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| | National Survey: U.S. Consumers Rank Banks Above Other Industries for Fraud Protection |
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| | U.S. adults overwhelmingly trust banks more than any other entity to protect them from fraud, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. | | By a 5-to-1 margin over the next closest industry, consumers chose banks (45%) over non-bank fintech payment providers (9%), healthcare providers (7%), the government (7%), cryptocurrency companies (2%), major retailers (2%) and telecom companies (1%). | | The research, unveiled on the second day of ABA’s 2026 Washington Summit, also gauged consumers’ support for policy actions to combat fraud as well as bank satisfaction, the competitive landscape of the banking industry and the role banks play in the U.S. economy. |
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| | President Trump Nominates Warsh |
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| | President Trump has submitted to the Senate his nomination of Kevin Warsh to be the next chairman of the Federal Reserve. The President first announced Warsh as his nominee in January, but the formal nomination now makes it official. If confirmed, Warsh’s term as chairman would be for four years, but he would also be eligible to serve as a member of the Board of Governors of the Federal Reserve System for a term of fourteen years from February 1, 2026. |
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| | Main Street Capital Access Act |
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| | Before its brief recess for this week, the House Financial Services Committee advanced H.R. 6955, the Main Street Capital Access Act, to boost community banking by raising regulatory thresholds, revising agency supervisory practices, tailoring regulations, encouraging de novo banks and strengthening community development financial institutions. Rep. Tim Moore is an original cosponsor and Rep. Brad Knott is also a cosponsor. |
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| NCBA Joins Bankers in Washington for ABA Summit, Capitol Hill Meetings |
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| | North Carolina bankers joined industry leaders in Washington, D.C., March 9-11 for the American Bankers Association’s Washington Summit, where policymakers, regulators and banking leaders focused on the issues shaping the industry. Speakers included ABA President and CEO Rob Nichols, Federal Reserve Vice Chair for Supervision Michelle Bowman, FDIC Chairman Travis Hill, Comptroller of the Currency Jonathan Gould, members of the Senate Banking Committee, CSBS President and CEO Brandon Milhorn, and ABA experts. |
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|  | | Left: ABA President and CEO Rob Nichols | Right: Fed Vice Chair for Supervision Michelle Bowman |
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 | | Pictured: North Carolina bankers set off for their Capitol Hill visits. |
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|  | | Pictured: Bankers from the NC delegation meet with Sen. Thom Tillis |
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 | | Left: Sen. Ted Budd | Right: NCBA President & CEO Peter Gwaltney |
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| | During the summit, NCBA President and CEO Peter Gwaltney and North Carolina bankers met with members of the state’s congressional delegation and heard directly from federal regulatory agencies on issues including supervisory approaches, regulatory tailoring, capital rules, de novo chartering, bank mergers and fraud prevention. Gwaltney said he was encouraged by the direction of current regulatory reform efforts and thanked the North Carolina bankers who made the trip to advocate for the industry. |
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| Advocacy Opportunities: ICBA Capital Summit (May 4-7) |
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| Carter Bank Celebrates New Branch in Mooresville |
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| | Carter Bank celebrated the opening of its new branch in Mooresville with a ribbon-cutting ceremony, marking another investment in serving North Carolina communities. | | While attending the event, NCBA President & CEO Peter Gwaltney noted the bank’s strong commitment to developing its team. Several Carter Bank employees are graduates or current students of the NC School of Banking, now in its 90th year. Others have also been actively involved with the North Carolina Bankers Association through NC Emerging Leaders, participation in advocacy trips to Washington, D.C., and other leadership opportunities. | | Gwaltney praised the enthusiasm of the Carter Bank team and congratulated the bank on its new Mooresville office. |
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| Bank Economists: Credit Conditions Will Hold Relatively Steady over Next Six Months |
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| | While credit conditions are expected to continue softening over the next six months as the labor market faces challenges, they will hold relatively steady according to the American Bankers Association’s latest Credit Conditions Index. |
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| | | “Bankers broadly expect continued weakness in credit conditions over the next six months, but the outlook remains steady and we have not seen further deterioration,” said ABA Chief Economist Sayee Srinivasan. “Persistent inflation and subdued labor growth remain headwinds, but economic growth is expected to remain positive |
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| Federal Legislative & Regulatory Update⚖️ |
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| List of Jurisdictions with AML Deficiencies |
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| | FinCEN has notified financial institutions about the release of an updated list of jurisdictions with strategic deficiencies in countering anti-money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction. |
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| Among the changes, Kuwait and Papua New Guinea have been added to the list of jurisdictions under increased monitoring. |
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| Proposed Regulations for "Trump Accounts" |
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| | The IRS has issued proposed regulations for opening “Trump Accounts” for children and information on a pilot program for contributing to the accounts. |
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| Treasury Department Issues Reports |
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| FAQ on Tokenized Securities |
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| | In a new FAQ, the federal banking agencies have stated that financial institutions should treat an eligible tokenized security (representing ownership rights in securities using distributed ledger technology) in the same manner as the non-tokenized form of the security under the capital rule. |
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| Similarly, a derivative that references an eligible tokenized security should be treated for capital purposes as a derivative that references the non-tokenized form of the security. |
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| | The Federal Reserve Bank of Kansas City has approved a limited purpose account for Wyoming-based Payward Financial, dba Kraken Financial, under the Federal Reserve Board of Governors’ Account Access Guidelines. This is a one-year, limited-purpose master account. |
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| Fed Vice Chair for Supervision Michelle Bowman characterized the limited master account for crypto firm Kraken as a "pilot" to test how certain kinds of nonbanks can access the payments system. | | The action by the Federal Reserve Bank of Kansas City was quickly criticized by groups, including the Bank Policy Institute. |
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| Executive Order to Combat Cybercrime |
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| | President Trump has signed an executive order directing federal law enforcement agencies to develop tools to better combat transnational criminal organizations responsible for cyber scams and fraud, and to establish a program to return seized or forfeited funds from fraudsters to victims. |
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| Need credits? Earn SHRM, AAP, APRP, CRCM, CPE 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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| Atlantic Union Appoints Alexander D. Dodd as CFO |
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| | Atlantic Union Bankshares Corp appointed Alexander D. Dodd as CFO. He will succeed Robert M. Gorman, who is retired, but will stay on through Sept. 30 as an executive advisor, according to a press release. |
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| | "Truth has the structure of fiction." |
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| NC Bankers Association | 3601 Haworth Drive | Raleigh | NC | 27609 | US |
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