@ThomasICBA profile picture
Thomas Warren @ThomasICBA

Managing Editor at @ICBA. Community bank advocate, writer, editor, strategist. @Mizzou journalism, @JohnsHopkins MA/MBA. Opinions are my own.

Joined July 2009
  • Tweets 2,276
  • Following 1,955
  • Followers 1,602
77 Photos and videos
.@ICBA’s @romerorainey and @Alice_P_Frazier advocate tiered regulations to support #communitybanks and #smallbusiness during @FinancialCmte and @HouseSmallBiz hearings today.
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The @FHFA's regulatory crackdown on the #FHLBanks threatens the housing finance system at a time of high prices and limited supply, @ICBA's @romerorainey writes in @AmerBanker @BankThink. americanbanker.com/opinion/d… #housing #housingfinance #communitybanks

Don't fix what isn't broken at the Federal Home Loan banks

The Home Loan banks have been a stable source of community bank funding for generations. An unnecessary regulatory crackdown now puts that reliability in question.

americanbanker.com
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"Members of Congress and the American public should ask why a small #creditunion is spending millions of dollars to act like a big bank... Shouldn’t #creditunions that act like big banks be regulated like big banks?" #SomethingIsWrong #TaxCreditUnions
Independent Community Bankers of America
@ICBA
2 Oct 2024
We agree: Congress should ask why #creditunions that act like the nation’s largest banks—such as by paying millions of dollars per year for stadium naming rights—continue to enjoy anachronistic tax and regulatory exemptions. #SomethingIsWrong marketwatch.com/story/why-ar…
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Thomas Warren retweeted
Rebeca Romero Rainey
@romerorainey
14 Aug 2024
Today's op-ed from a former #CreditUnion executive spotlights everything wrong with CU policy: “We weakened community banks and their capacity to meet the credit needs of our communities. Now…credit unions are gobbling up banks at a record pace.” americanbanker.com/credituni…

Confessions of a credit union executive turned community banker

The dark secret about credit unions is that while rules have changed to allow them to make more commercial loans, their ability to underwrite those loans at scale is lacking. When the credit cycle...

americanbanker.com
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Excellent op-ed illustrating the failings of the #creditunion industry's tax and regulatory exemptions. More on how taxpayers are subsidizing CU acquisitions of taxpaying community banks in @ICBA's recent op-ed here: americanbanker.com/opinion/s… #WakeUp #SomethingsWrong

Stop letting credit unions buy community banks

Congress needs to take immediate action to reform policies that foster this trend and ultimately subsidize banking consolidation on Main Street, writes Rebeca Romero Rainey, president and CEO of the...

americanbanker.com
BankThink@BankThink
14 Aug 2024
A former credit union executive turned community bank CEO says that his old industry is making risky commercial loans. When the credit cycle turns, there’s going to be a reckoning, writes Clint Walters, of First Security Bank, in @AmerBanker @BankThink.bit.ly/3yE5Q4u
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An ICBA study found 80% of community bank respondents said the CFPB’s 1071 rule would inhibit their small-biz lending while nearly half of business owners said they would look for another lender that did not ask for the information the rule requires. icba.org/newsroom/news-and-a…

ICBA Study: While 95% of Small-Business Owners Are Satisfied with Community Banks, Regulations...

Washington, D.C. (June 10, 2024) — As community banks and small businesses face increasingly burdensome and complex federal regulations, the Independent Community Bankers of America (ICBA) today...

icba.org
Independent Community Bankers of America
@ICBA
14 Jun 2024
This week @SenKatieBritt raised questions about the cost burden of the CFPB's 1071 rule, which requires bank reporting on credit applicants’ race and gender. Nearly half of small-biz owners say they'll look for a lender that doesn't request such info. youtube.com/live/EcBBd-90Wv4…
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Consumers can urge Congress to #WakeUp to the fact that #SomethingsWrong with #CUregulation via this custom message to lawmakers: creditunionquestions.com/

Rebeca Romero Rainey
@romerorainey
1 May 2024
With news of yet another bank acquisition by a tax-subsidized credit union, community bankers in Washington for #ICBASummit stand together in calling on Congress to address this troubling trend. Congress must investigate the nation’s outdated credit union policies and whether the government should continue subsidizing acquisitions of taxpaying community banks. icba.org/newsroom/news-and-a…
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Thomas Warren retweeted
Independent Community Bankers of America
@ICBA
5 Mar 2024
Customers are recognizing the difference and taking action to switch from big banks to #communitybanks. More evidence of the #banklocally movement gaining momentum from @WSJ: wsj.com/finance/banking/cust…

Why People Are Switching to Their Hometown Banks

Community banks and credit unions are outperforming the banking industry as customers push back against consolidation.

wsj.com
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Also today: @ICBA released polling that found 68% of adults say #creditunion customers should have the same consumer protections that banks provide, such as the #CommunityReinvestmentAct. #CreditUnions having a rough one--time for Congress to respond. icba.org/newsroom/news-and-a…

Poll: Americans Support Changing Policies Favoring Tax-Exempt Credit Unions

Washington, D.C. (March 4, 2024) — With representatives of tax-exempt credit unions meeting with members of Congress in Washington this week to pitch further expanding their taxpayer-subsidized...

icba.org
Independent Community Bankers of America
@ICBA
4 Mar 2024
“Former bank customers that are now #creditunion members may have less consumer financial protection oversight after the bank-to-credit union transaction,” according to a top @TheNCUA official who cited the agency’s lack of compliance exams. washingtoncudaily.substack.c…
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Acquisitions of tax-paying #communitybanks by tax-exempt and #CRA-exempt #creditunions without federal share insurance are bad for consumers. No wonder new @ICBA polling conducted by @MorningConsult shows Americans support #creditunion policy changes. icba.org/newsroom/news-and-a…

