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.

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.

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.

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.

Maine Banks: Corporators Meetings Notice Requirements

The Maine Bureau of Financial Institutions issued Bulletin 84 to clarify notice requirements for corporators meetings for Maine-chartered mutual banks. The bulletin designates newspapers of general circulation in the county of the institution's home office as sufficient for public advertisement of meeting notices.

Maine Guidance on Non-Sufficient Funds (NSF) Fees

The Maine Bureau of Financial Institutions issued guidance on non-sufficient funds (NSF) fees for state-chartered financial institutions. The bulletin clarifies that charging multiple NSF fees under certain circumstances, such as inadequate disclosure or lack of reasonable opportunity to avoid fees, will be treated as an unfair practice. Institutions are encouraged to self-identify and correct violations.

Maine BFI Bulletin 80: FFIEC Cybersecurity Tool Sunset

The Maine Bureau of Financial Institutions issued Bulletin #80, updated June 30, 2025, to notify financial institutions that the FFIEC Cybersecurity Assessment Tool (CAT) will sunset on August 31, 2025. The Bureau continues to expect institutions to assess cybersecurity preparedness using alternative methods and resources.

Maine Financial Institution Application Fee Increases

The Maine Bureau of Financial Institutions has revised its schedule of application fees for financial institutions. Most significantly, the fee to charter new financial institutions, including nondepository trust companies, merchant banks, and uninsured banks, has been increased to the statutory maximum of $5,000.

Maine Bulletin 76 Amended: Interest on Escrow Accounts Benchmark Rate Changed

The Maine Bureau of Financial Institutions has amended Bulletin 76 to reflect a statutory change in the benchmark interest rate for escrow accounts on owner-occupied residential properties. The new benchmark is the 1-year Treasury Bill secondary market rate, effective for calendar year 2023.

Maine Extends Reduced Assessment Rates for Financial Institutions

The Maine Bureau of Financial Institutions has issued an order extending reduced annual assessment rates for Maine-chartered financial institutions, including banks and credit unions. The reduced rates will continue through the quarter ending December 31, 2026.