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| | Preserving Federal Reserve Independence |
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| | On Sunday, Fed Chairman Jerome Powell announced that the Department of Justice has launched an investigation into his testimony before Congress about cost overruns of renovations at the Fed’s headquarters in D.C. |
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| | “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President," said Powell. "This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions – or whether instead monetary policy will be directed by political pressure or intimidation." |
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| | The leaders of the European Central Bank, the Bank of England, the Bank of Canada and eight other institutions defended Powell, saying he has acted with integrity and that central bank independence is crucial for keeping prices and financial markets stable. |
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| | Markup of Stablecoin Bill Postponed |
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| | Late Wednesday, the Senate Banking Committee postponed its January 15 meeting, where it had planned to consider H.R. 3633, the Digital Asset Market Clarity Act of 2025. While last year’s GENIUS Act established a framework for stablecoins – covering reserves, licensing, and consumer protections – the new market‑structure bill would define digital asset categories, clarify SEC/CFTC jurisdiction, and set trading rules. |
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| | | President Trump has proposed a one-year cap of 10% on credit card interest rates. Senate Majority Leader John Thune and Speaker Mike Johnson have voiced skepticism. | | “I think that would probably deprive an awful lot of people of access to credit around the country,” Thune told reporters. “Credit cards would probably become debit cards.” |
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| 🚨 Action Alert: Close the Stablecoin Interest Loophole |
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| | We’re teaming up with banking leaders across the country to protect the integrity of our markets. We need North Carolina’s Senators to close the stablecoin interest loophole before the upcoming Senate Banking Committee meeting. | | Use this form to send a short letter to your representative. It’s fast, it’s automated, and it makes a difference. |
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 | REGISTRATION IS NOW OPEN!
March 3-4, 2026 | UNC Charlotte Marriott |
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| NC Business Community Gathers for the 2026 Economic Forecast Forum |
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| | The North Carolina Bankers Association and the North Carolina Chamber hosted the 2026 Economic Forecast Forum on January 12, bringing together banking, business, and policy leaders to examine economic conditions shaping North Carolina and the broader U.S. economy. The annual forum provided a forward-looking assessment of growth, risk, and resilience as organizations plan for the year ahead. |
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| | | A key highlight was a discussion with former U.S. Rep. Patrick McHenry, who offered candid reflections on federal policymaking and its downstream effects on financial institutions and markets. Tom Barkin, President and CEO of the Federal Reserve Bank of Richmond, also shared his perspective on inflation, monetary policy, and economic signals emerging as 2026 begins. |
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| | | Throughout the program, speakers emphasized the importance of disciplined planning amid continued uncertainty, noting that while North Carolina’s economy remains fundamentally strong, pressures tied to costs, workforce dynamics, and capital availability warrant close attention. For bankers, the forum reinforced the sector’s role in supporting businesses, communities, and long-term economic stability across the state. | | Thank you to all of the attendees, speakers and sponsors! |
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| Federal Legislative & Regulatory Update |
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| | Citing a court order, CFPB Acting Director Russell Vought has requested $145 million from the Federal Reserve to fund the bureau through at least March. The action came a month after a judge rejected the Trump administration's argument that it was legally barred from drawing funds when the Fed is operating at a loss. |
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| Revamping Community Bank Regulation |
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| | Republicans on the House Financial Services Committee have unveiled a new bill they say will boost community banking by promoting de novo bank formation, raising regulatory thresholds and revising agency regulatory and supervisory practices. |
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| Debit Card Interchange Fee Ruling |
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| | A recent court ruling imposing a new interpretation of the Federal Reserve’s standard for setting debit card interchange fees would be “extraordinarily harmful and needlessly disruptive to the diverse set of stakeholders in the debit card market — including consumers and merchants,” ABA and a group of banking trade associations said as part of a court filing. |
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| The case was brought by a group of North Dakota retailer trade associations and truck stop Corner Post, who alleged the Fed exceeded its statutory authority to set interchange fees that are “reasonable and proportional to the cost incurred by the issuer with respect to the transaction.” | | U.S. District Court Judge Daniel Traynor sided with the plaintiffs in a ruling last year. |
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| OCC Clarifies Chartering Rules for National Trust Institutions |
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| | The OCC is proposing to amend its chartering regulations to clarify that national banks limited to the operations of trust companies may engage in nonfiduciary activities. |
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| FCC Extends Effective Date of Rule |
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| | The FCC has issued an order extending the effective date of its “revoke all” rule from April 11, 2026, to January 31, 2027. Under the revoke all rule, a bank or other business is required to treat a consumer’s revocation of consent to receive one type of call or message as a revocation of all consented-to calls and messages. |
