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.
ICBA resources follow release of PPP data
Following the SBA and Treasury Department release of information about individual Paycheck Protection Program loans, ICBA released talking points and a sample letter to PPP borrowers about the agency announcement.
July 07, 2020 |
ICBA NewsWatch Today
PPP calculator bill introduced in Senate
ICBA thanked Sens. Angus King (I-Maine) and John Kennedy (R-La.) for introducing legislation to establish a free online calculator to complete Paycheck Protection Program loan-forgiveness forms.
July 07, 2020 |
ICBA NewsWatch Today
House subcommittee set to pass ag appropriations
The House Appropriations Agriculture Subcommittee adopted fiscal 2021 agriculture and rural development legislation.
July 07, 2020 |
ICBA NewsWatch Today
Agriculture
ICBA on PPP extension: Community banks a lifeline
ICBA said community banks will continue working to meet the needs of their communities after Congress passed and President Trump signed a law extending the Paycheck Protection Program application deadline.
July 06, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
ICBA's Merski talks community banks on business podcast
ICBA's Paul Merski discussed the benefits of community banks to small businesses and local communities in a new podcast interview.
July 06, 2020 |
ICBA NewsWatch Today
CFPB begins implementing escrow exemption
The Consumer Financial Protection Bureau issued a proposed rule to implement ICBA-supported relief from mandatory escrow requirements for higher-priced mortgage loans.
July 06, 2020 |
ICBA NewsWatch Today
Compliance Mortgage Rules
Edward Jones applies for ILC
The Jones Financial Companies said it has applied with the FDIC and Utah Department of Financial Institutions to establish the Edward Jones Bank industrial loan company.
July 06, 2020 |
ICBA NewsWatch Today
Lending
Senate bill would forgive PPP loans under $150K
Senate Banking Committee member Kevin Cramer (R-N.D.) introduced ICBA-supported legislation that would forgive Paycheck Protection Program loans under $150,000.
July 02, 2020 |
ICBA NewsWatch Today
ICBA Statement on Paycheck Protection Program Extension
Independent Community Bankers of America President and CEO Rebeca Romero Rainey released a statement on congressional passage of legislation to extend the Paycheck Protection Program through Aug. 8.
July 02, 2020 |
Press Release
Independent Banker: Small biz loves community banks
The July issue of Independent Banker magazine focuses on why small businesses love their community banks—especially now. The cover story profiles four enterprising business owners whose community banks have guided them through thick and thin.
July 02, 2020 |
ICBA NewsWatch Today
Advocacy
House sends PPP extension to president
The House passed legislation to extend the Paycheck Protection Program application deadline until Aug. 8, sending it to President Donald Trump to be signed into law. The House vote came hours after the SBA stopped accepting PPP applications.
July 02, 2020 |
ICBA NewsWatch Today
ICBA to FDIC: Commercial firms should not own ILCs
ICBA commended the FDIC for working to strengthen its supervisory processes for non-commercial parent companies of industrial loan companies, but it said the agency's proposal falls short of ensuring the safety and soundness of these companies.
July 02, 2020 |
ICBA NewsWatch Today
Lending
Regulators warn of LIBOR transition risks
Financial regulators issued a joint statement highlighting the risks of transitioning from LIBOR. The Federal Financial Institutions Examination Council encouraged institutions to continue the switch to alternative reference rates to mitigate financial, legal, operational, and consumer protection risks.
July 02, 2020 |
ICBA NewsWatch Today
Lending
FDIC ILC Rule Comment Letter
The Independent Community Bankers of America appreciates this opportunity to provide feedback to the Federal Deposit Insurance Corporation’s request for comments in response to its Notice of Proposed Rulemaking on the supervision of the Parent Companies of Industrial Banks and Industrial Loan Companies.
July 01, 2020 |
News
Commerce & Banking
ICBA: Bill to establish PPP calculator supports small biz
ICBA thanked Reps. Ann Wagner (R-Mo.) and Wm. Lacy Clay (D-Mo.) for introducing legislation to establish a free online calculator to complete Paycheck Protection Program loan-forgiveness forms.
July 01, 2020 |
ICBA NewsWatch Today
ICBA urges passage of military-banking parity
ICBA urged congressional leaders to support a provision of the Senate's 2021 National Defense Authorization Act that would promote parity between banks and credit unions on military bases.
July 01, 2020 |
ICBA NewsWatch Today
Military Lending
ICBA opposes resubmitted Rakuten ILC application
ICBA called on the FDIC to deny Rakuten Bank America’s resubmitted federal deposit insurance application and urged Congress to permanently close the industrial loan company loophole.
July 01, 2020 |
ICBA NewsWatch Today
Commerce & Banking
Senate votes to extend PPP into August
The Senate passed legislation to extend the Paycheck Protection Program application deadline until Aug. 8, sending it to the House hours before the SBA stopped accepting PPP applications.
