AGs Sue FinCEN over Beneficial Ownership Reporting 

A coalition of 21 Democratic state attorneys general have filed a lawsuit to reverse the Trump administration’s decision to scale back the scope of beneficial ownership information reporting requirements. North Carolina Attorney General Jeff Jackson is one of the attorney generals involved in the litigation.

Gaps in Information Security

The Federal Reserve and CFPB have both failed to make needed updates to their information security programs, which are not effective, the Fed Office of Inspector General concluded in two recent reports. 

Banking Advocacy and GR in 2027

The NCBA Government Relations team is reviewing the election results and their potential implications for North Carolina's banking industry. A committee meeting will be scheduled to discuss the changing political landscape and review several legislative proposals being developed for possible introduction and consideration during the upcoming session.

Skyline National Bank Celebrates Grand Opening of New Dobson Branch

Skyline National Bank celebrated the grand opening of its new branch in Dobson, North Carolina, on Friday, October 16, marking another milestone in the bank’s continued growth and commitment to serving local communities.

Originally chartered as Grayson County National Bank in 1900, the Independence, Virginia-based institution has grown to $1.3 billion in assets and now operates 11 branches across North Carolina.

Led by President and CEO Blake Edwards, Skyline National Bank continues to build on more than 125 years of community banking tradition while expanding its presence in the Tar Heel State.

First Bank Launches Annual Food Drive to Fight Hunger Across the Carolinas

First Bank is helping fight food insecurity across the Carolinas through its annual Power of Good Food Drive. Throughout November, the bank is collecting nonperishable food items and monetary donations at its branches and offices, partnering with Second Harvest Food Bank to support local food pantries and families in need.

Since 2024, the initiative has collected more than 68,000 pounds of food, along with thousands of dollars in donations. The campaign reflects First Bank's continued commitment to strengthening the communities it serves.

Truist Supports Charlotte Families With $450,000 Grant and Community Service Initiative

Truist is strengthening its commitment to the Charlotte community with a $450,000 grant from the Truist Charitable Fund to support A Home for All, an initiative addressing homelessness and housing instability in Mecklenburg County.

As part of its Wrapping Charlotte in Care service day, approximately 100 volunteers from Truist and community organizations came together to serve meals, assemble care kits, distribute approximately 1,000 pairs of shoes, and provide assistance to families experiencing housing insecurity.

The initiative highlights Truist's ongoing efforts to create meaningful change through charitable giving and hands-on community engagement.

Bank Use of AI

The OCC has issued a framework for its bank examination workforce on banks’ use of artificial intelligence / super intelligence. The issuance is intended to provide OCC bank examiners with a supervisory framework to evaluate banks’ use in normal course business activities and banks’ associated risks and controls.

While OCC bank examiners may also use the framework to identify specific considerations, the issuance clarifies that examiners should not treat AI/SI as a separate and distinct risk category, and banks should not be required to define a separate AI/SI risk appetite. The OCC intends to update the framework regularly.

Changes to FOMC Voting Schedule

Starting next year, the Federal Open Market Committee will hold one less vote annually to set monetary policy according to Federal Reserve Chairman Kevin Warsh. 

Deposit Insurance Recordkeeping Requirements

The FDIC has proposed to eliminate a regulation requiring large banks to maintain certain recordkeeping systems for deposit insurance purposes. 

FinCEN Guidance 

FinCEN has issued an alert on identifying and reporting suspicious activity tied to cross-border payments and a notice for financial institutions about exploitation of charities.

In related news, FinCEN announced that 

the Financial Action Task Force has updated its lists of jurisdictions with strategic deficiencies in countering anti-money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction. 

Fed Survey Finds Weaker Demand for Commercial Real Estate Loans in Q3

During the third quarter, banks reported that lending standards for commercial and industrial loans to large and middle-market firms were basically unchanged, while standards tightened for C&I loans to small firms, according to the Federal Reserve’s latest senior loan officer opinion survey.

Banks also reported tighter standards and weaker demand for all commercial real estate loans. 

ABA Offers Free Resources to Help Banks Fight Fraud

The American Bankers Association is encouraging banks nationwide to join its 2026 fraud prevention campaigns, #BanksNeverAskThat and #PracticeSafeChecks, to help consumers recognize scams and protect their finances.

Participating banks receive free access to ready-to-use educational materials, including social media graphics, videos, printable flyers and other resources designed to raise awareness of phishing schemes and check fraud. Materials are available in both English and Spanish, and participation is open to all banks and state banking association members, regardless of ABA membership.

Banks can register and access campaign resources through ABA's Fight Fraud website.

Need Credits? Earn CRCM, CPE, SHRM and More!

Looking to skill up? 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:

Colony Bankcorp Completes Merger With First Reliance Bank

Georgia-based Colony Bankcorp completed its merger with Florence, South Carolina-based First Reliance Bancshares, creating a Southeastern banking organization with approximately $5 billion in assets.

First Community Bankshares Announces $243 Million Acquisition

Virginia-based First Community Bankshares, which operates branches in North Carolina, announced its acquisition of Main Street Financial Services. The transaction would create a banking organization with approximately $5.2 billion in assets.

"The world breaks every one, and afterward, many are strong at the broken places."

- Ernest Hemingway