ICBA Newsroom
The ICBA Newsroom collects and centralizes all the NewsWatch Today articles, press releases, blog posts, advocacy letters and other news that impacts community bankers.
CFPB outlines consent order termination process
The Consumer Financial Protection Bureau issued a policy statement outlining the process of applying for early termination of administrative consent orders.
October 06, 2020 |
ICBA NewsWatch Today
CFPB
FDIC to Congress: We're working on PPP asset-threshold impact
The FDIC told a group of House Republicans that it is exploring options to address the impact of Paycheck Protection Program loans on bank and bank holding company asset thresholds.
October 05, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Romero Rainey: Call Congress on PPP forgiveness
ICBA President and CEO Rebeca Romero Rainey urged community bankers to call their members of Congress and enlist the support of small-business contacts on behalf of PPP forgiveness legislation.
October 05, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
OCC issues CRA community bank resources
The OCC issued a Small Bank Compliance Guide and other resources on its Community Reinvestment Act final rule, which took effect Oct. 1.
October 05, 2020 |
ICBA NewsWatch Today
Compliance
SBA issues change-of-ownership procedures for PPP borrowers
The SBA issued a notice on the required procedures for changes of ownership of Paycheck Protection Program borrowers.
October 05, 2020 |
ICBA NewsWatch Today
Advocacy Lending
IRS: Lenders shouldn't report PPP loan forgiveness
The IRS recently issued guidance clarifying that lenders should not file information returns or furnish payee statements to report the amount of qualifying forgiveness on PPP loans.
October 05, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
ICBA working with agencies on reducing TRID burden
ICBA announced a collaboration with the Federal Reserve and Consumer Financial Protection Bureau to test certain community bank-inspired improvements to the TILA-RESPA Integrated Disclosure Rule.
October 02, 2020 |
ICBA NewsWatch Today
Compliance
Fed's Brainard: Community banks key to CRA modernization
The Federal Reserve relied on ICBA and community bank input in developing its recent advance notice of proposed rulemaking on modernizing Community Reinvestment Act regulations, Fed Governor Lael Brainard told ICBA community bankers.
October 02, 2020 |
ICBA NewsWatch Today
CRA
ICBA to CFPB: Expand 'seasoned' QM plan
ICBA encouraged the CFPB to expand on its proposal to create a new category of "seasoned" qualified mortgages.
October 02, 2020 |
ICBA NewsWatch Today
CFPB
FinCEN warns of cryptocurrency risk
Banks should expect examiners and the Financial Crimes Enforcement Network to ask about risk exposure related to virtual currencies, FinCEN Director Kenneth Blanco said.
October 01, 2020 |
ICBA NewsWatch Today
Cybersecurity Technology
Flood insurance extension passes
The Senate passed a short-term spending package that includes a one-year extension of the National Flood Insurance Program.
October 01, 2020 |
ICBA NewsWatch Today
Flood Insurance
Enlist small businesses in PPP push
ICBA is now calling on community bankers to enlist small-business customers in urging Congress to immediately pass legislation to simplify Paycheck Protection Program forgiveness.
October 01, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Bowman: Community banks critical to PPP
Community banks were essential to the success of the Paycheck Protection Program by serving the smallest businesses outside the focus of larger banks, Federal Reserve Governor Michelle "Miki" Bowman said.
October 01, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Lending
ICBA, agency roundtable on homeownership today
ICBA President and CEO Rebeca Romero Rainey is scheduled to join top regulators at 3 p.m. (Eastern time) today for a virtual roundtable discussion on homeownership.
October 01, 2020 |
ICBA NewsWatch Today
Housing Finance/GSEs
Comment Letter Regarding DOJ's Bank Merger Competitive Review Guidelines
The competitive landscape of the banking industry has changed substantially since the Bank Merger Competitive Review Guidelines were adopted in 1995. ICBA strongly believes it is appropriate to update the approach to reviewing bank mergers.