July 01, 2020 |
ICBA NewsWatch Today
The bank pioneering banking as a service
With the help of a fintech partnership, Coastal Community Bank has blazed a trail by providing banking as a service (BaaS).
July 01, 2020 |
Independent Banker
Payments
How branch security is catching up with branch design
As the design of the branch has advanced, so, too, have the measures that community banks use to keep their branches secure.
July 01, 2020 |
Independent Banker
Compliance
10 mobile lending UX best practices
The easier and more intuitive your mobile lending platform is to use, the more high-quality loan applications you’ll receive.
July 01, 2020 |
Independent Banker
Lending
Who made ICBA’s 2020 Top Lenders list?
There’s no doubt that 2019 looked very different than 2020 in all areas of life, and community banking was no exception. But our top lenders’ exceptional performance last year has set them up for success even in a time of turmoil. Read on to meet the year’s most successful loan producers in the agriculture, commercial and consumer/mortgage categories.
July 01, 2020 |
Independent Banker
Lending
Why succession planning is key to bank independence
Independence is at the heart of many community banks’ ethos, but how do community bankers embed this core value into their strategic planning? Here are three critical strategies that use succession planning and board management to maintain independence.
July 01, 2020 |
Independent Banker
ICBA Opposes Rakuten's Resubmitted ILC Application
The Independent Community Bankers of America® (ICBA) called on the Federal Deposit Insurance Corp. to deny Rakuten Bank America’s resubmitted federal deposit insurance application and urged Congress to permanently close the industrial loan company loophole.
June 30, 2020 |
Press Release
Commerce & Banking
Bill would establish PPP loan-forgiveness calculator
Reps. Ann Wagner (R-Mo.) and Wm. Lacy Clay (D-Mo.) introduced legislation to establish a free online calculator to complete Paycheck Protection Program loan-forgiveness forms.
June 30, 2020 |
ICBA NewsWatch Today
ICBA backs amendment to advance 'beneficial owner' reform
ICBA and other groups called on Senate leaders to include "beneficial ownership" disclosure relief in the 2021 National Defense Authorization Act.
June 30, 2020 |
ICBA NewsWatch Today
Regulatory Relief
FinCEN issues BSA/AML guidance on hemp businesses
The Financial Crimes Enforcement Network issued guidance on BSA/AML regulatory requirements for hemp-related business customers.
June 30, 2020 |
ICBA NewsWatch Today
Compliance
Supreme Court won't consider credit union redlining case
The U.S. Supreme Court declined to review the National Credit Union Administration's field-of-membership rules, ending an ICBA-supported legal challenge going back several years.
June 30, 2020 |
ICBA NewsWatch Today
Credit Unions
CFPB directors may be removed at will, Supreme Court rules
The U.S. Supreme Court ruled that the Consumer Financial Protection Bureau's single-director governance structure is unconstitutional and that the president must have the authority to remove the bureau head.
June 30, 2020 |
ICBA NewsWatch Today
Consumer Financial Protection Bureau
PPP loans continue climb ahead of deadline
Community bank Paycheck Protection Program loans continued to climb ahead of today's deadline for borrower applications, according to an SBA summary of loan approvals through June 27.
June 30, 2020 |
ICBA NewsWatch Today
ICBA Statement on Supreme Court Decision in Credit Union Redlining Case
Independent Community Bankers of America President and CEO Rebeca Romero Rainey issued the following statement on today's Supreme Court decision not to review the National Credit Union Administration's field-of-membership rules.
June 29, 2020 |
Press Release
Credit Unions
PPP shines light on community banks
The Paycheck Protection Program has cast a national light on the role of community banks in supporting small businesses, ICBA President and CEO Rebeca Romero Rainey writes in Main Street Matters.
June 29, 2020 |
ICBA NewsWatch Today
Contact Congress on next pandemic relief package
As Congress considers the next COVID-19 legislative relief package, ICBA is calling on community bankers to provide lawmakers with policy recommendations that will support local communities.
June 29, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
Agencies propose revised flood insurance Q&As
Regulators requested public comment on new and revised interagency questions and answers on flood insurance.
June 29, 2020 |
ICBA NewsWatch Today
Advocacy Compliance
ICBA offers scholarship for veterans
ICBA and The American College of Financial Services are offering a new “20 in 2020” scholarship for veterans and their families seeking careers as community bankers.
June 29, 2020 |
ICBA NewsWatch Today
Retail sales stage a comeback in May, but the hole remains deep
Visa economists break down the latest trends among consumer behaviors in their June Monthly Consumer Monitor report.
June 26, 2020 |
News
FDIC codifies 'valid when made' doctrine
The FDIC issued an ICBA-supported rule codifying agency guidance that the valid interest rate for a loan is determined when the loan is made and is unaffected by a subsequent sale or reassignment to a third party.
June 26, 2020 |
ICBA NewsWatch Today
Lending
SBA updates PPP guidance on maturity dates, fishing boats
The SBA updated its frequently asked questions on the Paycheck Protection Program with guidance on maturity dates.
