The Senate just passed bipartisan legislation that includes an additional $310 billion to restart the Paycheck Protection Program and an ICBA-advocated minimum of $60 billion set aside for community banks.
The day-to-day workings of a bank do not cease simply because so many new challenges — thanks to COVID-19 — are coming our way. In fact, with customers more concerned than ever about their financial situations, community banks can and have been a primary source of assurance and comfort.
With concerns over the cleanliness of paper-based payment options like cash and checks, and limited in-person branch offerings, digital payments are gaining new traction as a safer way to make and receive payments.
The Treasury Department and Small Business Administration just answered key ICBA questions about the Paycheck Protection Program relating to bank directors, partnerships, self-employed borrowers, and more.
In the face of a global pandemic, it’s easy to be drawn into a doom-and-gloom mindset that focuses only on the negative. At ICBA, we know that out of the darkness light emerges, with community banks like you serving as bright spots.
The SBA launched a long-awaited portal while ICBA Chairman Noah Wilcox and ICBA Vice Chairman Brad Bolton participated in a virtual White House meeting with President Donald Trump, Treasury Secretary Steven Mnuchin, and SBA Administrator Jovita Carranza to discuss the status of the PPP.
We know today's flawed launch of the Small Business Administration's Paycheck Protection Program has been filled with high tensions and desperate attempts by community bankers to meet the needs of their small-business customers.