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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.

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Bipartisan stimulus proposal includes ICBA priorities

Draft proposed legislation released by a bipartisan group of lawmakers includes ICBA-advocated stimulus priorities.
December 15, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

Romero Rainey: Act now on stimulus push

ICBA President and CEO Rebeca Romero Rainey called on community bankers to make a final push for Congress to pass an economic relief package with key stimulus priorities.
December 15, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

FDIC board meeting on ILC parent companies, brokered deposits

The FDIC board of directors is set to meet tomorrow to vote on a final rule to codify its capital, liquidity and source-of-strength requirements for industrial loan company parent companies.
December 14, 2020 | ICBA NewsWatch Today   Lending 

ICBA, state groups continue push for EIDL fix

ICBA and 44 state community banking associations called on Congress to fully forgive Economic Injury Disaster Loan Advances for recipients who also have a Paycheck Protection Program loan.
December 14, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

McWilliams touts "continuous engagement" oversight approach

More regular and informal meetings between banks and regulators to discuss operations and emerging risks could reduce the need for cumbersome quarterly reporting, FDIC Chairman Jelena McWilliams said.
December 14, 2020 | ICBA NewsWatch Today   Regulatory Relief 

CFPB finalizes QM reforms

The Consumer Financial Protection Bureau finalized rules addressing the pending expiration of the "GSE Patch," which exempts Fannie Mae and Freddie Mac mortgage loans from parts of the bureau's Qualified Mortgage rule.
December 11, 2020 | ICBA NewsWatch Today   Compliance 

Senate vote on 'beneficial owner' reform as soon as today

The Senate is expected to vote as soon as today on a compromise defense spending bill that includes a key step toward ICBA-advocated relief from "beneficial ownership" disclosure mandates.
December 11, 2020 | ICBA NewsWatch Today   BSA/AML 

Time running out on stimulus grassroots

With Congress running out of time to pass a stimulus package by year-end, ICBA is calling on community bankers to reach out to their lawmakers and enlist small-business customers on outstanding priorities.
December 11, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

SBA issues FAQ on PPP questionnaires

The SBA updated its Paycheck Protection Program frequently asked questions with guidance on why some PPP borrowers are receiving a loan necessity questionnaire.
December 10, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

Grassroots urgent as stimulus talks heat up

As congressional negotiations over an economic stimulus package heat up, ICBA continues calling on community bankers to urge their lawmakers to include ICBA-advocated provisions.
December 10, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

'Beneficial owner' reform passes House

The House voted 335-78 to pass a compromise defense spending bill that includes a key step toward ICBA-advocated relief from "beneficial ownership" disclosure mandates.
December 09, 2020 | ICBA NewsWatch Today   Financial Crimes Enforcement Network 

ICBA urges Congress to pass stimulus relief

ICBA called on Congress to enact pandemic relief legislation before the close of the 116th Congress.
December 09, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness 

SBA details tax reporting on covered 7(a) payments

The SBA issued a notice on the six months of 7(a), 504, and Microloan payments it is making for borrowers under Section 1112 of the CARES Act.
December 09, 2020 | ICBA NewsWatch Today   Advocacy 

Bowman: Fed to offer best practices on fintech partnerships

The Federal Reserve plans to publish a white paper early next year on community bank partnerships with fintech companies and effective practices for managing those arrangements, Fed Governor Michelle "Miki" Bowman told ICBA community bankers.
December 07, 2020 | ICBA NewsWatch Today   Technology Fintech Innovation Fintech Regulation 

ICBA urges Congress to pass 'beneficial owner' reform

ICBA called on members of Congress to pass a compromise defense spending bill that includes a key step toward ICBA-advocated relief from "beneficial ownership" disclosure mandates.
December 07, 2020 | ICBA NewsWatch Today   BSA/AML 

ARRC issues guide on LIBOR developments

The Alternative Reference Rates Committee released a guide and webinar recording on recent announcements on the transition from U.S. dollar LIBOR.
December 07, 2020 | ICBA NewsWatch Today   Lending 

'Beneficial owner' reform included in defense bill set for final vote

ICBA-advocated legislative language to provide relief from "beneficial ownership" disclosure mandates is included in compromise spending legislation headed to a final congressional vote.
December 04, 2020 | ICBA NewsWatch Today   BSA/AML 

ICBA pushes PPP expense deductibility

ICBA and more than 500 other groups called on Congress to pass a technical correction amending the CARES Act to explicitly provide that PPP loan-forgiveness funds that cover business expenses are tax deductible.
December 04, 2020 | ICBA NewsWatch Today  

Scott, Thompson set to take over House Ag Committee

Rep. David Scott (D-Ga.) will be the next House Agriculture Committee chairman after winning the vote of the House Democratic Caucus.
December 04, 2020 | ICBA NewsWatch Today   Agriculture 

Community bank net income rises 10%: FDIC

Community bank net income increased 10 percent in the third quarter from the same time last year, according to the FDIC's Quarterly Banking Profile.
December 02, 2020 | ICBA NewsWatch Today  

