ICBA is calling on community bankers to direct their customers to its new Consumer Alert webpage that informs consumers about the proposal and allows them to speak out in opposition with a custom message to Congress. #KeepMyBankingPrivate hubs.li/H0W3F9l0

The trend toward credit unions buying banks has accelerated. Here is what the Independent Community Bankers of America wants Congress to do about it. trib.al/DwO7f1e

⁦Independent Community Bankers of America⁩ ⁦Rebeca Romero Rainey⁩ “A bipartisan supermajority of Americans clearly opposes Washington’s plan for the IRS to monitor their bank account information, which Congress is now quickly advancing through a budget reconciliation package” americanbanker.com/news/banks-esc…

Have seen a few claims (including members of Congress) that the IRS bank reporting provision is in the bill. It's not. The $600 figure in the bill (page 1672) is backup withholding language relating to third-party payment networks like Venmo. Estimated revenue: $4 million.

I grew up in a family where presents are opened Christmas morning. I married into a family where presents are opened as soon as they arrive at the house.

Let's not rush into postal banking.

They Lost Major Coin—and Now the Tax Bill Is Due thedailybeast.com/these-crypto-i… via The Daily Beast

This is such an important insight from Jim Chanos, that in a boom, it's incredibly easy to mistake expanding credit conditions for some new breakthrough in lending that nobody had figured out before. bloomberg.com/news/articles/…

Central Bank Digital Currencies are not very interesting or useful, by Noah Smith 🐇🇺🇸🇺🇦🇹🇼 noahpinion.substack.com/p/central-bank…

#communitybanks know their #localbusinesses and do a better job of serving the #community during a crisis. "Community banks significantly outperform large banks in several key measures..." Weathering the COVID-19 storm: The case of community banks sciencedirect.com/science/articl…

Got this spam email…I find it quite ironic that my employer could invest in CU sub-debt and get CRA credit for doing so, while the actual CU we’d be investing in is not subject to CRA at all! What’s to stop a LICU from redlining the poor in its FOM? I think we’ll pass, David!

With the Federal Reserve's interest rate hikes hastening the normalization of deposits, FDIC should quickly draw down its assessment rate increase to avoid needlessly elevating bank costs at a time of economic uncertainty. Brad Bolton via American Banker: americanbanker.com/opinion/fdic-s…

Standing ovation for Scalise as well.

See also: Tax-exempt credit unions.

See also: Tax-exempt (or subsidized) credit unions.

As credit unions increasingly exploit their federal tax exemption to acquire tax-paying community banks, the need for policymakers to close this loophole is urgent. Action is needed NOW to preserve community banks and the communities that depend on them, ensuring the continued

NCUA Chair Todd Harper is right here—credit unions should focus on serving their members, not leveraging their tax exemption to slap their names on stadiums. Credit unions acting like the nation’s biggest banks should be taxed and regulated like them. marketwatch.com/story/why-are-…

D.O.G.E should look at the "inefficient" (not to mention anti-competitive) tax subsidy given to credit unions, which duplicate services provided by tax-paying community banks.

Governor Miki Bowman would be an exceptional Vice Chair of Supervision.

🚨 The House Ways and Means Committee on Friday night released a partial version of the new tax bill. I reviewed it all and the changes are significant. Here’s everything you need to know: