Fed proposes changes to interchange regs

May 10, 2021 | NewsWatch Today
The Federal Reserve Board invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing).

ARRC issues market indicators supporting LIBOR alternative

May 10, 2021 | NewsWatch Today
The Alternative Reference Rates Committee last week published market indicators it will consider in recommending a forward-looking Secured Overnight Financing Rate term rate to support the transition away from LIBOR.

ICBA to FinCEN: exempt banks from beneficial owner mandates

May 10, 2021 | NewsWatch Today
ICBA called on the Financial Crimes Enforcement Network to amend its customer due diligence rules and withdraw its requirement that banks collect beneficial ownership information.

ICBA continues support for ‘true lender’ rule

May 7, 2021 | NewsWatch Today
ICBA and other groups told Congress they oppose legislative efforts to repeal the OCC’s “true lender” rule. The OCC rule, which ICBA supported in a comment letter last year, creates a standard to determine when a bank is the “true lender” when partnering with a third party.

ICBA, groups urge OCC to withdraw CRA rule

May 7, 2021 | NewsWatch Today
ICBA and other groups this week called on the OCC to formally withdraw its Community Reinvestment Act rule or delay its January 2023 compliance date for at least two years.

FS-ISAC Coronavirus Update, May 7, 2021

May 7, 2021 | Coronavirus Update
Americans have entered a new, hopeful phase of the pandemic as the outlook has improved across the nation, with cases and hospitalizations at their lowest points in nearly seven months, and deaths from Covid-19 have not been this low since July.

ICBA Names Kristina Morris as Director of Innovation

May 6, 2021 | Press Release
ICBA announced today that Kristina Morris has joined as director of innovation. In this role Morris will work with the ICBA ThinkTECH Accelerator cohort, leading portfolio management activities and program development to support ICBA’s overall innovation strategy.

Fed proposes standards for accessing Fed accounts, payments system

May 6, 2021 | NewsWatch Today
The Federal Reserve Board proposed guidelines for evaluating requests for accounts with the Fed and access to the payments system, as advocated by ICBA.

Treasury extends MDI, CDFI program

May 6, 2021 | NewsWatch Today
The Treasury Department extended its program to invest in Minority Depository Institutions and Community Development Financial Institutions, as requested by ICBA.

IRS issues another 1.1M EIPs

May 6, 2021 | NewsWatch Today
The IRS said it is disbursing another 1.1 million Economic Impact Payments in the eighth batch under the American Rescue Plan.

FS-ISAC Coronavirus Update, May 6, 2021

May 6, 2021 | Coronavirus Update
The Small Business Administration said Wednesday that the Paycheck Protection Program has been exhausted, and as of Sunday, the PPP had given out nearly 10.8 million loans worth more than $780 billion since April of last year.

PPP general fund exhausted

May 5, 2021 | NewsWatch Today
The Paycheck Protection Program’s general fund was reportedly exhausted Tuesday ahead of the program’s May 31 authorization, though some PPP funds remain for certain loans and lenders.

CFPB reports on mortgage borrower challenges

May 5, 2021 | NewsWatch Today
The Consumer Financial Protection Bureau said more needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn.

Postal banking won’t deliver: letter

May 5, 2021 | NewsWatch Today
While increasing financial inclusion and improving U.S. Postal Service financial stability are worthy goals, postal banking would accomplish neither, Pennsylvania Association of Community Bankers President and CEO Kevin L. Shivers wrote.

FS-ISAC Coronavirus Update, May 5, 2021

May 5, 2021 | Coronavirus Update
So far, about 145 million adults - about 56% of the adult population in the US - have received at least one dose of Covid-19 vaccine, according to the latest data from the US Centers for Disease Control and Prevention.

Independent Banker features 2020’s top performers

May 4, 2021 | NewsWatch Today
The May issue of Independent Banker magazine spotlights the best-performing community banks of 2020.

PPP funds could be exhausted soon

May 4, 2021 | NewsWatch Today
The SBA reportedly told congressional offices that general Paycheck Protection Program funding could be exhausted soon.

FS-ISAC Coronavirus Update, May 4, 2021

May 4, 2021 | Coronavirus Update
Confirmed coronavirus cases in the US rose at the slowest pace since the pandemic began in the week ended Sunday, according to data compiled by Johns Hopkins University and Bloomberg.

Bowman provides reg update on fintech partnerships

May 3, 2021 | NewsWatch Today
A recent column from Federal Reserve Gov. Michelle Bowman provides an update on regulatory efforts to promote community bank innovation and partnerships with fintech firms.

Fed: banking system showing resilience

May 3, 2021 | NewsWatch Today
Financial institutions’ strong capital and liquidity positions have enabled the banking system to support the U.S. economic recovery, the Federal Reserve reported.