ICBA Newsroom
The ICBA Newsroom collects and centralizes all the NewsWatch Today articles, press releases, Main Street Matters blogs, advocacy letters and other news that impacts community bankers.
ICBA Thanks President for Signing PPP Extension
The Independent Community Bankers of America today thanked President Joe Biden for signing into law ICBA-advocated legislation to extend the Paycheck Protection Program ahead of its March 31 expiration.
March 30, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
IRS: PPE is tax deductible
The Internal Revenue Service clarified that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of COVID-19 are deductible medical expenses.
March 29, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Deadline for credit union comment letters extended
While ICBA last week submitted its comment letter urging the National Credit Union Administration to withdraw a proposal on credit union services organizations, community banks can still submit comment letters after the agency extended the deadline 30 days.
March 29, 2021 |
ICBA NewsWatch Today
Credit Unions
USDA asks lenders to suspend adverse actions against socially disadvantaged farmers
The USDA’s Farm Service Agency asked lenders to suspend adverse actions against guaranteed farm loan borrowers who are members of socially disadvantaged (SDA) groups while the agency develops a method to pay off SDA borrowers' direct and guaranteed loans.
March 29, 2021 |
ICBA NewsWatch Today
Agriculture USA Farm Loan Programs
ICBA supports bill offering rural lending tax relief
ICBA thanked Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa) for introducing legislation to exempt from taxation interest income on farm real estate and rural mortgage loans.
March 26, 2021 |
ICBA NewsWatch Today
Agriculture
ICBA urges credit union capital parity
ICBA called on the NCUA to create a minimum regulatory capital framework that is no less stringent than the Basel III regulatory capital framework in effect for community banks.
March 26, 2021 |
ICBA NewsWatch Today
Credit Unions
ICBA offers Community Banking Month resources
April is Community Banking Month, and ICBA offers resources to help community banks get involved, including a toolkit to help tell the community banking story.
March 25, 2021 |
ICBA NewsWatch Today
SBA increasing max EIDL amounts
The SBA said it is increasing maximum Economic Injury Disaster Loan amounts for small businesses from $150,000 over six months to $500,000 over 24 months.
March 25, 2021 |
ICBA NewsWatch Today
Lending
State Association Ag Conferences Scheduled
ICBA's affiliated state community banking associations are hosting a series of live and virtual agriculture conferences in 2021.
March 25, 2021 |
ICBA NewsWatch Today
Agriculture
ICBA, Venture Center reveal new set of fintech solutions
ICBA and The Venture Center hosted the ICBA ThinkTECH Accelerator Virtual Demo Day to demonstrate the third Accelerator cohort's community bank-focused fintech solutions.
March 25, 2021 |
ICBA NewsWatch Today
Big week for PPP, credit union grassroots
With Paycheck Protection Program and credit union issues coming to a head this week in Washington, ICBA is urging community bankers to weigh in with policymakers via its Be Heard grassroots action center.
March 24, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Credit Unions
Large payments companies move to single exam
The Conference of State Bank Supervisors said 13 nationwide payments firms have undergone or are undergoing their single comprehensive exams during the first quarter as part of the "One Company, One Exam" program.
March 24, 2021 |
ICBA NewsWatch Today
Compliance Payments
Cannabis banking bill reintroduced in Senate
ICBA-advocated legislation to establish a cannabis-banking safe harbor in states where cannabis is legal was reintroduced in the Senate following House introduction last week.
March 24, 2021 |
ICBA NewsWatch Today
Cannabis banking
ICBA urges OCC to withdraw bank premises proposal
ICBA and other groups called on the OCC to withdraw a proposed rule to impose a rules-based approach to what national banks and federal savings associations can do with their buildings, land, and facilities.
March 24, 2021 |
ICBA NewsWatch Today
OCC
Quarles: Focus on ceasing LIBOR use
While policymakers continue planning for the end of LIBOR, financial firms should focus this year on ending new uses of the benchmark interest rate, Fed Vice Chair for Supervision Randal Quarles said in a speech.
March 23, 2021 |
ICBA NewsWatch Today
LIBOR
Senate taking up PPP extension this week
With the Senate expected to vote this week on House-passed legislation to extend the Paycheck Protection Program, ICBA is urging community bankers to contact their senators in support
March 23, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
SBA updates PPP forms to implement changes
The SBA issued updated Paycheck Protection Program application forms that incorporate last week's interim final rule implementing American Rescue Plan Act changes.
March 23, 2021 |
ICBA NewsWatch Today
CFPB reports on debt-collection rule
The Consumer Financial Protection Bureau released its 2020 annual report to Congress on the Fair Debt Collection Practices Act, including public enforcement action details.
March 23, 2021 |
ICBA NewsWatch Today
Compliance
SBA opening shuttered venue grant applications April 8
The SBA launched an online portal to receive Shuttered Venue Operators Grant applications when the application period begins April 8. The program offers $16 billion in grants for eligible live venues.
