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May 14, 2025

Legislation intended to reduce credit card interchange fees would reduce revenue for community banks and credit unions, leading to less access to credit and disproportionately harming low-income households, according to a recently published academic report.
The Credit Card Competition Act by Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.) would impose new network routing mandates on financial institutions that issue credit cards. A research note by Indraneel Chakraborty, chair of the finance department at the University of Miami, said the CCCA gives the largest merchants significantly more bargaining power when negotiating their interchange fees at the expense of community banks.
At the same time, several states have proposed exempting sales taxes and tips from interchange fees on credit cards, which also fall hardest on community banks, he writes. (The American Bankers Association is among the plaintiffs in a lawsuit challenging an Illinois law banning banks and other entities from charging or receiving interchange fees on the portion of a debit or credit card transaction attributable to tax or gratuity.)
“We estimate that such an exemption would reduce revenue for community banks and credit unions by nearly $1.6 billion per annum,” Chakraborty writes. “This is because economists estimate that a nationwide implementation of such an exemption would reduce total revenue by roughly $10.5 billion, and community banks and credit unions have a 15% share of the consumer lending market.”
The loss of revenue to smaller financial institutions “means that the loss of credit from laws intended to reduce interchange fees will disproportionately affect the availability of credit in these communities and lead to a more rapid consolidation in the banking market,” he writes.
ABA Banking Journal: Acting Comptroller Hood outlines OCC priorities
May 13, 2025 
In a speech last week, Acting Comptroller Rodney Hood outlined his top priorities for the Office of the Comptroller of the Currency, including efforts to promote financial inclusion and expand the banks’ ability to provide cryptocurrency services.
In his remarks, Hood said he is focused on four policy areas: Reducing regulatory burden, embracing bank-fintech relationships, expanding responsible bank activities involving digital assets, and financial inclusion. He called the latter “the civil rights issue of our time.”
“Consider the 40% of American households that cannot cover a $400 emergency expense, or the nearly 70 million individuals in the U.S. who are credit invisible,” Hood said. “Without access to fair and affordable financial services, they remain vulnerable to predatory lenders, to economic shocks, and to exclusion from opportunity.”
Hood noted that the OCC in 2020 launched Project REACh — or the Roundtable for Economic Access and Change — which convenes leaders from banking, business, technology and community organizations to identify and reduce barriers that prevent underserved communities from fully participating in the economy. That work continues through expanding the availability of credit and promoting affordable housing, he said.
Hood also spoke about efforts to ensure that crypto activities occur within the federal banking system according to a safe and sound framework. “The OCC recently reaffirmed that a range of cryptocurrency activities are permissible by the institutions we supervise,” he said. “We expect banks to have the same strong risk management controls in place to support novel bank activities as they do for traditional ones.”
Full Article
ABA Banking Journal: CFPB rescinds dozens of guidance documents
May 9, 2025
The Consumer Financial Protection Bureau is rescinding dozens of guidance documents as part of a directive by President Trump to reduce regulation. The rescinded guidance covers topics such as fair lending, overdraft fees, disclosure policies and consumer information requests to large banks and credit unions.
“The CFPB has issued non-binding policy guidance in myriad forms over its history… In many instances, this guidance has adopted interpretations that are inconsistent with the statutory text and impose compliance burdens on regulated parties outside of the strictures of notice-and-comment rulemaking,” CFPB Acting Director Russ Vought said in the order to rescind the guidance.
Among the rescinded guidance:
- A 2023 policy statement on how the CFPB determines abusive acts or practices.
- A 2022 interpretive rule describing states’ authorities to pursue companies and individuals that violate federal consumer financial protection law.
- A 2024 circular on whether unlawful or unenforceable terms and conditions in contracts for consumer financial products and services violate the prohibition on deceptive acts or practices in the Consumer Financial Protection Act.
- A 2024 advisory opinion to remind debt collectors of their obligation to comply with the Fair Debt Collection Practices Act in the collection of medical debt.
- A 2023 advisory opinion reminding large banks and credit unions to comply “in a timely manner” to customer requests for information about their accounts.
- Two circulars on the legality of unanticipated overdraft fee assessment practices and “improper” overdraft opt-in practices.
In a statement, American Bankers Association President and CEO Rob Nichols said the association has long expressed concern about the CFPB’s issuance of “guidance” to advance its regulatory policy agenda, so it welcomed the announcement that the bureau is rescinding a substantial amount of that guidance.
“While banks welcome guidance that helps them understand and comply with the law, too often in the past the CFPB has characterized something as guidance that is actually a rule Congress requires to go through the notice-and-comment process,” Nichols said. “In the most egregious cases, the guidance announces expectations that exceed the CFPB’s statutory authority.”
Full Article
CISA News: Sioux Falls banker saves woman from Bitcoin scam
SIOUX FALLS, S.D. (KELO) – About a month and a half ago First Bank & Trust retail banker Ethan Gette spotted something strange when he saw a woman inside the Circle K on West 57th Street.
“I noticed somebody at the Bitcoin machine and they were on the phone, the second thing I noticed was they were holding a wad of hundred dollar bills, and that had bad news written all over it,” Gette said. Gette regularly helps protect customers from losing money to criminals during this work day, and knew he had to step in.
“They would have lost $25,000 total, and I believe I stopped them at $11,000. Unfortunately, with these Bitcoin machines once the money’s in there you can’t get it out,” Gette said. Gette says the victim told him someone posing as law enforcement contacted her over email saying she owed money for missing jury duty, and would go to jail if she didn’t comply.
Sam Clemens with the Sioux Falls Police Department says scams involving city officials are common, and that the best way to protect yourself is being educated.
“Law enforcement never takes payment from cyber currency. We never take payment from re-loadable credit cards or gift cards and so those are kind of the big things,” Clemens said. “If somebody who says you need to pay this money now or you’re going to go to jail, that should be a red flag.” As police say tracking down that money after its sent is nearly impossible.
“We do what we can to investigate it. It’s pretty difficult. The scammers are unfortunately very good at what they do,” Clemens said.
“If you second guess even the slightest thing when someone’s requesting money, or to do something financially, talk to your banker. Your banker is the No. 1 source for any decision making for moving money around,” Gette said.
KELOLAND News went back to that same gas station on Friday and found a warning sign posted on the Bitcoin kiosk to prevent future victims. Gette says that sign wasn’t there about a month ago. Sioux Falls Police also encourage people to contact the city directly to verify any charges or fines they might have.

