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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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PPP extension signed into law

President Joe Biden signed into law ICBA-advocated legislation to extend the Paycheck Protection Program ahead of its scheduled expiration. Previously, any PPP application not approved by March 31 could not receive PPP funds.
March 31, 2021 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

EIPs heading to federal beneficiaries

The IRS said it expects to begin issuing additional Economic Impact Payments this weekend to federal beneficiaries who do not normally file a tax return.
March 31, 2021 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

FS-ISAC Coronavirus Update, March 31, 2021

President Biden signed the PPP Extension Act of 2021 into law on Tuesday, a law extending the application deadline, originally set to expire on March 31, to May 31, and providing an additional 30-day period for the Small Business Administration to process application.
March 31, 2021 | News   Advocacy Operational Risk Crisis Preparedness 

ICBA Thanks President for Signing PPP Extension

The Independent Community Bankers of America today thanked President Joe Biden for signing into law ICBA-advocated legislation to extend the Paycheck Protection Program ahead of its March 31 expiration.
March 30, 2021 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

IRS: PPE is tax deductible

The Internal Revenue Service clarified that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of COVID-19 are deductible medical expenses.
March 29, 2021 | ICBA NewsWatch Today   Advocacy Crisis Preparedness Lending 

Deadline for credit union comment letters extended

While ICBA last week submitted its comment letter urging the National Credit Union Administration to withdraw a proposal on credit union services organizations, community banks can still submit comment letters after the agency extended the deadline 30 days.
March 29, 2021 | ICBA NewsWatch Today   Credit Unions 

USDA asks lenders to suspend adverse actions against socially disadvantaged farmers

The USDA’s Farm Service Agency asked lenders to suspend adverse actions against guaranteed farm loan borrowers who are members of socially disadvantaged (SDA) groups while the agency develops a method to pay off SDA borrowers' direct and guaranteed loans.
March 29, 2021 | ICBA NewsWatch Today   Agriculture USA Farm Loan Programs 

ICBA supports bill offering rural lending tax relief

ICBA thanked Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa) for introducing legislation to exempt from taxation interest income on farm real estate and rural mortgage loans.
March 26, 2021 | ICBA NewsWatch Today   Agriculture 

FS-ISAC Coronavirus Update, March 26, 2021

Covid cases in the US are rising again, reversing course after months of decline and threatening another setback in the return to normality, with the seven-day average of new cases jumping to 57,695 Wednesday - 9.5% above the prior week.
March 26, 2021 | News   Advocacy Operational Risk Crisis Preparedness 

ICBA urges credit union capital parity

ICBA called on the NCUA to create a minimum regulatory capital framework that is no less stringent than the Basel III regulatory capital framework in effect for community banks.
March 26, 2021 | ICBA NewsWatch Today   Credit Unions 

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