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.
IRS issues guidance on employee retention credit
The IRS issued guidance for employers claiming the employee retention tax credit under the CARES Act. The guidance includes clarifications and describes retroactive changes relating to expanded eligibility.
March 02, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
SBA: PPP changes effective this week
The SBA this week plans to issue an interim final rule detailing and implementing pending changes to the Paycheck Protection Program.
March 01, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA summarizes new House-passed stimulus plan
ICBA released a summary of the House version of the $1.9 trillion American Rescue Plan Act (H.R. 1319), which the House passed Saturday on a nearly party-line vote.
March 01, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Bill would expand farm partnership access to PPP
ICBA-supported legislation allowing farmers and ranchers categorized as partnerships to use gross income to calculate maximum Paycheck Protection Program loan amounts was introduced in the House.
March 01, 2021 |
ICBA NewsWatch Today
Advocacy Agriculture Crisis Preparedness Lending Rural Development
Fed payment services back up following disruption
Federal Reserve payment services are back online following a three-hour disruption yesterday that the Fed attributed to "operational error."
February 25, 2021 |
ICBA NewsWatch Today
Federal Reserve
PPP small borrower window opens, other reforms effective next week
One of the Biden administration's Paycheck Protection Program reforms announced earlier this week started yesterday, with the rest set to be implemented next week.
February 25, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA urges crop insurance support
ICBA and other groups urged policymakers to protect crop insurance from harmful cuts as they develop the fiscal 2022 budget.
February 25, 2021 |
ICBA NewsWatch Today
Agriculture Crop Insurance
FinCEN issues advisory on EIP fraud
The Financial Crimes Enforcement Network issued an advisory to alert financial institutions to fraud and other financial crimes related to Economic Impact Payments.
February 25, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Cybersecurity Lending
CFPB announces plans to rethink QM rules
The Consumer Financial Protection Bureau said it expects to propose a rule to delay its Qualified Mortgage rule’s July 1 mandatory compliance date.
February 24, 2021 |
ICBA NewsWatch Today
Compliance Compliance
ICBA urges garnishment exemption for EIPs
ICBA and other groups urged Congress to include language in the next stimulus package exempting the third round of Economic Impact Payments from garnishment.
February 24, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Community banks again outperform industry: FDIC
Community banks reported net income growth of 21.2 percent in the fourth quarter from a year ago and a 3.6 percent increase in 2020 from the year before, according to the FDIC's Quarterly Banking Profile.
February 24, 2021 |
ICBA NewsWatch Today
Advocacy Commerce & Banking
Agencies announce relief for Texas winter storms
Federal and state agencies announced relief to institutions and taxpayers affected by this month's winter storms in Texas and other states.
February 23, 2021 |
ICBA NewsWatch Today
Advocacy Risk
PPP reforms target smallest businesses
The Biden administration announced several Paycheck Protection Program reforms to target the program to the smallest businesses.
February 23, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA urges funding for rural development programs
ICBA and other groups called on House appropriators to ensure adequate funding for key USDA rural development programs in the next COVID bill.
February 23, 2021 |
ICBA NewsWatch Today
Advocacy Agriculture Crisis Preparedness Lending
Agencies finalize call report threshold relief
Federal regulators issued final call report changes related to asset threshold relief given the impact of Paycheck Protection Program lending on bank balance sheets.
February 22, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Fed's Powell testifying this week
Federal Reserve Chairman Jerome Powell is slated to testify this week before the Senate Banking Committee and House Financial Services Committee on the agency's Semiannual Monetary Policy Report.
February 22, 2021 |
ICBA NewsWatch Today
Federal Reserve
Minority bank webinar on evaluating capital opportunities
ICBA, ICBA Securities, and Vining Sparks are hosting a complimentary webinar for FDIC-designated Minority Depository Institutions on evaluating unsolicited interest from investors to provide capital and funding.
February 22, 2021 |
ICBA NewsWatch Today
MDI
Community banks lead 2021 PPP lending
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.
February 19, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Climate change poses risks to FIs: Fed's Brainard
Federal Reserve Governor Lael Brainard said climate change is already imposing substantial economic costs while presenting risks and opportunities to financial institutions.
February 19, 2021 |
ICBA NewsWatch Today
Agriculture
Fed extends netting protections
The Federal Reserve Board issued a final rule to apply netting protections to a broader range of financial institutions.
