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.
Banking and Consumer Groups Call on Congress to Close ILC Loophole
The Bank Policy Institute, Center for Responsible Lending and Independent Community Bankers of America today urged Congress to impose a three-year moratorium on industrial loan company licensing applications.
July 29, 2020 |
Press Release
Lending
ICBA to Congress: Heed the Economic Recovery Experts
With new Small Business Administration data showcasing the outsized role of community banks in serving small businesses and underserved communities amid the COVID crisis, ICBA is urging the Senate to incorporate needed reforms in the next round of stimulus legislation.
July 28, 2020 |
Press Release
Advocacy Crisis Preparedness Lending
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
Lender Livestock Trust Letter 7-28-20
On behalf of the American Bankers Association and the Independent Community Bankers of America, representing over 52,000 bank locations across the United States, we write to express our concern over possible inclusion of the so-called “Livestock Trust” legislation in the COVID-19 relief package being considered by the Senate.
July 28, 2020 |
News
Agriculture Crisis Preparedness
ICBA Securities Announces New Board Member
ICBA Securities, the broker-dealer subsidiary of the Independent Community Bankers of America, today announced that Jerry Walker, president and CEO of the Independent Community Bankers Association of New Mexico, was elected to the ICBA Securities board of directors.
July 28, 2020 |
Press Release
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
ICBA Services Network Announces New Board of Directors Member
ICBA Services Network, the business services subsidiary of the Independent Community Bankers of America, today announced that Shon Myers, chairman, president and CEO of Farmers & Merchants Bank in Miamisburg, Ohio, was elected to the ICBA Services Network board of directors.
July 27, 2020 |
Press Release
Advocacy
Mastercard white paper: Authentication, intelligence, and the consumer journey
In this brief, you’ll learn how a holistic approach to payments security can dramatically reduce the incidence of digital fraud.
July 27, 2020 |
News
Visa Payments Ecosystem highlights 2Q 2020
The latest "Visa Payments Ecosystem Highlights" report summarizes recent themes and developments associated with key payments players from Q2’CY2020.
July 27, 2020 |
News
Visa American Mood Trend (July 2020)
Visa economists report that consumer confidence is slowly rebounding, Gen Z consumers worry about public health than the economy or their own health, and more.
July 26, 2020 |
News
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
Visa’s U.S. Economic Outlook (July 2020)
Though there are few changes to note since the June Outlook report, the downside risks to the outlook are clearly rising.
July 20, 2020 |
News
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
ICBA, States Offer Stimulus Plan Ahead of Congressional Debate
As the leaders in responding to the economic fallout of COVID-19 and responsible for two-thirds of Paycheck Protection Program loans, community banks today provided Congress with recommendations for the next economic stimulus package.
July 16, 2020 |
Press Release
Advocacy Crisis Preparedness Lending
Pandemic Relief Letter for State Sign-On
Community bankers across the country have worked tirelessly to deliver PPP loans quickly and successfully on behalf of thousands of small businesses. PPP loans could be a lifeline for borrowers, if the terms for forgiveness are flexible and realistic, reflecting the complexity and variability of the current business environment.
July 16, 2020 |
News
Advocacy Crisis Preparedness
FINBOA Announces New Webinar Series: Process Automation Within Reach
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
ICBA Bancard Announces New Board of Directors Members
ICBA Bancard, the payments subsidiary of the Independent Community Bankers of America, today announced that Gregory Hohl, chairman and president of Wahoo State Bank in Wahoo, Nebraska, and Jim Amundson, president and CEO of the Independent Community Bankers of Minnesota, were elected to the ICBA Bancard board of directors.
July 14, 2020 |
Press Release
Visa to discontinue Auto Rental Collision Damage Waiver and Warranty Manager
Effective January 31, 2021, Visa will discontinue the Auto Rental Collision Damage waiver (ARCDW) and Warranty Manager (WM) benefits as mandatory, Visa-funded benefits from the U.S. consumer credit platform except for Visa Infinite cards.
July 14, 2020 |
News
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
ICBA to FDIC: Commercial Firms Shouldn't Own Banks
The Independent Community Bankers of America told the Federal Deposit Insurance Corp. that commercial firms should not own full-service banks or industrial loan companies, even if they are subject to enhanced supervision and regulation
July 10, 2020 |
Press Release
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
ICBA Independent Banker Ranks Community Bank Top Lenders
Independent Banker, the award-winning magazine of the Independent Community Bankers of America and the number-one source for community banking news, announced its rankings of the top community bank loan producers for 2020 in the July issue.
July 10, 2020 |
Press Release
Lending
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
ICBA seeking ILC grassroots outreach
ICBA continues calling on community bankers to urge their senators to co-sponsor legislation to close the industrial loan company loophole.
July 08, 2020 |
ICBA NewsWatch Today
Lending
CFPB ratifies regulations following Supreme Court decision
The Consumer Financial Protection Bureau ratified most regulatory actions it took from Jan. 4, 2012, through June 30, 2020. The CFPB said the move provides the financial marketplace with certainty that the rules are valid following last week's Supreme Court ruling that the bureau's single-director governance structure is unconstitutional.
July 08, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau Compliance
IRS cancels stimulus payments to ineligible recipients
The IRS cancelled outstanding Economic Impact Payment checks issued to recipients who may not be eligible for the stimulus payments, including those who might be deceased.
July 08, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
ICBA offers resources on 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 08, 2020 |
ICBA NewsWatch Today
Visa Small Business Recovery Monitor report, June 2020
Visa’s analysis of current economic data indicates that U.S. small business activity was slowly recovering in June.
July 07, 2020 |
News
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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