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.
FinCEN issues FAQs on customer due diligence
The Financial Crimes Enforcement Network issued responses to three frequently asked questions regarding customer due diligence requirements for covered financial institutions.
August 04, 2020 |
ICBA NewsWatch Today
Compliance
Independent Banker covers core negotiations
The August issue of Independent Banker magazine focuses on how community banks can get the most out of contract negotiations with core providers.
August 04, 2020 |
ICBA NewsWatch Today
Advocacy
ICBA posts guide on Economic Injury Disaster Loan liens
ICBA posted a new guide to Small Business Administration lien requirements on Economic Injury Disaster Loans after seeking SBA input on its treatment of EIDLs.
August 04, 2020 |
ICBA NewsWatch Today
Small biz switching to community banks: WSJ
Many small businesses have switched from large banks to community banks amid the COVID-19 pandemic because of their successful implementation of the Paycheck Protection Program, The Wall Street Journal reported.
August 04, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Agencies issue principles as loan-accommodation periods end
Federal regulators released risk management and consumer protection principles for financial institutions to consider while working with borrowers as initial coronavirus-related loan accommodation periods come to an end.
August 04, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
ICBA continues support for House PPP forgiveness bill
ICBA and other groups expressed strong support for the House version of ICBA-advocated legislation to forgive Paycheck Protection Program loans under $150,000.
August 03, 2020 |
ICBA NewsWatch Today
ICBA backs legal challenge to OCC fintech charter
ICBA filed a friend-of-the-court brief supporting the New York Department of Financial Services lawsuit challenging the Office of the Comptroller of the Currency's special-purpose national bank charter for fintech companies.
August 03, 2020 |
ICBA NewsWatch Today
OCC
House passes postal banking amendment
The House passed an ICBA-opposed amendment to a 2021 spending bill that would fund a postal banking pilot program at the U.S. Postal Service.
August 03, 2020 |
ICBA NewsWatch Today
Government Banks
ICBA backs limited scope of debt-collection rule
ICBA said it supports how the Consumer Financial Protection Bureau structured its notice of proposed rulemaking on disclosures for collecting time-barred debt, or old debt that is no longer legally collectible.
August 03, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
FHFA extends policy on forbearance loan purchases
The Federal Housing Finance Agency extended a temporary policy that allows for the purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria.
August 03, 2020 |
ICBA NewsWatch Today
Mortgage Rules
ICBA continues pushback against postal banking amendment
ICBA continued pushing back against a pending amendment to a 2021 spending bill that would fund a postal banking pilot program at the U.S. Postal Service.
July 31, 2020 |
ICBA NewsWatch Today
Government Banks
Stimulus grassroots push continues
ICBA continues calling on community bankers to use its Be Heard grassroots action center to urge Congress to advance ICBA's specific recommendations in the next stimulus package
July 31, 2020 |
ICBA NewsWatch Today
ICBA Reinsurance Announces New Board Member
ICBA Reinsurance, the captive reinsurance company of the Independent Community Bankers of America, today announced that William Loving, president and CEO of Pendleton Community Bank Inc. in Franklin, West Virginia, was elected to the ICBA Reinsurance board of directors.
July 31, 2020 |
Press Release
CFPB posts new HMDA FAQs
The Consumer Financial Protection Bureau released new frequently asked questions on the Home Mortgage Disclosure Act.
July 31, 2020 |
ICBA NewsWatch Today
Compliance
Next ICBA advocacy briefing set for Monday
ICBA scheduled its next Community Bank Briefing on Paycheck Protection Program loan forgiveness and other regulatory issues.
July 31, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
ICBA seeks clarity on Economic Injury Disaster Loan liens
ICBA is seeking clarity from the SBA on its treatment of Economic Injury Disaster Loans.
July 31, 2020 |
ICBA NewsWatch Today
Advocacy
NCUA finalizes field-of-membership rule
The National Credit Union Administration finalized its embattled field-of-membership rule significantly expanding the service areas in which community credit unions can do business.
July 31, 2020 |
ICBA NewsWatch Today
Credit Unions
PPP forgiveness bill introduced in House
ICBA thanked Rep. Chrissy Houlahan (D-Pa.) for introducing the House version of ICBA-advocated legislation to forgive Paycheck Protection Program loans under $150,000.
July 30, 2020 |
ICBA NewsWatch Today
Groups join ICBA in urging closure of ILC loophole
ICBA and other groups urged Congress to impose a three-year moratorium on industrial loan company licensing applications.
July 30, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Kraninger encourages input on reg environment
Consumer Financial Protection Bureau Director Kathleen Kraninger encouraged public input on the bureau's request for information on the regulatory environment.
July 30, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
ICBA opposes OCC talk of narrow-purpose payments charter
ICBA and other groups expressed opposition to the OCC's recent discussions to offer a narrowly focused payments charter.
