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From Farce to Menace

Independent Banker

Talk about your captive regulator! Last month the NCUA’s sweeping, 167-page proposal to hand federal credit unions virtually unlimited freedom to serve almost any person of any means anywhere rightly drew an avalanche of letters from infuriated community bankers. When credit unions say “jump,” the NCUA says, “how high?”.

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Washington Watch

Independent Banker

That is why we are calling on regulators to make the most of the latest mandatory review of federal banking rules. The agencies are required to study their regulations for dead weight every 10 years under the Economic Growth and Regulatory Paperwork Reduction Act of 1996. Community Bankers Chosen as CFPB Advisors.

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CFPB holds field hearing on proposed rules for prepaid accounts

CFPB Monitor

Yesterday I attended the Consumer Financial Protection Bureau’s (CFPB) field hearing in Wilmington, Delaware, at which the CFPB unveiled and accepted public comment on its long-awaited proposed rule for prepaid accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth In Lending Act (Regulation Z) (the Rule).

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Finance in motion— $1B moved for $0.02

Lex Sokolin

fee on Binance, $600M of Tether printed, $200M in DeFi lending This is what it looks like, this change in the atmosphere, the fireflies all lighting up as the night comes in. Ethereum has the best developer community still, and there are things you can actually do with digital assets on this chain. We are here. We are in it.

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Hundreds comment on OCC proposed “true lender” rule

CFPB Monitor

The Independent Community Bankers of America, a trade association representing community banks, endorses the clear, unambiguous standard set forth in the Proposed Rule. According to Avant, this would promote credit availability while deterring abusive lending programs.

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