
Associated Banc-Corp, a leading Midwest banking franchise, revealed positive financial outcomes in their first-quarter report for 2024. The company reported net income available to common equity of $78 million, translating to $0.52 per common share. This marks a significant improvement compared to the previous quarter's loss of $94 million and a decrease from the earnings of $100 million in the same period last year.President and CEO Andy Harmening expressed satisfaction with the results, stating, "During the first quarter, we continued to make strong progress against our...
LAS VEGAS, April 25, 2024 /PRNewswire/ -- GBank Financial Holdings Inc. (the "Company") (OTCQX: GBFH) has announced its upcoming annual meeting of shareholders scheduled for Tuesday, May 7, 2024, at 2:00 p.m. (PST). Shareholders will have the opportunity to participate remotely, with no physical location for attendance.The event will be hosted by Edward M. Nigro, Executive Chairman, and T. Ryan Sullivan, President/CEO of GBank Financial Holdings Inc. Shareholders are urged to thoroughly review the Annual Meeting Notice and related materials to familiarize themselves with...
The Supreme Court is expected to rule in the next month or two on CFPB v. CFSA, a case challenging the CFPB’s independent funding mechanism through the Federal Reserve. AFSA submitted an amicus brief in support of CFSA.When Congress first met on March 4, 1789, one of the first items of business was to fulfill the requirements of Article III, section 1, of the Constitution. John Jay of New York took the oath as the first Chief Justice on October 19, 1789. The Court's journey from its early days in the Merchants Exchange Building in New York City to its current home on...
Esquire Financial Holdings, Inc., the financial holding company for Esquire Bank, National Association, has announced its operating results for the first quarter of 2024. The company reported net income of $10.1 million for the quarter ended March 31, 2024, with returns on average assets and equity at 2.59% and 20.14%, respectively.Tony Coelho, Chairman of the Board, emphasized the company's belief in maintaining a strong balance sheet and client relationships for long-term success. He stated, "We have always believed that a strong and fortified balance sheet anchored by...
NEW YORK, April 25, 2024 /PRNewswire/ -- R&T Deposit Solutions ("R&T"), a leading provider of tech-enabled cash management and deposit placement programs, has announced a strategic Collaboration Agreement with Supernova Technology ("Supernova"), a prominent financial technology company specializing in digital wealth-based lending solutions.Under this agreement, R&T's subsidiary, Total Deposit Solutions, LLC, will transition its Securities-Based Loan Management System ("LMS") client base to Supernova, providing clients with access to Supernova's cloud-based...
ICBA President and CEO Rebeca Romero Rainey expressed support for proposals to decrease deposit insurance assessments for community banks, stating, "With the Deposit Insurance Fund reserve ratio on track to reach the statutory minimum two years ahead of schedule, ICBA strongly supports proposals to decrease deposit insurance assessments for the nation’s community banks."Rainey referenced remarks made by Acting Comptroller of the Currency Michael Hsu and Consumer Financial Protection Bureau Director Rohit Chopra at the FDIC board meeting, highlighting the importance of...
Environmental groups, including Dogwood Alliance, are urging an end to the subsidies that support Drax's activities, which they claim are causing forest destruction, environmental injustices, and climate damage. The call comes as Drax's annual general meeting faces criticism from various sectors around the world. Kathy Egland, an environmental advocate with the NAACP, emphasized the importance of spreading awareness about the negative impacts of wood burning for energy, stating, "Our message is the same whether we're speaking to the U.S. government as it considers tax...
The American Financial Services Association (AFSA) has recently voiced its support for Senate Bill 1076 in California, emphasizing the importance of enhancing consumer privacy rights in the state. In a joint comment letter to the California Senate Judiciary Committee, AFSA highlighted the need to broaden the scope of information provided by registered data brokers and establish mechanisms to protect consumers' privacy.According to AFSA, SB 1076 plays a crucial role in ensuring that consumers have the ability to request the deletion of their data from all registered...
Borrower engagement is crucial for maintaining healthy financial relationships and ensuring timely bill payments. According to a recent announcement, James Price, Vice President, Sales at Repay, will be hosting a webinar on Thursday, May 2nd at 2:00 p.m. EST to discuss strategies for enhancing borrower engagement in the context of bill payment methods. During the webinar, Price aims to educate businesses on how to effectively engage borrowers and streamline the bill payment process. As Price states, "Join James Price, Vice President, Sales at Repay, on Thursday, May 2nd...
The Andy Trovillion Scholarship, funded by the Association of Military Banks of America (AMBA), aims to support individuals who share Andy's passion for military banking and education. The scholarship honors the legacy of Raleigh A. "Andy" Trovillion, a former GSB faculty member and AMBA board chairman, known for his dedication to the field.According to the AMBA, the scholarship provides $1,500 per session, totaling $4,500, towards Graduate School of Banking (GSB) tuition for each of the three resident sessions. The scholarship is open to various groups, including active...
Darcy Luoma, a renowned author, speaker, and coach, shared her insights on overcoming challenges at the America’s Credit Unions' 2024 HR & Organizational Development Council Conference. Luoma emphasized the importance of viewing challenges as hurdles rather than roadblocks, stating, “The reality is we cannot eliminate hurdles. There will be more unpredictable challenges that we’re not anticipating. The key is to train to overcome them. And when you train, it helps your workplace. When your colleagues pause and think before acting, you have more meaningful discussions, and...
Talos Accelerates Expansion of its Portfolio Management System with Acquisition of CloudwallApr 23, 2024NEW YORK, April 23, 2024 /PRNewswire/ -- Talos, the premier provider of institutional technology for trading digital assets, has announced the acquisition of Cloudwall, a developer of sophisticated digital asset risk technology. The move aims to bolster Talos's capabilities with sophisticated risk management technology critical for the institutional adoption of digital assets.Anton Katz, CEO and Co-Founder of Talos, expressed the significance of the acquisition,...
In a moving keynote address at America’s Credit Unions’ 2024 HR & Organizational Development Council Conference in St. Pete Beach, Fla., Amy Downs, the president and CEO of Allegiance Credit Union, shared her remarkable journey of resilience and transformation following the tragic 1995 bombing of the Alfred P. Murrah Federal Building in Oklahoma City.Downs, who was one of the last individuals rescued from the rubble and spent eight days in the hospital, emphasized the profound realization she had during that harrowing experience, stating, "I was about to die and realized...
US Army Green Beret, gmcgurn@afsamail.org, vividly recalls a pivotal moment during his service in Afghanistan when a farmer decided to defend his home against Taliban attackers. Reflecting on the experience, gmcgurn@afsamail.org describes the transformation he witnessed in Afghan villagers, who went from a state of "inescapable shock" to actively standing up against their oppressors.Describing the unique approach of Green Berets in conflict zones, gmcgurn@afsamail.org explains how they immerse themselves in local cultures and work with indigenous populations to achieve...
Mia Perez, the chief administrative officer at Coastal Credit Union, emphasized the importance of recognizing and addressing skill gaps in the workforce during her speech at America’s Credit Unions’ 2024 HR & Organizational Development Council Conference. Perez highlighted the necessity for HR professionals to guide employees in bridging these gaps to advance their careers.Perez stressed the need for individuals to acknowledge their skill deficiencies, stating, “just because one is a really good ‘x’ doesn’t mean they’re going to be a really good ‘y.’ The gap between where...