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.
Yellen nomination advances in Senate
The Senate Finance Committee unanimously approved the nomination of Janet Yellen for Treasury secretary. The committee vote sends Yellen's nomination to the full Senate for a final confirmation vote, which is scheduled for tonight.
January 25, 2021 |
ICBA NewsWatch Today
Advocacy
ICBA seeks more gradual increase of same-day ACH limits
ICBA said it supports Nacha's plan to raise the individual same-day ACH transaction limit from $100,000 to $1 million in 2022. However, ICBA urged Nacha to assess the impact of such an increase before proceeding with its plan to remove dollar limits altogether in 2024.
January 25, 2021 |
ICBA NewsWatch Today
Compliance Payments
Biden names acting agency heads
President Joe Biden named agency heads serving in an acting capacity until permanent leadership is confirmed by the Senate.
January 22, 2021 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Federal Reserve Department of Treasury
ICBA urges OCC to rescind CRA survey
ICBA encouraged the OCC to rescind its proposal to require national banks over $2.5 billion in assets to complete an Information Collection Survey to establish benchmarks for its 2020 Community Reinvestment Act rule.
January 22, 2021 |
ICBA NewsWatch Today
CRA OCC
Biden expected to tap Michael Barr to head OCC
President Joe Biden is expected to nominate former Treasury Department official Michael Barr for comptroller of the currency, according to reports from Politico and other news outlets citing anonymous sources.
January 22, 2021 |
ICBA NewsWatch Today
OCC
IRS confirms SBA 7(a) payments no longer taxable income
The IRS this week issued guidance clarifying that SBA payments on existing 7(a) and 504 loans under Section 1122 of the CARES Act are no longer considered taxable income to the borrower.
January 22, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Kraninger steps down from CFPB
Kathy Kraninger announced Wednesday that she resigned as Consumer Financial Protection Bureau director, as requested by President Joe Biden's administration.
January 21, 2021 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
PPP resources available directly from SBA
Community bankers have reported problems with NewsWatch Today links to the SBA's Paycheck Protection Program resources, including application forms and rules.
January 21, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Agencies issue FAQs on SARs
Federal regulators issued responses to frequently asked questions regarding Suspicious Activity Reports and other anti-money-laundering considerations.
January 20, 2021 |
ICBA NewsWatch Today
Compliance
Agencies finalize rules on supervisory guidance
The FDIC, OCC, and CFPB issued final rules to clarify and codify the role of supervisory guidanc
January 20, 2021 |
ICBA NewsWatch Today
Compliance
CFPB finalizes escrow relief
The Consumer Financial Protection Bureau issued a final rule implementing ICBA-supported relief from mandatory escrow requirements for higher-priced mortgage loans.
January 20, 2021 |
ICBA NewsWatch Today
Compliance
USDA finalizes hemp rule
The USDA issued its final rule regulating the production of hemp. The rule—which takes effect March 22—includes licensing and recordkeeping requirements, procedures for testing THC levels, compliance provisions, and more.
January 19, 2021 |
ICBA NewsWatch Today
Agriculture Compliance
SBA issues resources as PPP fully reopens today
The SBA over the weekend issued additional resources on the Paycheck Protection Program, which will fully open to all participating lenders today
January 19, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
CISA issues guides with cyber best practices
The Cybersecurity and Infrastructure Security Agency issued new guides for federal agencies with best practices that can apply throughout the commercial sector.
January 19, 2021 |
ICBA NewsWatch Today
Cybersecurity
CFPB issues compliance guide for debt collection rule
The Consumer Financial Protection Bureau issued a new small entity compliance guide summarizing the October 2020 debt collection rule.
January 19, 2021 |
ICBA NewsWatch Today
Compliance Compliance
PPP reopening for more lenders today
The SBA will reopen the Paycheck Protection Program loan portal to PPP-eligible lenders with $1 billion or less in assets at 9 a.m. (Eastern time) today. The reopening applies to both first- and second-draw applications.
