FS-ISAC Coronavirus Update, Feb. 18, 2021

Feb 19, 2021 | Coronavirus Update
Treasury Secretary Janet Yellen said Thursday that a major stimulus package is necessary for the economy to recover from the Covid-19 pandemic even amid strong economic momentum to start 2021.

Community banks lead 2021 PPP lending

Feb 19, 2021 | NewsWatch Today Article
Insured depository institutions under $10 billion in assets in 2021 have approved more than 740,000 Paycheck Protection Program loans worth $60.7 billion, according to the latest SBA data issued this week.

Climate change poses risks to FIs: Fed's Brainard

Feb 19, 2021 | NewsWatch Today Article
Federal Reserve Governor Lael Brainard said climate change is already imposing substantial economic costs while presenting risks and opportunities to financial institutions.

USDA announces dealer trust for livestock sellers

Feb 19, 2021 | NewsWatch Today Article
The USDA Agricultural Marketing Service announced a new Dealer Statutory Trust for livestock sellers, in accordance with the year-end appropriations law.

Fed extends netting protections

Feb 19, 2021 | NewsWatch Today Article
The Federal Reserve Board issued a final rule to apply netting protections to a broader range of financial institutions.

ICBA updates 'Return to the New Normal' guide

Feb 18, 2021 | NewsWatch Today Article
ICBA updated its "Return to the New Normal" guide featuring suggestions to help community banks resume more normal operations and person-to-person services amid the COVID-19 pandemic.

Government measures target North Korean cybercrime

Feb 18, 2021 | NewsWatch Today Article
The Justice Department indicted three North Korean computer programmers for participating in a series of cyberattacks designed to steal and extort more than $1.3 billion from financial institutions.

ICBA issues summary on new BSA/AML law

Feb 18, 2021 | NewsWatch Today Article
ICBA recently issued a summary on the defense spending law enacted at the beginning of the year that includes BSA/AML reforms.

FS-ISAC Coronavirus Update, Feb. 17, 2021

Feb 18, 2021 | Coronavirus Update
A new report published in the New England Journal of Medicine on Wednesday suggests that Pfizer-BioNTech’s Covid-19 vaccine can protect people against concerning new coronavirus variants, including one first seen in South Africa called B.1.351.

Policymakers to Participate in ICBA ThinkTECH Accelerator Event

Feb 17, 2021 | Press Release
ICBA, in partnership with The Venture Center and the State of Arkansas, will host a one-day virtual summit for policymakers and the 2021 ICBA ThinkTECH Accelerator fintech cohort, to tackle barriers and discuss solutions for enhanced community bank innovation.

SBA shortens period for relief payments

Feb 17, 2021 | NewsWatch Today Article
The SBA issued new guidance adjusting the number of months of 7(a), 504, and Microloan payments it is making for borrowers under Section 1112 of the CARES Act, as amended by Section 325 of the Economic Aid Act.

OCC allows closures due to Winter Storm Uri

Feb 17, 2021 | NewsWatch Today Article
The OCC issued a proclamation allowing national banks and federal savings associations to close offices affected by Winter Storm Uri at their discretion.

White House extends forbearance, foreclosure protections

Feb 17, 2021 | NewsWatch Today Article
The Biden administration extended the foreclosure moratorium and mortgage forbearance on certain loans through the end of June.

FS-ISAC Coronavirus Update, Feb. 16, 2021

Feb 16, 2021 | Coronavirus Update
The rate of new US coronavirus cases continued to decline Monday and Tuesday, as the country’s rolling average of daily infections fell below 90,000 for the first time in more than 100 days.

ICBA Continues Call for Joint CRA Rulemaking

Feb 16, 2021 | Press Release
The Independent Community Bankers of America today reiterated its call for federal regulators to work together on updated Community Reinvestment Act regulations in a comment letter to the Federal Reserve.

FS-ISAC Coronavirus Update, Feb. 15, 2021

Feb 16, 2021 | Coronavirus Update
The seven-day average of new COVID-19 cases in the US has declined in 40 states and territories, remained the same in eight, and increased in three states, South Dakota, Nebraska and Alaska, according to COVID Tracking Project data

SBA issues new loan program guidance

Feb 16, 2021 | NewsWatch Today Article
The SBA on Friday night issued two notices on its lending programs. Further PPP information and resources are available on the SBA and Treasury sites and ICBA's PPP and EIP News page.

ICBA continues opposition to Rakuten ILC application

Feb 16, 2021 | NewsWatch Today Article
Rakuten Bank America’s resubmitted deposit insurance application continues to pose risks of mixing banking and commerce due to Rakuten Inc.’s diverse and global commercial activities, ICBA told the FDIC.

ICBA to OCC: Rescind unvetted charter policy shift

Feb 16, 2021 | NewsWatch Today Article
ICBA and other groups asked the OCC to rescind an interpretive letter expanding eligibility to apply for a national trust charter as well as the conditional charter approvals for Anchorage Digital Bank and Protego Trust Bank.

FS-ISAC Coronavirus Update, Feb. 12, 2021

Feb 12, 2021 | Coronavirus Update
The US Centers for Disease Control and Prevention said Friday that schools can safely open as long as a range of precautions are in place, offering a comprehensive and science-based road map for a return to classrooms.