June 26, 2020 |
ICBA NewsWatch Today
GAO: $1.4B in stimulus payments to deceased people
The Government Accountability Office's report on the federal COVID-19 response reported that the IRS sent nearly $1.4 billion in Economic Impact Payments to nearly 1.1 million deceased individuals.
June 26, 2020 |
ICBA NewsWatch Today
Crisis Preparedness Lending
Regulators modify Volcker Rule
Financial regulators finalized a rule modifying the Volcker Rule’s prohibition on banking entities investing in or sponsoring hedge funds or private equity funds.
June 26, 2020 |
ICBA NewsWatch Today
Compliance Compliance
ICBA opposes Rakuten ILC resubmission
ICBA said the FDIC should deny Japanese e-commerce conglomerate Rakuten's application for federal deposit insurance at its Rakuten Bank America industrial loan company.
June 26, 2020 |
ICBA NewsWatch Today
Commerce & Banking
Romero Rainey: PPP shines positive light on community banks
The Paycheck Protection Program has cast a national light on the role of community banks in supporting small businesses, ICBA President and CEO Rebeca Romero Rainey writes in Main Street Matters.
June 25, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness Lending
Comment Letter to the FDIC on Rakuten
The Independent Community Bankers of America appreciates this opportunity to comment on the re-submission by Rakuten Card Co., Ltd. (Rakuten Card Japan) a subsidiary of Rakuten, Inc., of an application for federal deposit insurance with the Federal Deposit Insurance Corporation to insure the deposits of Rakuten Bank America (Rakuten Bank), an industrial bank or “ILC” to be chartered under Utah law.
June 25, 2020 |
News
Agriculture Commerce & Banking
Main Street Inc. Announces Partnership With Community Bankers Association of Ohio
ICBA offers Congress stimulus recommendations
As Congress considers the next legislative package to address the economic fallout from the COVID-19 pandemic, ICBA weighed in with recommendations to support local communities.
June 25, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
SBA revises PPP restrictions for applicants with felonies
The SBA issued a new Paycheck Protection Program interim final rule revising its recently updated eligibility guidelines for borrowers facing criminal charges. Newly revised borrower and lender application forms dated June 24 incorporate the changes.
June 25, 2020 |
ICBA NewsWatch Today
Advocacy Crisis Preparedness
Agencies issue 2019 HMDA data
The Federal Financial Institutions Examination Council released data on 2019 mortgage lending transactions covered by the Home Mortgage Disclosure Act.
June 25, 2020 |
ICBA NewsWatch Today
Mortgage Rules
2020 CRA list released
Federal regulators released the 2020 list of distressed or underserved nonmetropolitan middle-income geographies.
June 25, 2020 |
ICBA NewsWatch Today
CRA
CFPB updates "underserved" methodology
The Consumer Financial Protection Bureau issued an interpretive rule on how it determines which counties qualify as "underserved" for a given calendar year.
June 24, 2020 |
ICBA NewsWatch Today
Compliance
FEMA offers exercise kit for restoring operations
The Federal Emergency Management Agency released an Exercise Starter Kit that organizations can use as they plan for returning to the new normal.
June 24, 2020 |
ICBA NewsWatch Today
Advocacy
ICBA Offers Recommendations as Congress Debates Stimulus
As Congress considers the next legislative package to address the economic fallout from the COVID-19 pandemic, the Independent Community Bankers of America today weighed in with recommendations to support local communities.
June 24, 2020 |
Press Release
Advocacy Crisis Preparedness
ICBA PPP webinar follows release of new rule
Community bankers can download the recording of Tuesday's ICBA Community Bank Briefing on the Paycheck Protection Program. The briefing provides a regulatory update with a focus on PPP loan review and forgiveness.
June 24, 2020 |
ICBA NewsWatch Today
Crisis Preparedness
SBA to release info on most PPP borrowers
The SBA and Treasury Department said they will publicly release certain information about Paycheck Protection Program borrowers.
June 22, 2020 |
ICBA NewsWatch Today
SBA tool connects small biz with PPP lenders
The SBA launched an online tool to match small businesses and nonprofits with smaller-asset Paycheck Protection Program lenders.
June 22, 2020 |
ICBA NewsWatch Today
Lending
ICBA releases custom small-business op-ed
ICBA recently released a customizable op-ed that community bankers can use to share how they have rallied around small businesses during the COVID-19 pandemic and led the way on Paycheck Protection Program loans.
June 22, 2020 |
ICBA NewsWatch Today
Lending
FDIC board meeting Thursday on Volcker Rule
The FDIC board of directors is scheduled to meet at 2:30 p.m. (Eastern time) this Thursday, June 25
June 22, 2020 |
ICBA NewsWatch Today
Federal Deposit Insurance Corporation
Passageways Announces Capital Raise and Expansion Plans
Independent Banker
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