IA Div of Banking News

Iowa Banking Superintendent Appointment

Governor Kim Reynolds announced the appointment of James Johnson as the new Superintendent of Banking for the Iowa Division of Insurance and Financial Services, effective January 1, 2024. Johnson will replace Jeff Plagge, who is retiring.

Iowa Banking Guidance on CECL and LLL Calculation

The Iowa Division of Banking has released new guidance for all Iowa-regulated banks regarding Current Expected Credit Losses (CECL) accounting standards and Iowa Code Legal Lending Limit calculations. This guidance aims to clarify compliance requirements for these critical financial areas.

Banking Division Proposes Rule on Corporate Application Fees

The Iowa Division of Banking has proposed a new rule to formally adopt existing corporate application fees for banks. This action follows a public hearing and the finalization of a regulatory analysis. The rule would codify fees for activities like establishing new offices, mergers, and amendments.

Updated Ransomware Self-Assessment Tool for Nonbanks

The Iowa Division of Banking announced the availability of an updated Nonbank Ransomware Self-Assessment Tool (R-SAT). Developed collaboratively by CSBS and other agencies, this tool helps nonbank companies assess their cybersecurity readiness against ransomware attacks.

Iowa Guidance on Virtual Currency Kiosk Licensing

The Iowa Division of Banking (IDOB) has issued new guidance clarifying licensing requirements for virtual currency kiosks (BTMs) operating in Iowa. This guidance is intended for current and potential operators of these kiosks within the state.