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Representatives Harrigan, Edwards, and Foushee Cosponsor “SCAM Act” | | One of the most critically important bills this session in Congress is the “Safeguarding Consumers from Advertising Misconduct Act” or the “SCAM Act”. The bill as filed in the House is H.R. 7548 and the Senate version is S. 3774. Members of the North Carolina delegation are taking a leading role in supporting and advancing this legislation. | | | | |
We would like to recognize the current cosponsors from North Carolina: Pat Harrigan (cosponsored on 3/25), Chuck Edwards (4/14), and Valerie Foushee (4/14). | |
With digital fraud becoming increasingly sophisticated, the bill would strengthen consumer protection by placing reasonable responsibilities on the online platforms that create, distribute, and profit from paid advertisements.
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Fed Chair Nomination Process | The Senate Banking Committee will hold a hearing on April 21 on the nomination of Kevin Warsh to become the next chairman of the Federal Reserve. | In related news, President Trump has suggested that he will fire Fed Chair Jerome Powell if he doesn’t step down “on time,” and the President indicated that his administration will not drop its criminal probe into renovations at the Fed’s headquarters. | | The Federal Reserve has proposed a new rule to let banks use intermediaries to send transfers through the FedNow payments service, which would allow for cross-border payments. | The changes would align FedNow with the Fedwire Funds Service, which allows intermediaries. | | | | |
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NCBA Hosts Ribbon Cutting for Cutting-Edge Learning Center | | The North Carolina Bankers Association hosted a ribbon-cutting reception Tuesday, April 14, to celebrate its new Learning Center. The event brought together bankers, partners, and supporters for an afternoon focused on the future of training and workforce development in North Carolina’s banking industry. | | During the reception, guests had the opportunity to tour the new space and hear about upcoming programs that will be hosted there, including NCBA’s first BankWork$ cohort launching next month. Attendees also got a sneak peek at NCBA’s new podcast studio — with more on that to come. The Learning Center will serve as a hub for education, professional development, and workforce training, helping strengthen the pipeline of talent entering the industry. | | NCBA extends its sincere thanks to everyone who joined us to mark this special occasion and to those who helped make the event possible. We are grateful for the support and enthusiasm surrounding this exciting new chapter and look forward to the many opportunities the Learning Center will create in the months and years ahead. | | | | |
Skyline National Bank Named Community Bank of the Year by NC Rural Center | Skyline National Bank was recently recognized as Community Bank of the Year at the NC Rural Center’s 2026 Rural Summit in Raleigh. | The annual summit brings together leaders from across North Carolina to focus on strengthening rural communities through economic development, infrastructure investment, and small business support. Skyline said the recognition reflects its ongoing commitment to supporting small businesses and helping sustain the communities it serves. The bank also highlighted its partnership with the North Carolina Rural Center through the organization’s Loan Participation Program. | | L-to-R: James Young, West Jefferson Area Executive; Blake Edwards, President and CEO; and Anthony Edwards, Senior Credit Risk Officer. | | | | |
KS Bank Announces Expansion into Lillington | KS Bank is expanding its community-focused brand of banking to Lillington, NC. The bank recently purchased property at 709 W. Front Street in Lillington, where it intends to operate the new branch. KS Bank has received regulatory approval from the Federal Deposit Insurance Corporation and is pending approval from the North Carolina Commissioner of Banks to operate the new branch. | | | | | |
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Federal Legislative &
Regulatory Update⚖️ | | FDIC Rescinds Financial Institution Letter | The FDIC has rescinded a 2023 financial institution letter which stated that charging representment nonsufficient funds fees may be a deceptive or unfair practice under section 5 of the Federal Trade Commission Act. | | | | | |
Webinar on Bank Capital Requirements | The federal banking regulators will hold a webinar on May 5 on proposed revisions to bank capital requirements. Registration is required. | | | | | |
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Stablecoin Interest Payments | A prohibition on paying interest or yield on payment stablecoins would do “very little” to protect bank lending “while forgoing the consumer benefits of competitive returns on stablecoin holdings,” according to a report by the White House Council of Economic Advisors. | In response, the ABA said: | | | "[the real focus should be on] whether allowing yield on payment stablecoins would encourage deposit flight — especially from community banks — thus raising banks’ funding costs and reducing local lending. By focusing on the effects of a prohibition, the CEA paper risks creating a misleading sense of safety by avoiding the much more consequential scenario: yield-paying payment stablecoins scaling quickly.” | | | | |
AML Requirements for Stablecoin Issuers | FinCEN and OFAC have proposed a new rule for payment stablecoin issuers to establish BSA compliance obligations, including filing suspicious activity reports, recordkeeping requirements, and conducting due diligence. Payment stablecoin issuers would also need to maintain an effective sanctions compliance program. | | | | | |
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The Cybersecurity and Infrastructure Security Agency has issued an advisory, warning critical infrastructure to be on heightened alert for cyberattacks related to the Iranian conflict. | | | | | |
Cracking Down on Scam Calls | The FCC is seeking to impose stronger know your customer requirements on voice service providers that originate calls, as part of an initiative to crack down on illegal scam calls. The FCC is scheduled to vote at its April 30 meeting on whether to issue its draft proposal. | | | | | |
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Nearly four in 10 U.S. adults say they have been victims of fraud, while many more say they worry about becoming victims, according to a recent survey by AARP. One in six respondents answer calls or respond to texts from unknown contacts, and roughly half download free apps and take online quizzes on social media that can expose personal data. | | | | | |
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Save the Date: NC Emerging Leaders Conference on Sept. 10-11, 2026 | |
We’re headed to Raleigh for the NC Emerging Leaders Conference, Sept. 10–11, at the Westin Raleigh-Durham Airport in Brier Creek.
This year’s conference will bring together emerging leaders from across North Carolina for timely conversations on leadership, personal branding, coaching, and the business of banking. Attendees will also have the opportunity to take part in Capitol visits and gain insight into the issues shaping our industry.
Save the date and stay tuned for more details!
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Need Credits? Earn CRCM, CPE, SHRM and More! | Looking to skill up? For a limited time, North Carolina Bankers Association is making it easier than ever to invest in your professional growth. Sign up for one of the upcoming webinars from our partnered providers: | | | | |
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Providence Bank Reports Results for 2Q26 | Ted E. Whitehurst, President and CEO of PB Financial Corporation (PBNC), the holding company for Providence Bank, reported net income available to common shareholders for the quarter ended March 31, 2026, of $5,556,894 compared to $4,700,394 for the same period in 2025, an increase of 18.22%. | | Ted Whitehurst, Providence Bank | | | | |
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"Clear is kind. Unclear is unkind."
- Brené Brown |
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