OCC reduces assessments for 2021

The OCC said it is reducing rates in all fee schedules by 3 percent for the 2021 calendar year. The reduced assessments go into effect Jan. 1.
December 02, 2020 | ICBA NewsWatch Today   Compliance 

FBI: cyber criminals targeting web-based email

The FBI recently issued a Private Industry Notification warning that cyber criminals are taking advantage of the work-from-home environment to exploit web-based email applications.
December 02, 2020 | ICBA NewsWatch Today   Cybersecurity Data Security/Fraud 

ICBA: No disparate impact liability under ECOA

ICBA told the Consumer Financial Protection Bureau that "disparate impact" liability is not legally cognizable under the Equal Credit Opportunity Act.
December 02, 2020 | ICBA NewsWatch Today   Consumer Financial Protection Bureau Lending 

CFPB issues final policy on advisory opinions

The Consumer Financial Protection Bureau issued its final policy on advisory opinions, which are designed to provide guidance to entities on outstanding regulatory uncertainty.
December 01, 2020 | ICBA NewsWatch Today   Consumer Financial Protection Bureau Compliance 

Agencies encourage end of LIBOR-based contracts

Federal regulators issued a joint statement encouraging banks to cease entering into new contracts that use U.S. dollar LIBOR as a reference rate as soon as practicable and no later than Dec. 31, 2021, to facilitate the transition away from LIBOR.
December 01, 2020 | ICBA NewsWatch Today   Compliance Lending 

Yellen nominated for Treasury secretary

ICBA congratulated Janet Yellen on her nomination to serve as the next Treasury secretary. In a statement, ICBA President and CEO Rebeca Romero Rainey said Yellen understands the vital role of community banks as a former Federal Reserve chair.
December 01, 2020 | ICBA NewsWatch Today   Department of Treasury 

SBA issues instructions on "loan necessity" questionnaires

The SBA issued to lenders a letter and instructions on the agency's "loan necessity" questionnaire for Paycheck Protection Program loans of $2 million or more.
November 30, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

ICBA calling for lame-duck grassroots

ICBA is calling on community bankers to urge Congress to pass much-needed economic stimulus measures during the lame-duck session.
November 30, 2020 | ICBA NewsWatch Today   Crisis Preparedness Lending 

ICBA guide details EIDL lien requirements

ICBA is reminding community bankers about the procedures for renewing or refinancing a line of credit for a borrower with an Economic Injury Disaster Loan.
November 30, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

ICBA pushes back on PPP 'loan necessity' questionnaire

ICBA has raised questions about an SBA "loan necessity" questionnaire for Paycheck Protection Program loans of $2 million or more that appears to go against the language of the CARES Act.
November 25, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness 

OCC issues proposal on CRA general performance standards

The OCC issued a proposed rule on Community Reinvestment Act general performance standards with a 60-day comment period.
November 25, 2020 | ICBA NewsWatch Today   Compliance CRA 

FHFA raises conforming loan limits for 2021

The Federal Housing Finance Agency increased the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2021.
November 25, 2020 | ICBA NewsWatch Today   Mortgage Rules 

Bills would address EIDL-PPP conflict

ICBA recently expressed strong support for House and Senate legislation that would restore forgiveness for Economic Injury Disaster Loan Advance recipients who also have a Paycheck Protection Program loan.
November 25, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness 

CFPB updates HMDA filing guide

The Consumer Financial Protection Bureau released an update to its Filing Instructions Guide for HMDA data collected in 2021 and reported in 2022.
November 24, 2020 | ICBA NewsWatch Today   Consumer Financial Protection Bureau Compliance 

OCC updates rule on activities and operations

The OCC issued a final rule designed to update or eliminate outdated regulatory requirements.
November 24, 2020 | ICBA NewsWatch Today   Regulatory Relief 

PPP loan forgiveness tops $38B

The Small Business Administration said it has forgiven 367,321 Paycheck Protection Program loans worth $38.4 billion as of noon Sunday.
November 24, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness 

Agencies respond to ICBA push on asset thresholds

Federal regulators announced ICBA-advocated relief from regulatory burdens caused by participating in federal coronavirus response programs.
November 23, 2020 | ICBA NewsWatch Today   Compliance Crisis Preparedness 

ICBA calling for lame-duck grassroots

ICBA is calling on community bankers to urge Congress to pass much-needed economic stimulus measures during the lame-duck session.
November 23, 2020 | ICBA NewsWatch Today  

ICBA seeks comment extension on OCC charter applications

ICBA and other groups asked the OCC to extend the comment period on two national bank charter applications with Dec. 7 deadlines.
November 23, 2020 | ICBA NewsWatch Today   OCC 

Shelton nomination doesn't advance as Brooks gets OCC nod

Judy Shelton's Federal Reserve Board nomination failed to advance in the Senate as supportive Republican Sens. Charles Grassley (Iowa) and Rick Scott (Fla.) quarantined due to COVID-19 exposure.
November 18, 2020 | ICBA NewsWatch Today   Federal Reserve 

ICBA guide details EIDL lien requirements

ICBA is reminding community bankers about the procedures for renewing or refinancing a line of credit for a borrower with an Economic Injury Disaster Loan.
November 18, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