February 19, 2021 |
ICBA NewsWatch Today
Federal Reserve Compliance
USDA announces dealer trust for livestock sellers
The USDA Agricultural Marketing Service announced a new Dealer Statutory Trust for livestock sellers, in accordance with the year-end appropriations law.
February 19, 2021 |
ICBA NewsWatch Today
Agriculture
ICBA updates 'Return to the New Normal' guide
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.
February 18, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA issues summary on new BSA/AML law
ICBA recently issued a summary on the defense spending law enacted at the beginning of the year that includes BSA/AML reforms.
February 18, 2021 |
ICBA NewsWatch Today
BSA/AML
Government measures target North Korean cybercrime
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.
February 18, 2021 |
ICBA NewsWatch Today
Cybersecurity
SBA shortens period for relief payments
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.
February 17, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
OCC allows closures due to Winter Storm Uri
The OCC issued a proclamation allowing national banks and federal savings associations to close offices affected by Winter Storm Uri at their discretion.
February 17, 2021 |
ICBA NewsWatch Today
Compliance
White House extends forbearance, foreclosure protections
The Biden administration extended the foreclosure moratorium and mortgage forbearance on certain loans through the end of June.
February 17, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending Mortgage Rules
SBA issues new loan program guidance
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.
February 16, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA continues opposition to Rakuten ILC application
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.
February 16, 2021 |
ICBA NewsWatch Today
Lending
ICBA to OCC: Rescind unvetted charter policy shift
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.
February 16, 2021 |
ICBA NewsWatch Today
Fintech Regulation
Fed extends rule allowing PPP loans to directors
The Federal Reserve Board again extended its rule allowing certain bank directors and shareholders to apply to their banks for Paycheck Protection Program loans for their small businesses.
February 10, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Smaller lenders continue leading PPP lending
Insured depository institutions under $10 billion in assets in 2021 have approved more than 608,000 Paycheck Protection Program loans worth $39.4 billion, according to the latest SBA data.
February 10, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
OCC rescinds CRA benchmarking survey
The OCC said national banks over $2.5 billion in assets are not required to respond to a Community Reinvestment Act benchmarking survey, as advocated by ICBA.
February 10, 2021 |
ICBA NewsWatch Today
CRA
SBA begins EIDL repayments today
The SBA today will begin remitting reconciliation payments for Paycheck Protection Program loans with a forgiveness payment that was reduced by the amount of an Economic Injury Disaster Loan advance.
February 09, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA pitches provisions for pending relief package
ICBA today is advancing its recommendations for the pandemic relief package before Congress. Developed with community bankers, the ICBA recommendations in today's letter to Congress include, among other things, expanding support for the PPP.
February 09, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Consumer fraud losses surge in 2020: FTC
The Federal Trade Commission said it received more than 2.1 million fraud reports from consumers in 2020. Consumers reported losing more than $3.3 billion to fraud in 2020, up from $1.8 billion in 2019
February 08, 2021 |
ICBA NewsWatch Today
Cybersecurity
ICBA: Extend consumer protections to data aggregators
ICBA called on the Consumer Financial Protection Bureau to ensure nonbanks that access customer financial information take the same care in protecting consumer privacy and data as community banks.
February 08, 2021 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
CISA COVID-19 call series continues
The Cybersecurity and Infrastructure Security Agency's series of teleconferences on COVID-19 and vaccine distribution continues this week.
February 08, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Cybersecurity
PPP borrowers most successful with community banks: study
Community banks were the most common source for Paycheck Protection Program loans among employer firms, and they were the source from which applicants were most successful in obtaining PPP funding, the Federal Reserve Banks said.
February 05, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA seeks advocacy survey feedback
ICBA continues calling on community bankers to complete its State of Advocacy survey to help identify new and existing community banker relationships with members of Congress.
February 05, 2021 |
ICBA NewsWatch Today
Advocacy
ICBA-backed foreclosure assistance introduced in Senate
ICBA-supported legislation to prevent avoidable foreclosures, evictions, and utility shut-offs was introduced by Sen. Jack Reed (D-R.I.), Senate Banking Committee Chairman Sherrod Brown (D-Ohio), and Senate Appropriations Committee Chairman Patrick Leahy (D-Vt.).
February 05, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
FedNow industrywide launch moved up to 2023
The Federal Reserve moved up its planned industrywide launch of the FedNow instant payments service by up to a full year to 2023. The announcement narrows the industrywide delivery timeframe from 2023-2024.