January 15, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
FBI alert, webinar offer threat update
The FBI issued an alert on violence related to the electoral certification and inauguration of President-elect Joe Biden. The alert recaps investigative activity and provides a national threat picture through next week's inauguration.
January 15, 2021 |
ICBA NewsWatch Today
Risk Cybersecurity
NCUA seeks expanded powers for CUSOs
The National Credit Union Administration issued a proposed rule that would expand credit union service organizations' permissible services and activities to include anything federal credit unions can currently do.
January 15, 2021 |
ICBA NewsWatch Today
Credit Unions
FHFA, Treasury allow GSEs to continue retaining earnings
The Federal Housing Finance Agency and Treasury Department updated the Preferred Stock Purchase Agreements allowing Fannie Mae and Freddie Mac to continue to retain earnings until they satisfy the requirements of the 2020 GSE capital rule.
January 15, 2021 |
ICBA NewsWatch Today
Housing Finance/GSEs
PPP reopening for more lenders tomorrow
The SBA said it will reopen the Paycheck Protection Program loan portal to PPP-eligible lenders with $1 billion or less in assets at 9 a.m. (Eastern time) tomorrow, Jan. 15.
January 14, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA urges OCC to withdraw CRA survey
ICBA and other groups called on the OCC to withdraw the CRA Information Collection Survey that was published in the Federal Register in December.
January 14, 2021 |
ICBA NewsWatch Today
CRA OCC
CFPB issues guidance on Limited English Proficiency consumers
The Consumer Financial Protection Bureau issued guidance that encourages financial institutions to better serve Limited English Proficiency consumers.
January 14, 2021 |
ICBA NewsWatch Today
Compliance Compliance
ICBA backs efforts to recapitalize GSEs
ICBA said it strongly supports Federal Housing Finance Agency Director Mark Calabria’s efforts to fully recapitalize Fannie Mae and Freddie Mac.
January 14, 2021 |
ICBA NewsWatch Today
Housing Finance/GSEs
SBA reopening for more lenders Friday
The Small Business Administration just announced that it will reopen the Paycheck Protection Program loan portal to PPP-eligible lenders with $1 billion or less in assets this Friday, Jan. 15.
January 13, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA Statement on Conservatorship of Fannie Mae, Freddie Mac
Independent Community Bankers of America President and CEO Rebeca Romero Rainey issued a statement on the conservatorship of Fannie Mae and Freddie Mac.
January 13, 2021 |
ICBA NewsWatch Today
Federal Housing Finance Agency Housing Finance/GSEs
IRS redirecting, reissuing some EIP2s
The IRS said it is working with the tax-preparation industry to redirect second Economic Impact Payments that for some recipients went to temporary bank accounts established when their 2019 tax returns were filed.
January 11, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
SBA issues PPP resources ahead of launch
The SBA on Friday and over the weekend released a series of forms and guidance for the next round of Paycheck Protection Program lending starting for certain lenders today.
January 11, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA: FHFA approval process should expand GSE transparency
ICBA submitted a comment letter to the Federal Housing Finance Agency on its proposed rule that outlines the process of prior approval for Fannie Mae and Freddie Mac products
January 11, 2021 |
ICBA NewsWatch Today
Federal Housing Finance Agency Housing Finance/GSEs
Community Banks: The Road to Bipartisan Solutions
The Independent Community Bankers of America congratulates members of the 117th Congress for serving the nation at this critical time.
January 08, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA's Open Letter to the 117th Congress
ICBA believes that the policy recommendations outlined in this letter will play a critical role in creating a robust post-pandemic recovery and charting a course for inclusive growth and a more competitive economy that serves small businesses and consumers.
January 08, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
SBA begins implementing next round of PPP
The Small Business Administration last night issued several documents on the next round of the Paycheck Protection Program authorized by the end-of-year stimulus package. Here's the latest.
January 07, 2021 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
EIDL advance fix in effect as SBA writes new PPP rules
While the SBA writes new rules on the next round of the Paycheck Protection Program, the ICBA-advocated fix to Economic Injury Disaster Loan advances is effective immediately and retroactive.