September 30, 2020 |
ICBA NewsWatch Today
Too-Big-To-Fail/Systemic Risk
Preserving the Integrity of the Bank Charter: The Community Bank Perspective
Community banks welcome technological innovation, but we must also recognize that technological change underscores the importance of a robust legal framework to ensure consumer protection as well as the safety and soundness of our institutions.
September 29, 2020 |
ICBA NewsWatch Today
Commerce & Banking Payments Fintech Regulation
Virtual BSA/AML Institute in November
With the regulatory agencies committing to tougher and more inclusive BSA/AML exams, Community Banker University is hosting an upcoming BSA/AML Institute.
September 29, 2020 |
ICBA NewsWatch Today
Compliance
PPP loan-forgiveness problems make news
Politico reported on the frustrations of community banks and other lenders with the Paycheck Protection Program's loan-forgiveness process.
September 29, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
ICBA opposes threshold change on securities filings
ICBA filed a comment letter opposing the SEC's proposal to raise the threshold over which institutional investment managers are required to file quarterly Form 13F reports.
September 29, 2020 |
ICBA NewsWatch Today
SEC
Hearing on fintech payments framework
While Congress continues to work on another stimulus package, the House Financial Services Committee has a virtual hearing this week on fintech payments.
September 28, 2020 |
ICBA NewsWatch Today
Fintech Regulation
Regulator council backs stricter GSE capital standards
The Financial Stability Oversight Council largely endorsed the Federal Housing Finance Agency's proposal to raise capital requirements on Fannie Mae and Freddie Mac.
September 28, 2020 |
ICBA NewsWatch Today
Lending Mortgage Rules
ICBA to Congress: Simplify PPP forgiveness
ICBA urged Congress to immediately pass stand-alone legislation to simplify Paycheck Protection Program loan forgiveness to preserve the success of the program.
September 28, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Congress to agencies: Act on PPP asset-threshold impact
ICBA's push for policymakers to address the impact of Paycheck Protection Program loans on regulatory asset thresholds continued making headway.
September 25, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
ICBA pressing PPP relief in hearing statement
ICBA today is repeating its call for a simplified Paycheck Protection Program forgiveness process in a statement for a House subcommittee hearing.
September 25, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
IRS: Lenders shouldn't report PPP loan forgiveness
The IRS issued guidance clarifying that lenders should not file information returns or furnish payee statements to report the amount of qualifying forgiveness on Paycheck Protection Program loans.
September 25, 2020 |
ICBA NewsWatch Today
FHFA again extends forbearance purchases
The Federal Housing Finance Agency said Fannie Mae and Freddie Mac will extend from Sept. 30 to Oct. 31 the deadline on buying qualified loans in forbearance.
September 25, 2020 |
ICBA NewsWatch Today
Federal Housing Finance Agency
ICBA supports FDIC program for third-party compliance
ICBA said it supports an FDIC standard-setting organization and voluntary certification program that would ease the process of vetting and partnering with fintechs and other third parties.
September 23, 2020 |
ICBA NewsWatch Today
Compliance
PPP complexity could limit effectiveness: GAO
The complexity and lack of guidance surrounding Paycheck Protection Program loan forgiveness could limit the effectiveness of future rounds of the program, the GAO reported.
September 23, 2020 |
ICBA NewsWatch Today
House passes ICBA-backed minority bank bill
The House passed ICBA-supported legislation that would modify regulatory processes to support Minority Depository Institutions.
September 23, 2020 |
ICBA NewsWatch Today
MDI
Treasury, IRS lack info on EIP non-filers: GAO
The Treasury Department and IRS lack updated information on how many eligible Economic Impact Payment recipients have yet to receive their funds, the GAO said.
September 23, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Lending
FDIC working on PPP asset-threshold impact: McWilliams
The FDIC is exploring options to address the impact of Paycheck Protection Program loans on regulatory asset thresholds, FDIC Chairman Jelena McWilliams told ICBA.