February 03, 2021 |
ICBA NewsWatch Today
Federal Reserve
ICBA Connect speakers post intro videos
Academy Award-winning actor Matthew McConaughey, magic teacher Vinh Giang, status quo questioner Jessica Matthews, social entrepreneur Michelle Poler, and peak performance teacher Dan Thurmon posted videos encouraging ICBA Connect participation.
February 03, 2021 |
ICBA NewsWatch Today
Independent Banker spotlights Black-owned banks
The February issue of Independent Banker focuses on why Black-owned banks are crucial to lifting the economic fortunes of African Americans.
February 02, 2021 |
ICBA NewsWatch Today
Smaller lenders leading again on PPP
Insured depository institutions under $10 billion in assets have made more than half of 2021 first- and second-draw Paycheck Protection Program loans, according to SBA data.
February 02, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA urges expanded call report relief
ICBA called on federal regulators to expand their efforts to streamline community bank call reporting to recognize the impact of Paycheck Protection Program lending.
February 02, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
CFPB issues 2021 consumer reporting list
The Consumer Financial Protection Bureau issued its 2021 list of consumer reporting companies. The list includes the three nationwide consumer reporting companies as well as other companies.
February 01, 2021 |
ICBA NewsWatch Today
Compliance
IRS concluding stimulus payments
The IRS on Friday reissued 1.2 million Economic Impact Payments through the ACH network with an effective date of this Wednesday, Feb. 3. Another 2.3 million reissued EIP2 checks are scheduled to be printed and mailed by Friday, Feb. 5.
February 01, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
SBA updates PPP FAQs with BSA/AML guidance
The SBA updated its frequently asked questions on the Paycheck Protection Program with guidance on the Financial Crimes Enforcement Network and BSA/AML compliance.
February 01, 2021 |
ICBA NewsWatch Today
Advocacy BSA/AML Compliance Crisis Preparedness Lending
SBA issues tax guidance on relief payments
The SBA issued several notices on its loan programs, including updated guidance on the tax implications of the six months of 7(a), 504, and Microloan payments it is making for borrowers under Section 1112 of the CARES Act.
February 01, 2021 |
ICBA NewsWatch Today
Lending Lending
SBA issues guidance on resolving PPP loan issues
The SBA issued a procedural notice and additional resources on resolving issues with first-draw Paycheck Protection Program loans to ensure borrower eligibility for second-draw loans, including codes to submit to the PPP loan platform.
January 28, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
USDA announces loan program flexibilities
The USDA announced the temporary suspension of past-due debt collections and foreclosures for distressed borrowers under the Farm Service Agency's Farm Storage Facility Loan and the Direct Farm Loan programs.
January 28, 2021 |
ICBA NewsWatch Today
Agriculture
SBA issues guidance on 7(a), 504 programs
In addition to its guidance on PPP loan issues, the SBA also issued guidance on Economic Aid Act provisions affecting the agency's 7(a) and 504 loan programs.
January 28, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Community banks outperform credit unions on overdraft: report
Community banks with less than $100 million in assets are offering better overdraft pricing to consumers than "rival" credit unions, according to a Moebs Services report covered by CU Today.
January 27, 2021 |
ICBA NewsWatch Today
Credit Unions
SBA plans improvements to PPP loan reviews
The SBA said it is working to improve reviews of first-draw Paycheck Protection Program loans. The agency said anomalies—mostly data mismatches and eligibility concerns—were identified in approximately 4.7 percent of lender-submitted data.
January 27, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA encouraging responses to advocacy survey
ICBA is calling on community bankers to complete its State of Advocacy survey to help identify new and existing community banker relationships with members of Congress.
January 27, 2021 |
ICBA NewsWatch Today
Advocacy
ICBA advocacy briefing this week
ICBA's next Community Bank Briefing with an update from Washington is set for 2 p.m. (Eastern time) this Thursday, Jan. 28.
January 26, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
GAO seeking PPP feedback
The Government Accountability Office will be surveying a sample of Paycheck Protection Program lenders in the coming weeks to gather feedback about their experiences with the program.
January 26, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
SBA working to identify potential PPP updates
The SBA on Saturday said it is working to ensure the Paycheck Protection Program appropriately accounts for the changes that businesses may have undergone since the beginning of the pandemic.
January 25, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Treasury plans EIP outreach for unserved households
The Treasury Department announced plans to help the up to 8 million households that have not yet been able to access either round of Economic Impact Payments.
January 25, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Department of Treasury Lending
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