January 05, 2021 |
ICBA NewsWatch Today
Crisis Preparedness Lending
2020 in Review: ICBA members are a strong and active voice
More than 9,000 community bankers sent more than 65,000 messages to Congress and Federal regulators in 2020. Let’s review what community banks did this year on the advocacy front.
January 05, 2021 |
ICBA NewsWatch Today
Advocacy
IRS: 13M EIPs going to temporary tax-prep accounts
The IRS said roughly 13 million second-round Economic Impact Payments went to temporary accounts used by the tax-preparation industry. Those payments—out of some 113 million in EIP2 ACH payments—will be returned to the IRS, the agency said in a call on Monday.
January 05, 2021 |
ICBA NewsWatch Today
Payments
ICBA backs state standards for nonbank mortgage servicers
ICBA said it largely supports a Conference of State Banking Supervisors proposal to establish regulatory standards for nonbank mortgage servicers. The CSBS proposal offers prudential-like standards that states could approve for supervising servicers.
January 05, 2021 |
ICBA NewsWatch Today
Mortgage Rules
CFPB issues annual threshold adjustments
The Consumer Financial Protection Bureau issued three annual threshold adjustment final rules, effective Jan. 1, 2021.
January 04, 2021 |
ICBA NewsWatch Today
Compliance Compliance
Congress overrides defense bill veto advancing 'beneficial owner' reform
In one of the last votes of the 116th Congress, lawmakers overturned President Trump's veto of a defense spending bill advancing ICBA-advocated BSA/AML reforms.
January 04, 2021 |
ICBA NewsWatch Today
Compliance
CEO Alert: Treasury issues Economic Impact Payment Details
Following this week's signing of the economic stimulus package into law, the federal government released information on the distribution of Economic Impact Payments to individuals and families. Here's what we know now.
December 29, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
CSBS files complaint against OCC regarding a special purpose national charter application
The Conference of State Bank Supervisors filed a complaint in the U.S. District Court for the District of Columbia opposing the OCC’s creation of a new national bank charter for nonbank companies and its impending approval of a charter application from Figure Technologies Inc.
December 23, 2020 |
ICBA NewsWatch Today
OCC
Romero Rainey recaps extraordinary year, thanks bankers for “selfless response”
ICBA President and CEO Rebeca Romero Rainey recaps the year’s challenges and accomplishments in a message to community bankers.
December 23, 2020 |
ICBA NewsWatch Today
ICBA updates FAQs on stimulus payments
As Americans await news about the stimulus bill and the prospect of receiving direct Economic Impact Payments, ICBA has compiled answers to the top issues impacting community banks.
December 23, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Romero Rainey: Stimulus bill contains community bank-advocated provisions
Months of relentless advocacy by ICBA and community bankers, with the support of their small business customers, helped secure ICBA-advocated provisions.
December 22, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
CFPB issues advisory opinion on SPCPs
The Consumer Financial Protection Bureau issued an advisory opinion to address regulatory uncertainty regarding Regulation B related to special purpose credit programs to meet special social needs.
December 22, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Compliance Compliance
Supplemental guidance issued on SolarWinds attack
The Department of Homeland Security and Cybersecurity and Infrastructure Security Agency issued supplemental guidance to its alert for affected organizations to help mitigate exposure related to the supply chain attack on the SolarWinds Orion Platform.
December 22, 2020 |
ICBA NewsWatch Today
Cybersecurity
Congress passes stimulus deal with community bank-advocated provisions
Through tens of thousands of phone calls and direct messages to your members of Congress, you made your voices heard, community bankers, and once again Washington paid attention.
December 22, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Congress announces stimulus deal outline
Congressional leaders announced the outline of a deal for an economic stimulus package and year-end spending bill, with passage expected as soon as today.
December 21, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Community Bank Provisions of Bipartisan Bicameral Stimulus Package
Congress is expected to vote this week on legislation designed to provide economic relief for communities, small businesses, families, and individuals affected by the COVID-19 pandemic as well as public health measures.