July 30, 2020 |
ICBA NewsWatch Today
Payments
Senate stimulus plan includes PPP reforms
Senate Republicans released initial proposals for the next round of stimulus legislation that include several ICBA-advocated provisions, though ICBA will continue working with lawmakers to craft the legislation.
July 28, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Op-ed: Congress should close ILC loophole
Congress should pass pending legislation to close the industrial loan company loophole, ICBA President and CEO Rebeca Romero Rainey wrote in an op-ed on Medium.
July 28, 2020 |
ICBA NewsWatch Today
Lending
CFPB seeking feedback on small-biz reporting costs
The Consumer Financial Protection Bureau is conducting a survey of institutions offering small-business credit products to determine potential one-time costs associated with complying with Section 1071 of the Dodd Frank Act.
July 28, 2020 |
ICBA NewsWatch Today
Compliance
FDIC names new community bank committee members
ICBA congratulates the new members of the FDIC Advisory Committee on Community Banking, which provides advice and recommendations to the agency.
July 23, 2020 |
ICBA NewsWatch Today
Advocacy
ICBA seeks feedback on remote work regs
ICBA and the Financial Services Sector Coordinating Council are seeking community banker feedback on the longer-term implications of maintaining a remote workforce after COVID-19.
July 23, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
PPP data show community banks stepping up: blog
The SBA's release of Paycheck Protection Program loan data confirms that community banks have led the way in supporting the economic recovery in local communities.
July 23, 2020 |
ICBA NewsWatch Today
Employee retention tax credit deadline is July 31
July 31 is the second-quarter deadline to report the Employee Retention Tax Credit to the IRS on Form 941s.
July 23, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Taxes & Budget
ICBA pushing stimulus recs as Senate debate nears
With the Senate expected to begin debating the next economic stimulus package this week, ICBA is calling on community bankers to weigh in with recommendations that support local communities.
July 21, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
CFPB updates Reg Z thresholds
The Consumer Financial Protection Bureau issued a final rule with its annual amendments to dollar amounts for several provisions in Regulation Z.
July 21, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Compliance
Credit union favoritism harms troops: op-ed
A federal law allowing tax-exempt credit unions to operate rent-free is shrinking the availability of banking options to service members, ICBA community banker and military veteran James Smith wrote this week in a Military Times op-ed.
July 21, 2020 |
ICBA NewsWatch Today
Military Lending
Stats show community bank PPP impact: blog
A recent report by the Institute for Local Self-Reliance shows how vital community banks have been to the COVID-19 response, ICBA President and CEO Rebeca Romero Rainey wrote in Main Street Matters.
July 21, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
FHFA extends housing goals due to COVID-19
The Federal Housing Finance Agency's proposed 2021 housing goals for Fannie Mae and Freddie Mac that are unchanged from 2018-2020 due to the COVID-19 pandemic.
July 21, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
USDA, SBA loans exempt from environmental rule
The Council on Environmental Quality issued an ICBA-supported final rule to exempt USDA and SBA guaranteed loans from proposed environmental impact statement requirements under the National Environmental Protection Act.
July 20, 2020 |
ICBA NewsWatch Today
Lending
Op-ed: Credit union favoritism harms troops
A federal law allowing tax-exempt credit unions to operate rent-free is shrinking the availability of banking options to service members, ICBA community banker and military veteran James Smith wrote.
July 20, 2020 |
ICBA NewsWatch Today
Military Lending
SBA planning PPP loan-forgiveness portal
The SBA will soon release a portal to accept Paycheck Protection Program loan-forgiveness applications, Administrator Jovita Carranza told the House Small Business Committee. The SBA is working with the Treasury Department to offer the portal by the beginning of August, she said.
July 20, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Lending
Stats show community bank PPP impact: blog
A recent report by the Institute for Local Self-Reliance shows how vital community banks have been to the COVID-19 response, ICBA President and CEO Rebeca Romero Rainey wrote in Main Street Matters.
July 20, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Lending
ICBA, states provide stimulus plan to Congress
ICBA and 42 state community banking associations issued specific recommendations for the next economic stimulus package as Congress prepares new legislation. Meanwhile, community bankers can weigh in via ICBA's Be Heard grassroots action center.
July 17, 2020 |
ICBA NewsWatch Today
National Taxpayers Union targets credit union push
Citing problems with credit union industry transparency, oversight, and unfair competition, the National Taxpayers Union told key members of Congress that it opposes expanding the credit union member-business-lending cap unless several conditions are met.
July 17, 2020 |
ICBA NewsWatch Today
Credit Unions
FinCEN issues advisory on Twitter scam
The Financial Crimes Enforcement Network issued an advisory on a high-profile scam exploiting Twitter accounts to solicit fraudulent virtual currency payments.
July 17, 2020 |
ICBA NewsWatch Today
Cybersecurity
CFPB reports consumer COVID-19 complaints
The Consumer Financial Protection Bureau reported on more than 8,000 complaints it received from January through May that mention the coronavirus or related terms. Mortgage, credit card, and credit or consumer reporting complaints top the list.