March 22, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA urging grassroots on rural lending tax relief
With National Agriculture Week running through Friday, ICBA is calling on community bankers to advocate support for newly reintroduced legislation to exempt from taxation interest income on farm real estate and rural mortgage loans.
March 22, 2021 |
ICBA NewsWatch Today
Agriculture
Senate bill would expand credit union lending authority
ICBA-opposed legislation designed to expand credit union lending authority was introduced in the Senate.
March 19, 2021 |
ICBA NewsWatch Today
Credit Unions
ICBA-backed cannabis banking safe harbor reintroduced
ICBA expressed support for newly reintroduced bipartisan legislation to establish a safe harbor for financial institutions that serve cannabis-related businesses in states where cannabis is legal.
March 19, 2021 |
ICBA NewsWatch Today
Cannabis banking
New Nacha rules take effect today
Two new Nacha rules take effect today on Same Day ACH and account validation.
March 19, 2021 |
ICBA NewsWatch Today
Compliance
CISA issues tool for detecting threat activity
The Cybersecurity and Infrastructure Security Agency released a forensics collection capability to help detect activity related to the supply chain compromises affecting SolarWinds and Active Directory/Microsoft 365.
March 19, 2021 |
ICBA NewsWatch Today
Cybersecurity
90M EIPs disbursed this week
The Treasury Department and IRS said they disbursed roughly 90 million Economic Impact Payments this week.
March 18, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA urging grassroots outreach on PPP reform
ICBA is urging community bankers to use its Be Heard grassroots action center to urge their members of Congress to make needed changes to the Paycheck Protection Program if it is extended beyond March 31.
March 18, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA backs bill offering rural lending tax relief
ICBA expressed support for legislation to exempt from taxation interest income on farm real estate and rural mortgage loans.
March 18, 2021 |
ICBA NewsWatch Today
Agriculture USA Farm Loan Programs
House passes PPP extension with Senate outlook in question
The House voted 415-3 to pass ICBA-supported legislation to extend the Paycheck Protection Program, though the Senate outlook remains unclear.
March 17, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
EIPs start depositing today
The first tranche of new Economic Impact Payments sent through the ACH Network is effective today. In a joint statement, ICBA and other financial services groups clarified that the March 17 payment date was chosen by the IRS—not the banking industry.
March 17, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Farm banks remain strong amid ag challenges: FDIC
Farm banks are vital to U.S. agricultural producers and rural communities, holding 44 percent of bank-held agricultural loans despite holding just 2 percent of U.S. bank loans, according to a new FDIC report.
March 16, 2021 |
ICBA NewsWatch Today
Agriculture
PPP loans reaching smallest borrowers: SBA data
The current round of the Paycheck Protection Program is successfully reaching smaller borrowers, according to recent data from the SBA.
March 16, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA ThinkTECH Innovation Showcase today
ICBA today is hosting a showcase of 2021 ICBA ThinkTECH Accelerator participants and their new technologies available to community banks.
March 16, 2021 |
ICBA NewsWatch Today
ICBA: Two-tiered deadline will ensure SBA clears PPP loans on hold
ICBA thanked policymakers for introducing The PPP Extension Act of 2021, which pushes the application deadline until May 31 and creates a second deadline of June 30 for the Small Business Administration to clear the thousands of Paycheck Protection Program loan applications in process.
March 15, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
FBI warns of cryptocurrency theft threat
The FBI said federal charges against three computer programmers linked to the North Korean government illustrate the appeal of cryptocurrency markets and exchanges for theft and fraud.
March 15, 2021 |
ICBA NewsWatch Today
Cybersecurity
SBA updates PPP guidance
The Small Business Administration on Friday updated its frequently asked questions as well as its guidance concerning how to calculate revenue reduction and maximum loan amounts for first- and second-draw Paycheck Protection Program loans.
March 15, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Agencies propose private flood insurance Q&As
Federal regulators requested comments on 24 proposed interagency questions and answers regarding private flood insurance.
March 12, 2021 |
ICBA NewsWatch Today
Advocacy Flood Insurance Compliance
CFPB rescinds abusiveness policy statement
The Consumer Financial Protection Bureau said it is rescinding its January 2020 “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”
March 12, 2021 |
ICBA NewsWatch Today
Compliance
New round of EIPs starts today
The IRS said it will begin distributing the third round of Economic Impact Payments today, with an effective entry date of this Wednesday, March 17.
March 12, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA testifies: Don't leave PPP applicants stranded
The approaching Paycheck Protection Program expiration date should not leave small businesses or nonprofits stranded, ICBA community banker Alice P. Frazier told the House Small Business Committee
March 11, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Congress approves stimulus plan
ICBA released a summary of the $1.9 trillion American Rescue Plan Act (H.R. 1319), which Congress passed and President Joe Biden is expected to sign into law soon.
March 11, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Joint rule supports Treasury program for CDFIs, MDIs
Federal bank regulators issued an interim final rule that supports the Treasury Department’s Emergency Capital Investment Program, which will provide $9 billion in capital to Community Development Financial Institutions and Minority Depository Institutions.