September 21, 2020 |
ICBA NewsWatch Today
Fed updates FAQs on Main Street Lending Program
The Federal Reserve Board updated its frequently asked questions on the Main Street Lending Program to clarify expectations regarding lender underwriting.
September 21, 2020 |
ICBA NewsWatch Today
Lending
ICBA seeks PPP accounting simplification
ICBA asked the federal banking regulators to allow community banks to recognize Paycheck Protection Program fees as income in their call reports.
September 21, 2020 |
ICBA NewsWatch Today
New FDIC academic challenge focuses on community banks
The FDIC launched the agency’s first-ever Academic Challenge, which will be focused on the effects of community banks on local economic development.
September 21, 2020 |
ICBA NewsWatch Today
FDIC
Fed vote today on CRA reform notice
The Federal Reserve Board is scheduled to vote today on an advance notice of proposed rulemaking on Community Reinvestment Act regulation.
September 21, 2020 |
ICBA NewsWatch Today
CRA
Push continues on next stimulus package
ICBA is calling on community bankers to urge lawmakers to include common-sense policies benefiting local communities in the next economic stimulus package.
September 15, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
FinCEN issues AML standards for unregulated entities
The Financial Crimes Enforcement Network issued a Bank Secrecy Act final rule that requires minimum anti-money-laundering standards for banks without a federal functional regulator.
September 15, 2020 |
ICBA NewsWatch Today
BSA/AML
ICBA raises questions ahead of credit union advocacy event
ICBA continues urging Congress to "Wake Up" this week as credit union advocates meet with lawmakers during the National Association of Federally-Insured Credit Unions' Virtual Congressional Caucus.
September 15, 2020 |
ICBA NewsWatch Today
HUD finalizes ICBA-backed 'disparate impact' rule
The Department of Housing and Urban Development recently finalized an ICBA-supported rule to amend its interpretation of the Fair Housing Act’s "disparate impact" standard.
September 15, 2020 |
ICBA NewsWatch Today
Senate stimulus package includes ICBA priorities
Senate Republicans introduced a scaled-back coronavirus relief package that includes ICBA-advocated provisions contained in previous drafts.
September 09, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
ICBA backs extension of patent litigation program
ICBA and other members of the Quality Patents Coalition expressed support for a one-year extension of the Patent and Trademark Office's program for re-examining business-method patents to prevent litigation.
September 09, 2020 |
ICBA NewsWatch Today
NCUA needs expanded third-party oversight: IG report
The National Credit Union Administration needs authority over credit union service organizations and vendors to identify and reduce risks they pose to credit unions, the agency's inspector general said.
September 09, 2020 |
ICBA NewsWatch Today
State assistance program requires separate accounts
The new Lost Wage Assistance program that state unemployment agencies are administering requires states to use separate bank accounts from what they use for unemployment insurance and Pandemic Unemployment Assistance benefits.
September 09, 2020 |
ICBA NewsWatch Today
ICBA offers alternative to redefining QM
ICBA expressed concerns with the Consumer Financial Protection Bureau's proposal to change its Qualified Mortgage definition to a price-based approach.
September 09, 2020 |
ICBA NewsWatch Today
CFPB Housing Finance/GSEs
Agencies extend flood insurance comment period
Federal regulators said they will extend until Nov. 3 the comment period on a proposal to revise interagency questions and answers on flood insurance.
September 02, 2020 |
ICBA NewsWatch Today
Compliance Compliance
CFPB releases 2021 HMDA guide
The Consumer Financial Protection Bureau released the 2021 Filing Instructions Guide for Home Mortgage Disclosure Act data.
August 24, 2020 |
ICBA NewsWatch Today
Compliance Compliance
CFPB proposes "seasoned" QMs
The Consumer Financial Protection Bureau issued a notice of proposed rulemaking to create a new category of "seasoned" qualified mortgages.
