The following hot-button issues are top priorities as ICBA advocates common-sense reforms on behalf of community banks and the communities they serve.
In response to an ICBA grassroots and media campaign, the FHFA, Fannie Mae, and Freddie Mac delayed a 50-basis point fee on refinanced mortgages from Sept. 1 to Dec. 1 and exempted smaller loans.
Treasury increased the interest rate from .5% to 1%. Congress extended the window for spending PPP funds from 8 weeks to 24 weeks and lowered percentage that must be spent on payroll from 75% to 60%.
The second round of PPP funding allocated $60 billion for community bank loans: $30 billion for banks with less than $10 billion in assets and $30 billion for banks with less than $50 billion in assets.
The OCC’s CRA rule raised the small bank threshold from $326m in assets to $600m and the ISB threshold from $1.305b to $2.5b, citing methodology argued for in ICBA’s comment letter.