March 10, 2021 |
ICBA NewsWatch Today
MDI
ICBA: GSE liquidity plan aligns with capital framework
ICBA said it agrees with the Federal Housing Finance Agency's approach to proposed liquidity requirements for Fannie Mae and Freddie Mac.
March 10, 2021 |
ICBA NewsWatch Today
Housing Finance/GSEs
FinCEN issues AML notice on art, antiquities
The Financial Crimes Enforcement Network issued a notice on Anti-Money Laundering Act of 2020 requirements related to antiquities and arts.
March 10, 2021 |
ICBA NewsWatch Today
Compliance
CFPB: sex discrimination prohibitions apply to sexual orientation, gender identity
The Consumer Financial Protection Bureau issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes discrimination related to sexual orientation and gender identity.
March 10, 2021 |
ICBA NewsWatch Today
Compliance
ICBA showcases new PPP videos at ICBA Connect
Available on banklocally.org and featuring representatives from Tioga State Bank, Bank of Idaho, and M&F Bank, new videos from ICBA feature discussions on the role of community banks in local economies with a focus on their PPP leadership.
March 10, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA summarizes stimulus plan
ICBA released a summary of the $1.9 trillion American Rescue Plan Act (H.R. 1319), which Congress is expected to pass this week.
March 10, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Agencies update CRA FAQs
Federal regulators issued new frequently asked questions to help financial institutions and examiners determine Community Reinvestment Act consideration related to the COVID-19 pandemic.
March 09, 2021 |
ICBA NewsWatch Today
Compliance
ICBA: Ensure SBA clears all PPP loans on hold
ICBA and other financial groups called on policymakers to ensure the SBA clears the thousands of Paycheck Protection Program loan applications in process through the end of March.
March 08, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Fed includes women's depository institutions in MDI definition
The Federal Reserve expanded the definition of minority depository institutions to include women-owned financial institutions.
March 08, 2021 |
ICBA NewsWatch Today
MDI
CISA urges Microsoft Exchange patching against vulnerability
The Cybersecurity and Infrastructure Security Agency urged public and private sector partners to follow its emergency directive on the Microsoft Exchange widespread vulnerability affecting on-premises deployments.
March 08, 2021 |
ICBA NewsWatch Today
Cybersecurity
Key takeaways on new PPP rule
ICBA offers the following community bank takeaways on this week's SBA interim final rule, frequently asked questions, updated application forms, and webinar implementing Paycheck Protection Program changes for IRS Form 1040, Schedule C filers.
March 05, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
CISA call today on Microsoft vulnerability
The Cybersecurity and Infrastructure Security Agency is hosting a conference call at noon (Eastern time) today on the active exploitation of a vulnerability in Microsoft Exchange Server 2013, 2016, and 2019
March 05, 2021 |
ICBA NewsWatch Today
Risk Cybersecurity
New Same Day ACH window in effect this month
Nacha's new rule allowing Same Day ACH transactions to be submitted to the ACH Network for an additional two hours every business day takes effect on at 4:45 p.m. (Eastern time) Friday, March 19.
March 05, 2021 |
ICBA NewsWatch Today
Compliance Payments
Treasury launches $9B CDFI, MDI program
The Treasury Department opened the application process for the Emergency Capital Investment Program, which will provide $9 billion in capital to Community Development Financial Institutions and Minority Depository Institutions.
March 05, 2021 |
ICBA NewsWatch Today
MDI
CFPB proposes delaying new QM rule
The Consumer Financial Protection Bureau proposed delaying the mandatory compliance date of its general Qualified Mortgage final rule from July 1, 2021, to Oct. 1, 2022.
March 04, 2021 |
ICBA NewsWatch Today
Compliance Compliance Mortgage Rules
SBA issues new PPP rule, applications
The SBA released its new interim final rule and new application forms implementing Paycheck Protection Program changes for sole proprietors and other borrowers that file IRS Form 1040, Schedule C. An SBA webinar on the updates is scheduled for today.
March 04, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Romero Rainey: ICBA pressing PPP reforms
While Congress is fast-tracking the next stimulus package, problems with existing recovery programs remain unaddressed, ICBA President and CEO Rebeca Romero Rainey wrote in an op-ed this week.
March 04, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Romero Rainey named one of Washington's most influential
ICBA President and CEO Rebeca Romero Rainey was named one of Washington's most influential people by Washingtonian magazine.
March 02, 2021 |
ICBA NewsWatch Today
Advocacy
SBA: New PPP rule coming soon
The SBA said it will "soon" publish a new Paycheck Protection Program interim final rule and issue a new application for Schedule C filers. Until then, it issued the following considerations:
March 02, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Fed issues continuity tips for storm season
In a new post, the Federal Reserve provided resources on pre-storm planning, storm watching, and post-storm procedures
March 02, 2021 |
ICBA NewsWatch Today
Advocacy Risk
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