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 Current Issue of the "Arkansas Community Banker"

Final lending rule to narrow civil rights protections

The U.S. federal watchdog agency for consumer finance expects to finalize new regulations proposed in November ​that would narrow key civil-rights-era antidiscrimination requirements for ‌lenders, according to a government website.

The new policy from the Consumer Financial Protection Bureau would free banks and others from a decades-old requirement ​to prevent discriminatory impacts on women and minorities, instead ​focusing solely on preventing explicitly discriminatory conduct.

Representatives for ⁠both the Office of Management and Budget and the ​CFPB did not immediately respond to requests for comment on ​Tuesday.

The change makes good on an executive order issued a year ago, which said requiring companies to prevent "disparate impact" encourages favoritism ​and unfairly burdens companies.

The website of OMB, an arm ​of the administration's office also controlled by the CFPB's Acting Director Russell ‌Vought, ⁠showed on Tuesday that a final version of the regulation was now under review with "no material change" from November's proposed version.

It was unclear when the CFPB would be ready ​to adopt the ​new rule ⁠or whether OMB experts would recommend any changes.

The new rule comes over the objections of ​fair-lending and pro-consumer advocates who say such a ​change ⁠flies in the face of lawmakers' intent when they adopted the 1974 Equal Credit Opportunity Act and subsequent reforms. Industry ⁠groups, ​however, said they supported the proposal ​as it would free banks and others from unnecessary compliance burdens and legal ​liabilities.

Source: Reuters

ICBA, ACB, state groups urge FDIC to reconsider Edward Jones ILC application

ACB joined ICBA and 37 additional state banking associations urging the FDIC to reconsider its decision to approve Edward Jones’ deposit insurance application to form a Utah-chartered industrial loan company.

In the letter to the FDIC, the groups said Edward Jones' network of more than 16,000 physical locations across North America could function as de facto bank branches for deposit-gathering activities, allowing Edward Jones to siphon deposits away from community banks while avoiding regulatory requirements.

A loophole in the Bank Holding Company Act allows nonbank companies to own or acquire ILCs chartered in a handful of states without being subject to federal consolidated supervision, leaving a dangerous gap in safety and soundness oversight and introducing unnecessary systemic risk into the banking system.

Source: ICBA

An article from Travelers




5 Cyber Readiness Practices to Boost Your Cybersecurity

“The impact of cybercrimes like ransomware attacks, social engineering fraud and business email compromise make the implementation of robust cyber readiness practices essential for every organization.”

In this article by Travelers, an ACB Preferred Solutions Provider, they share their recommendation for boosting your cybersecurity by adopting a culture of protection starting with an assessment followed by implementing 5 cyber readiness practices: Multifactor Authentication (MFA); Keep systems up to date; Use endpoint detection and response (EDR); Have an incident response (IR) plan; and Back up your data. 

Click here to learn more.

Source: Travelers

Budget calls for CDFI Fund cuts


The 2027 federal budget proposal calls for cutting $204.5 million in discretionary awards from the Community Development Financial Institutions Fund.

The administration’s budget, a nonbinding recommendation to Congress, said the cuts will refocus CDFI Fund awards “to expand access to capital, finance infrastructure, and bolster Main Street business development in rural America.”

ICBA has persistently worked to ensure full funding for the CDFI Fund amid efforts to cut its resources, citing the important role of CDFIs in supporting economic development in rural and underserved communities.

Actions on CDFIs:

• The Consolidated Appropriations Act (H.R. 7148) signed into law in February allocates $324 million for the CDFI Fund this year, the same amount as 2025.
• Following advocacy from ICBA and other groups, members of Congress in December strongly supported CDFIs in budget discussions.
• More than 100 congressional Republicans last year pushed back on a decision to fire CDFI Fund employees during the government shutdown.
• The Treasury Department responded that all CDFI Fund reductions in force were rescinded as part of November's legislation reopening the government.
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Source: ICBA

Fannie Mae reduces lender requirements

Fannie Mae updated its Selling Guide to reduce lender quality control requirements.

Fanne Mae said that in response to lender feedback, it updated Subpart D1 to streamline lender QC reverification requirements by:

• Removing asset reverification when the information is not confirmable.
• Eliminating duplicative reverifications for automated data obtained through approved vendors.
• Limiting tax transcript requirements to loans qualified with tax returns.
• Removing reverification for discretionary reviews.
• Reinstating flexibility in prefunding QC by eliminating the fixed 10% minimum sampling requirement.
• Removing certain operational reporting (including self-reporting and reverification reporting).

Fannie Mae said lenders are encouraged to implement these changes immediately but must do so for all QC reviews conducted on or after July 1.

Source: Fannie Mae

Reg Z violations top list for 2025

The FDIC said the Truth in Lending Act and its implementing regulation, Regulation Z, topped the list of most frequently cited violations at the banks it supervises.

According to the FDIC’s Consumer Compliance Supervisory Highlights for 2025:

• TILA and Reg Z represented 462 violations.
• The Electronic Fund Transfer Act and its implementing regulation, Regulation E, represented 136 violations.
• The Flood Disaster Protection Act and its implementing regulation, 12 CFR Part 339, represented 131 violations.
• The Truth in Savings Act and its implementing regulation, Regulation DD, represented 74 violations.
• The Home Mortgage Disclosure Act and its implementing regulation, Regulation C, represented 72 violations.
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Source: FDIC

Community Banking Month marketing tools

ICBA’s Marketing Resource Center (MRC) features ready-to-use marketing tools for Community Banking Month and other April events.

The MRC’s Monthly Content Planner for April offers:

• Graphics, media pitches, op-eds, and a news release template for Community Banking Month.
• Social media graphics and a news release template for America Saves Week (April 6-10).
• A blog post, news release template, and social media graphics for Financial Literacy Month.
• Social media graphics for spring, Earth Day, and Tax Day.
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Community bankers can also sign up to be notified each month when new marketing content is available.

Source: ICBA

FDIC’s Hill, Treasury’s McKernan to speak at ICBA Capital Summit

FDIC Chairman Travis Hill and Treasury Department Under Secretary for Domestic Finance Jonathan McKernan are slated to speak at the ICBA Capital Summit, which kicks off later this month in the nation’s capital.

Set for April 29–May 1 at the Grand Hyatt Washington, the ICBA Capital Summit empowers community bankers to make their voices heard on Capitol Hill and ensures policymakers understand the vital role of community banks in driving growth and opportunity.

Community bankers can register, view the schedule, and access frequently asked questions on the ICBA Capital Summit site.

Source: ICBA

ICBA Capital Summit rescheduled for April 29–May 1


Adapting to the shifting environment in Washington, the ICBA Capital Summit is now scheduled for April 29 - May 1 at the Grand Hyatt Washington—a week earlier than previously planned and no longer at the Westin Washington, D.C. Downtown.

While this change could create planning challenges for community bankers already registered, ICBA encourages community bankers to consult their calendars and attend the event in the nation’s capital to ensure members of Congress hear directly from their community bank constituents. 

Learn more and register.  

Source: ICBA