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| The FCC signaled that may further modify the requirement, and therefore good cause exists and the public interest is served by extending the effective date. |
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| Consideration of Immigration Status |
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| | The CFPB and the DOJ have withdrawn a joint statement issued in October 2023 about the implications of a creditor considering an individual's immigration status under the Equal Credit Opportunity Act. | | They noted: |
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| “Nothing in ECOA or Regulation B prohibits the consideration of an applicant's immigration or citizen status. To the contrary, Regulation B permits the consideration of ‘any information obtained, so long as the information is not used to discriminate against an applicant on a prohibited basis.’” |
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Regulatory Update:
Agencies Propose Reducing the Community Bank Leverage Ratio |
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| | The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation, and the Federal Reserve Board (collectively, the “Agencies”) have jointly issued a Notice of Proposed Rulemaking (NPR) that, if finalized as proposed, could provide significant regulatory relief for community banks. The proposal seeks to lower the Community Bank Leverage Ratio (CBLR), which is a measure of the ratio of an institution’s tangible equity capital to its average total consolidated assets, from 9% to 8% for qualifying institutions and extend the grace period for non-compliance. |
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| 2026 Banking Benefits and Human Resources Policies Survey |
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| | In partnership with Pearl Meyer, we are pleased to announce that the 2026 Banking Benefits and Human Resources Policies Survey is open for participation. This survey is published every other year. If you did not receive your participation email, please contact Rhonda Snyder at rhonda.snyder@pearlmeyer.com. | | This survey covers the following topics: |
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 | Survey Effective Date: January 1, 2026
Submission Due Date: March 6, 2026
Survey Results Published: Week of May 11, 2026
Survey Cost: $750 for participants |
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- PTO programs, vacation, sick days, holidays, etc.
- Health (medical, dental, vision) and wellness plans
- Flexible spending accounts
- Short and long-term disability benefits
- Life insurance
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- Retirement plans (401(k), ESOP, defined benefit plans, etc.)
- Work life benefits
- Retiree benefits
- Payroll and organization costs
- Work from home practices
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| As in prior years, the survey will include a designated section to collect and report information on “Bank Executive” Benefits and Perquisites. | | Please note: Only participants who complete the Bank Executive Benefits & Perquisites Section will have access to this portion of the survey report. | | To make your survey submission process easier, those who participated in the 2024 Banking Benefits and Human Resources Policies Survey will be provided access to a printable version of their 2024 survey responses. |
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| Need Credits? Earn CRCM, CPE, SHRM and More! |
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| | Looking to skill up? For a limited time, North Carolina Bankers Association is making it easier than ever to invest in your professional growth. Sign up for one of the upcoming webinars from our partnered providers: |
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| Private Credit Shaking Up the Banking Landscape |
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| | The competitive landscape for banks and private markets is rapidly evolving. Private credit firms have surged past traditional banks in commercial lending, offering bespoke solutions and tapping into new opportunities. The 2026 Banks & Private Markets Outlook report from S&P Global outlines market share shifts, partnership models, regulatory scrutiny, and the risks and rewards of this new era, helping financial leaders make confident decisions. |
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| Federal Reserve Approves Fifth Third–Comerica Merger |
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| | The Federal Reserve has approved Fifth Third Bancorp’s application to acquire Comerica. The action follows approval by shareholders in votes held last week and prior approvals by the OCC and the Texas Department of Banking. Commenting on the combination, Tim Spence, chairman, CEO and president of Fifth Third said, “Together we’ll form the ninth largest US bank with $290 billion in assets and a footprint spanning 17 of the 20 fastest-growing large markets in the U.S." |
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| TowneBank Completes Merger with Dogwood State Bank |
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| | TowneBank has completed its merger with Dogwood State Bank, expanding its presence across key North Carolina markets. Dogwood branches will operate as a division of TowneBank until late 2026. Former Dogwood CEO Steven W. Jones will continue with the combined institution and has been named President of the Carolinas. Jones will also serve as a member of the TowneBank Corporate Management Group. With the acquisition, TowneBank has more than 70 locations across Central and Eastern Virginia, North Carolina and South Carolina, as well as $22 billion in assets. |
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| KS Trust and Wealth Management Rebrands as Kestrel Wealth Management |
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| | KS Trust and Wealth Management has rebranded as Kestrel Wealth Management as it grows in the financial services sector. The company remains a division of KS Bank. “Kestrel Wealth Management aims to create a more distinct presence in the wealth management industry, offering a wide range of services to both new and existing clients,” said Earl W. Worley, president and CEO of KS Bank. |
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| Individual commitment to a group effort—
that is what makes a team work, a company work, society work, civilization work. |
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| NC Bankers Association | 3601 Haworth Drive | Raleigh | NC | 27609 | US |
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| | If you no longer want to receive emails regarding the NCBankers Bulletin, please profile. |
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