August 19, 2020 |
ICBA NewsWatch Today
Compliance Compliance
FinCEN issues statement on BSA enforcement
The Financial Crimes Enforcement Network issued a statement on its approach to enforcing Bank Secrecy Act rules and regulations.
August 19, 2020 |
ICBA NewsWatch Today
Compliance Compliance
ICBA calls for withdrawal of misguided GSE directives
ICBA is calling for the Federal Housing Finance Agency and Fannie Mae and Freddie Mac to immediately rescind the decision to charge a 0.5 percent fee on refinance mortgages.
August 17, 2020 |
ICBA NewsWatch Today
Housing Finance/GSEs
Fed article explores “token-based and “account-based” digital currency distinctions
A New York Fed blog by Rod Garratt, Michael Lee, Brendan Malone, and Antoine Martin explores common distinctions made between “token-based” and “account-based” digital currencies.
August 17, 2020 |
ICBA NewsWatch Today
Cybersecurity
Blog discusses intersection between fintech and regulation
Unless you have been living on a desert island for the past few years, you would be hard-pressed to miss the technological revolution that is sweeping our nation’s financial system and the larger global economy, ICBA’s Chris Cole and Charles Potts write in a recent Main Street Matters blog.
August 17, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
Regulators clarify enforcement actions for BSA/AML violations
The federal financial regulatory agencies issued a joint statement clarifying their enforcement approach for Bank Secrecy Act/anti-money laundering obligations and the circumstances under which an agency would take action to address BSA/AML deficiencies.
August 17, 2020 |
ICBA NewsWatch Today
BSA/AML
ICBA Responds to GSE decision to impose 50bp fee on mortgage refinances
Plans to impose a 50 basis point fee on most refinance mortgages delivered to Fannie Mae and Freddie Mac after Sept. 1 will unnecessarily raise the cost of mortgage credit for consumers.
August 14, 2020 |
ICBA NewsWatch Today
Housing Finance/GSEs
Op-ed notes rising credit union acquisitions in the Midwest
The recent purchase of West End Bank by 3Rivers Federal Credit Union last month, is part of a disturbing trend of large, billion-dollar credit unions buying small community banks, writes Thomas Aiello of the National Taxpayers Union.
August 14, 2020 |
ICBA NewsWatch Today
Credit Unions
ICBA ThinkTECH partner named top accelerator program by Finovate
ICBA’s ThinkTECH Accelerator partner, The Venture Center, will be recognized during the Finovate fall virtual conference in September for its efforts to nurture quality fintech companies and prime them for success.
August 14, 2020 |
ICBA NewsWatch Today
Grassroots push continues amid stimulus debate
As negotiations over the next emergency stimulus package continue, ICBA is calling on community bankers to urge needed reforms.
August 14, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
ICBA kicks off ThinkTECH 3.0
ICBA announced the kickoff of its third ICBA ThinkTECH Accelerator program in partnership with The Venture Center.
August 13, 2020 |
ICBA NewsWatch Today
Blog discusses intersection between fintech and regulation
Unless you have been living on a desert island for the past few years, you would be hard-pressed to miss the technological revolution that is sweeping our nation’s financial system and the larger global economy, ICBA’s Chris Cole and Charles Potts write in a new blog post.
August 13, 2020 |
ICBA NewsWatch Today
Cybersecurity
Kennedy to FDIC: Stop companies from taking advantage of ILC loophole
Sen. John Kennedy (R-La.) wrote to FDIC Chairman Jelena McWilliams urging her not to allow industrial loan companies to exploit a loophole in the Bank Holding Company Act during the coronavirus pandemic.
August 13, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Lending
CISA issues alert on SBA COVID-19 relief website attack
The Cybersecurity and Infrastructure Security Agency issued an alert concerning an unknown malicious cyber actor spoofing the Small Business Administration's COVID-19 relief webpage via phishing emails.
August 13, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Cybersecurity
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