July 17, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Crisis Preparedness
Stimulus grassroots needed ahead of Senate debate
With the Senate set to begin debating the next economic stimulus package next week, ICBA is calling on community bankers to use its Be Heard grassroots action center to weigh in with recommendations.
July 15, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
SEC warns of ransomware attacks
The Securities and Exchange Commission issued an alert about recent reports that threat actors are targeting financial institution networks to access internal resources and deploy ransomware.
July 15, 2020 |
ICBA NewsWatch Today
Cybersecurity
Review process for AML deficiencies paused
The Financial Crimes Enforcement Network issued an advisory on the Financial Action Task Force’s reissued list of jurisdictions with strategic deficiencies in countering money laundering, terrorist financing, and proliferation financing.
July 15, 2020 |
ICBA NewsWatch Today
BSA/AML
FSOC to review secondary mortgage market
The Financial Stability Oversight Council will launch an activities-based review of the secondary mortgage market, the Federal Housing Finance Agency said.
July 15, 2020 |
ICBA NewsWatch Today
Mortgage Rules
Community bank PPP share continues climb
Lenders under $10 billion in assets have made some 2.52 million PPP loans worth more than $229 billion through both rounds of funding, according to SBA data through July 10.
July 14, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA seeks updates to Nacha ACH overhaul
ICBA told Nacha that it generally supports a provision in proposed operating rule updates that would employ ACH as a low-cost account-validation method for originators, though it is concerned with the burden on receiving institutions.
July 14, 2020 |
ICBA NewsWatch Today
Compliance
CFPB report touts credit builder loans
The Consumer Financial Protection Bureau released a report on how credit builder loans could help consumers establish credit records and improve the credit scores of those with no outstanding debt. CBLs generally require borrowers to make installment payments before receiving funds.
July 14, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
First monthly PPP reports due tomorrow: SBA
Paycheck Protection Program lenders must submit the first monthly PPP 1502 report by tomorrow, July 15, according to a new procedural notice issued Monday night by the SBA. The SBA said it is granting a two-day grace period for this month's report.
July 14, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Lending
Stimulus campaign continues amid congressional debate
With Congress continuing to debate the next economic stimulus package, community bankers can continue using ICBA's Be Heard grassroots action center to weigh in with recommendations.
July 14, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
House committee passes ag appropriations
The House Appropriations Committee approved fiscal 2021 agriculture and rural development legislation. The bill allows for a combined $153 billion in discretionary and mandatory funding, an increase of $331 million over fiscal 2020.
July 13, 2020 |
ICBA NewsWatch Today
Agriculture
ICBA: Commercial firms shouldn't own banks
ICBA told the FDIC that commercial firms should not own full-service banks or industrial loan companies, even if they are subject to enhanced supervision and regulation.
July 13, 2020 |
ICBA NewsWatch Today
Lending
CFPB reports on debt settlement, credit counseling
The Consumer Financial Protection Bureau released a report documenting changes in how consumers have used debt settlement and credit counseling for unsecured debt.
July 13, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
Support grows for ICBA-backed PPP forgiveness bill
Nearly 140 other organizations joined ICBA in urging Congress to advance legislation that would forgive Paycheck Protection Program loans under $150,000.
July 10, 2020 |
ICBA NewsWatch Today
SoFi ditches ILC push for full-service bank charter
Fintech company SoFi applied for a full-service national bank charter with the OCC after withdrawing its industrial loan company application nearly three years ago, according to reports.
July 10, 2020 |
ICBA NewsWatch Today
Lending
ICBA continues fighting debt plan for largest credit unions
ICBA continued pushing back against a National Credit Union Administration proposal that would allow the largest and most complex credit unions to issue subordinated debt as an alternative form of capital.
July 10, 2020 |
ICBA NewsWatch Today
Credit Unions
ICBA resources follow PPP data release
ICBA this week released talking points and a sample letter to PPP borrowers about the SBA and Treasury Department release of information about individual Paycheck Protection Program loans.
July 09, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
ICBA to Approps panel: Don't expand Farm Credit
ICBA urged the House Appropriations Subcommittee on Defense to ensure the fiscal 2021 defense spending bill does not include any expansion of the Farm Credit System.
July 09, 2020 |
ICBA NewsWatch Today
Agriculture
ICBA urging ILC grassroots outreach
ICBA is calling on community bankers to urge their senators to co-sponsor legislation to close the industrial loan company loophole.
July 09, 2020 |
ICBA NewsWatch Today
Lending
CFPB rescinds part of small-dollar rule
The Consumer Financial Protection Bureau issued a final rule on small-dollar lending that rescinds the mandatory underwriting provisions of the 2017 rule but keeps its payments provisions.
July 08, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Compliance
Independent Banker
Independent Banker is the award-winning monthly member publication of ICBA. Continually rated the best news source by community bankers, IB provides timely, relevant information and insights to help community banks continue to flourish.
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