A new kind of ‘community bank’ for small businesses

Kansas regulators closed Small Business Bank in Lenexa, Kansas, and appointed the FDIC as receiver. The Farmers State Bank of Oakley, Kansas, agreed to assume substantially all deposits and purchase certain assets.

The Texas Bankers Foundation has reopened its Flood Relief Fund to support Texas communities affected by the severe storms and flooding unfolding across the state.

The National Credit Union Administration should coordinate with the banking agencies to ensure that Genius Act implementation is substantially similar among all federal payment stablecoin regulators, the American Bankers Association and three other banking sector associations said.

In a new letter, ABA cited several concerns about the OCC’s recent revisions to its standards for designating minority deposit institutions, saying the changes create uncertainty for institutions seeking to qualify or maintain MDI designation.

The Federal Reserve, FDIC and OCC announced a “coordinated approach” for handling sensitive information used in bank examinations, including a new pledge to notify banks about data breaches that threaten to expose that information.

A proposed bill to tailor bank regulation and boost de novo bank formation would promote economic growth in communities across the country, ABA and 52 state bankers associations said in a joint letter to House leaders.