GSBC Annual School Session
July 13-25, 2025 | University of Colorado Boulder

At GSBC’s Annual School Session, students gain practical takeaways they can apply immediately at their institutions, while engaging in a powerful Peer Group Program and networking with community banking professionals from across the country. The program’s peer-focused projects and innovative course offerings are designed to accelerate both personal and professional growth, ensuring students leave better equipped to lead in today’s evolving banking landscape.
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Banking Forward: Fall Forum 2025

We're launching a new Banking Fall Forum to bring together a select group of peers for meaningful conversation, collaboration, and connection. As the industry continues to evolve, it's more important than ever to share insights, discuss challenges, and explore opportunities in a focused, peer-driven setting. This event is designed to foster deeper relationships and generate actionable ideas through candid dialogue in a relaxed, small-group environment.
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2025 Quad States Convention
EARLY BIRD RATE ENDS MAY 16!

Big Ideas + Bold Bankers = The Big Bank Theory!
Don’t forget to REGISTER for The Big Bank Theory Quad States Convention, happening June 8-10 in Rapid City, SD. We'll be mixing science, strategy, and just the right amount of fun at this year's gathering!
Hotels are filling fast - - be sure to book your room(s) TODAY!
2025 Fraud Academy
August 12-14, 2025 | Lexington, KY or Virtual

Fraud Academy is a pioneering initiative designed to arm bankers with the skills needed to detect and combat fraud. Our unique program features insights from experts across the DEA, FBI, the Secret Service, law enforcement, AARP, and the financial industry, offering a robust education in fraud prevention from those who know it best.
With fraud costing every bank valuable time and money, our curriculum targets over eighteen types of fraud, including check fraud, elder fraud, cybercrimes, and introduces effective prevention tools. Equipping bankers with the knowledge to minimize fraud-related losses and protect your institution's bottom line. This two-and-a-half-day school will take a deep dive into the types of fraud most affecting financial institutions.
Information & Registration
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