ICBA pushes back on PPP 'loan necessity' questionnaire

ICBA raised questions about an SBA "loan necessity" questionnaire for Paycheck Protection Program loans of $2 million or more that appears to go against the language of the CARES Act.
November 18, 2020 | ICBA NewsWatch Today  

FHFA issues 2021 multifamily loan purchase caps

The Federal Housing Finance Agency said the 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac will be $70 billion for each enterprise.
November 18, 2020 | ICBA NewsWatch Today   Mortgage Rules Federal Housing Finance Agency 

ICBA ThinkTECH Accelerator 2021 registration open

Registration is now open for ICBA ThinkTECH Accelerator 2021, ICBA's collaboration with The Venture Center to foster innovative products and services for community banks.
November 17, 2020 | ICBA NewsWatch Today  

Advocacy push continues during lame-duck Congress

While the 116th Congress winds down in the coming weeks, ICBA's efforts to pass much-needed economic stimulus measures continue unabated, ICBA's Paul Merski writes in a new Main Street Matters post.
November 17, 2020 | ICBA NewsWatch Today   Crisis Preparedness 

OCC rule updates licensing requirements

The OCC released a final rule updating and clarifying licensing policies and procedures. The final rule makes various changes to the OCC’s Rules, Policies, and Procedures for Corporate Activities, 12 CFR part 5.
November 17, 2020 | ICBA NewsWatch Today   Compliance 

CFPB, Colorado AG hosting joint office hours

The Consumer Financial Protection Bureau and Office of the Colorado Attorney General announced joint office hours focused on financial innovation on Dec. 2.
November 17, 2020 | ICBA NewsWatch Today   Consumer Financial Protection Bureau 

Post-election briefing recording available

A recording of ICBA's latest Community Bank Briefing featuring a post-election and regulatory update is available for download.
November 16, 2020 | ICBA NewsWatch Today  

CFPB issues debt-collection compliance guide

The Consumer Financial Protection Bureau released a guide on its compliance aids related to its final rule implementing the Fair Debt Collection Practices Act.
November 16, 2020 | ICBA NewsWatch Today   Compliance Compliance 

ICBA offers new custom grassroots message

ICBA this week launched a new customizable grassroots message for community bankers urging Congress to include common-sense policies in any economic stimulus package.
November 13, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

Payment info in credit reports varies by account type: CFPB

The share of installment-loan credit accounts with payment amount information furnished to credit reporting agencies has trended upward to more than 90 percent, the Consumer Financial Protection Bureau reported.
November 13, 2020 | ICBA NewsWatch Today   Consumer Financial Protection Bureau 

CFPB issues resources on housing help

The Consumer Financial Protection Bureau released brochures, videos, and other resources to help consumers seeking mortgage and housing assistance during the coronavirus national emergency.
November 13, 2020 | ICBA NewsWatch Today   Consumer Financial Protection Bureau Compliance 

DOJ sues to block Visa acquisition of Plaid

The Justice Department sued Visa to stop its $5.3 billion acquisition of Plaid, a fintech firm. The DOJ said Visa is a monopolist in online debit services while Plaid is developing a payments platform that would challenge Visa’s monopoly.
November 06, 2020 | ICBA NewsWatch Today   Fintech Regulation 

ICBA raises questions over CDFI proposal

ICBA expressed concern with a CDFI Fund proposal that would diminish the number of Community Development Financial Institutions and threaten the survival of the program.
November 06, 2020 | ICBA NewsWatch Today   CRA 

CFPB grants no-action letter for BofA small-dollar products

The Consumer Financial Protection Bureau granted a no-action letter to Bank of America for certain small-dollar credit products for BofA customers.
November 06, 2020 | ICBA NewsWatch Today   Consumer Financial Protection Bureau 

Unlimited webinars for educational binge-watching

Community Banker University's Unlimited Webinar Pass helps community bankers keep up with emerging trends and regulatory issues by offering unlimited access to more than 70 live and 100 on-demand webinars.
November 05, 2020 | ICBA NewsWatch Today  

Payments continue going digital: BIS

The Bank for International Settlements reported sizable growth in digital payments across many leading economies prior to the coronavirus pandemic.
November 05, 2020 | ICBA NewsWatch Today   Payments 

EIDL-PPP grassroots push continues

While ICBA works with policymakers to address Economic Injury Disaster Loan Advance deductions from PPP forgiveness amounts, it continues encouraging community bankers and their small-business contacts to weigh in with Congress.
November 04, 2020 | ICBA NewsWatch Today   Advocacy Crisis Preparedness 

Coin Task Force seeks survey responses

The U.S. Coin Task Force is seeking feedback on a five-minute survey on coin circulation disruptions. Survey responses are due by close of business Wednesday, Nov. 11.
November 04, 2020 | ICBA NewsWatch Today   Advocacy 

ICBA keeps up EIDL push as pressure rises

ICBA is urging community bankers to direct borrowers to ICBA's small-business alert addressing Economic Injury Disaster Loan Advance deductions from PPP forgiveness amounts.
November 03, 2020 | ICBA NewsWatch Today  

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