December 21, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Agencies propose standards for computer security incident notifications
Federal banking agencies issued a proposal that would require banks to promptly notify their primary federal regulator after a computer security incident.
December 21, 2020 |
ICBA NewsWatch Today
Cybersecurity
FinCEN proposes virtual currency recordkeeping rules
The Financial Crimes Enforcement Network issued a proposed rule to increase transparency of certain transactions involving convertible virtual currency or digital assets with legal tender status.
December 21, 2020 |
ICBA NewsWatch Today
Compliance Cybersecurity Payments Financial Crimes Enforcement Network
SolarWinds criminals narrow follow-up attacks: Microsoft
The cyber criminals who targeted the SolarWinds Orion Platform appear to have limited their follow-up attacks to a relatively small number of IT and government enterprises, according to a blog post from Microsoft President Brad Smith.
December 21, 2020 |
ICBA NewsWatch Today
Cybersecurity
CFPB issues follow-up debt-collection rule
The Consumer Financial Protection Bureau issued a final rule to implement Fair Debt Collection Practices Act requirements for certain consumer disclosures. The rule requires debt collectors to provide detailed disclosures at the outset of collection communications.
December 21, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Compliance
CISA follow-up call today on SolarWinds
The Cybersecurity and Infrastructure Security Agency today is hosting a follow-up call on the supply chain attack on the SolarWinds Orion Platform and subsequent customer breaches.
December 18, 2020 |
ICBA NewsWatch Today
Cybersecurity
NCUA approves subordinated debt rule
The National Credit Union Administration board approved an ICBA-opposed final rule that will allow the largest and most complex credit unions to issue subordinated debt to institutional investors.
December 18, 2020 |
ICBA NewsWatch Today
Credit Unions
Agencies adjust CRA asset thresholds
Federal regulators announced the annual adjustment to Community Reinvestment Act thresholds. Effective Jan. 1, the “small bank” or “small savings association” designation applies to institutions that as of Dec. 31 of either of the prior two calendar years had assets of less than $1.322 billion.
December 18, 2020 |
ICBA NewsWatch Today
Compliance CRA
FDIC study: Community banks critical to key economic areas
The FDIC issued a new study that found community banks serve a critical role in providing access to credit in several key areas of the U.S. economy, particularly commercial real estate, small businesses, and agriculture.
December 17, 2020 |
ICBA NewsWatch Today
Federal Deposit Insurance Corporation
NCUA board meeting today on subordinated debt
The National Credit Union Administration board is scheduled to meet at 10 a.m. (Eastern time) today to vote on an ICBA-opposed final rule allowing credit unions to issue subordinated debt as an alternative form of capital.
December 17, 2020 |
ICBA NewsWatch Today
Credit Unions
SolarWinds: What community banks need to know
The supply chain attack on the SolarWinds Orion Platform and subsequent customer breaches is affecting every corner of the economy, including community banking, ICBA President and CEO Rebeca Romero Rainey wrote.
December 17, 2020 |
ICBA NewsWatch Today
Cybersecurity
SolarWinds-related breaches: What community banks need to know
The supply chain attack on the SolarWinds Orion Platform, and the subsequent breaches to its customers, is a significant cybersecurity event that is affecting every corner of the public and private sectors, including community banking.
December 16, 2020 |
ICBA NewsWatch Today
Cybersecurity
FDIC proposes amendments to SAR regs
The FDIC proposed a rule to amend the agency’s Suspicious Activity Report regulation. The proposal would permit the FDIC to issue additional, case-by-case exemptions from SAR filing requirements to FDIC-supervised institutions.
December 16, 2020 |
ICBA NewsWatch Today
Compliance
ICBA: CFPB should narrow 1071 reporting plan
The Consumer Financial Protection Bureau's outline of proposals for implementing small-business data collection and reporting rules is too broad and should be narrowed, ICBA said.
December 15, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
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