Poll: Americans Support Changing Policies Favoring Tax-Exempt Credit Unions

Washington, D.C. (March 4, 2024) — With representatives of tax-exempt credit unions meeting with members of Congress in Washington this week to pitch further expanding their taxpayer-subsidized...

icba.org
Independent Community Bankers of America
@ICBA
4 Mar 2024
One of the latest #creditunions to acquire a #communitybank is not only exempt from taxes and the #CommunityReinvestmentAct—its deposits aren’t federally insured. Consumers can urge Congress to hold a hearing on #creditunion policy here: creditunionquestions.com/
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.@ICBA last year urged @FinCENnews to maximize community bank flexibility under its #beneficialownership rules and to withdraw #BOI requirements for banks now that it is required to collect this info directly from reporting companies icba.org/docs/default-source…

Independent Community Bankers of America
@ICBA
14 Feb 2024
In our statement for today’s @FinancialCmte @FSCDems oversight hearing, we continued our call for @FinCENnews to withdraw bank #BeneficialOwnership reporting requirements now that it collects this info directly from reporting companies. icba.org/docs/default-source…
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Nacha reports #ACH Network payment volume rose 4.8% in 2023 on a 22.3% increase in #SameDayACH volume and 10.8% growth in #B2B payments.
Nacha@NachaOnline
14 Feb 2024
#DYK: In 2023, the ACH Network safely and securely handled 31.5 billion payments? Nacha is proud to govern the thriving ACH Network, helping millions of businesses and consumers move money between any U.S. bank & credit union in just hours! hubs.la/Q02l1sxc0
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In a statement for the @FinancialCmte @FSCDems oversight hearing starting now, @ICBA endorsed legislation from Chairman @PatrickMcHenry to coordinate @FinCENnews #AML rulemakings on beneficial ownership info. icba.org/docs/default-source…

House Committee on Financial Services - Democrats
@USHouseFSC
14 Feb 2024
#TODAY @ 10:00AM - RM @RepMaxineWaters leads Democrats as the full Cmte holds a hearing entitled “Oversight of the Financial Crimes Enforcement Network (#FinCEN) & the Office of Terrorism and Financial Intelligence (#TFI).” 💻: tinyurl.com/y6axc4j5 📻: tinyurl.com/ynczmw2v
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FinCEN says an increasing number of BSA reports tie #crypto to online child sexual exploitation and human trafficking.
Financial Crimes Enforcement Network (FinCEN)
@FinCENnews
13 Feb 2024
FinCEN analysis reflects an increase in Bank Secrecy Act reporting involving the use of convertible virtual currency for online child sexual exploitation and human trafficking. fincen.gov/news/news-release…
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A recent study found the @ICBA-opposed #DurbinMarshall bill to impose credit card routing restrictions would disproportionately benefit the nation’s largest businesses while putting #smallbiz at a competitive disadvantage. papers.ssrn.com/sol3/papers.… #DumpDurbinMarshall

Senate Judiciary Democrats 🇺🇸
@JudiciaryDems
12 Feb 2024
BREAKING: Senate Judiciary Committee to hold hearing on the need for more competition in the credit card market on April 9. Sen. Durbin calls on CEOs of Visa, Mastercard, United Airlines, American Airlines to testify.
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RT @FinCENnews: FinCEN Proposes Rule to Combat Illicit Finance and National Security Threats in Investment Adviser Sector t.co/LCUf…
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.@ICBA last month urged Congress to convene a hearing on #CUregulation given reports of lending disparities at Navy Federal, the #creditunion industry's #CRA exemption, and ongoing acquisitions of taxpaying #communitybanks by tax-exempt CUs. icba.org/advocacy/letter-det…

ICBA Letter Requesting a Hearing on Credit Unions

ICBA called on congressional committees to convene a hearing on credit union lending practices and oversight following reports of discriminatory lending at Navy Federal Credit Union.

icba.org
Independent Community Bankers of America
@ICBA
13 Feb 2024
Had Navy Federal Credit Union been subject to #CRA, it might have avoided disaster with reports of its discriminatory lending, according to a new @AmerBanker op-ed. #CUregulation americanbanker.com/opinion/c…
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The lack of @TheNCUA oversight of credit union service organizations was a key point in a recent @AtlantaFed report on credit unions' third-party risks and led to @ICBA-advocated legislation in the 117th Congress. atlantafed.org/blogs/take-on… #CUregulation

Independent Community Bankers of America
@ICBA
6 Feb 2024
.@TheNCUA Chairman Todd Harper says lack of CUSO oversight is "Achilles' heel" of #CUregulation. As we have testified, Congress should allow the agency to directly examine and regulate CUSOs and other third-party providers. ncua.gov/newsroom/speech/202…
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Thomas Warren retweeted
Independent Community Bankers of America
@ICBA
30 Jan 2024
Today’s @FHFA scorecard says nothing about ending the 15-year conservatorship that has subjected Fannie and Freddie to political influence. As @HaynieRon has written, the time has come to end what was intended to be a short-term timeout for the GSEs. icba.org/newsroom/blogs/main…

After 15 Years, the Federal Government Should End its Conservatorship of Fannie Mae and Freddie Mac

A lot has changed in the 15 years that Fannie Mae and Freddie Mac have been in federal conservatorship, including a restoration of the health of the mortgage market and the financial strength of...

icba.org
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.@ICBA expressed support for the @BIS_orgBasel Committee’s work to draft a regulatory framework for disclosing #crypto exposures in banking entities’ financial statements. icba.org/advocacy/letter-det…
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