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SoFi ditches ILC push for full-service bank charter
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...
ICBA continues fighting debt plan for largest credit unions
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...
ICBA urging ILC grassroots outreach
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. ICBA is calling on community...
IRS cancels stimulus payments to ineligible recipients
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...
Visa Small Business Recovery Monitor report, June 2020
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. Visa’s analysis of current...
ICBA urging grassroots on ILC loophole
ICBA urging grassroots on ILC loophole ICBA is calling on community bankers to urge their senators to co-sponsor legislation to close the industrial loan company loophole. ICBA is calling on...
CFPB details higher-level exams
CFPB details higher-level exams The Consumer Financial Protection Bureau posted frequently asked questions about prioritized assessments, a new supervisory approach the bureau developed in response...
ICBA offers resources on PPP data release
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...
ICBA resources follow release of PPP data
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...
PPP calculator bill introduced in Senate
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...
House subcommittee set to pass ag appropriations
House subcommittee set to pass ag appropriations The House Appropriations Agriculture Subcommittee adopted fiscal 2021 agriculture and rural development legislation. The House Appropriations...
ICBA on PPP extension: Community banks a lifeline
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...
United Bankers’ Bank and MK Decision Partnership Brings Business Credit Card Origination Online for 75+ Banks in 15-State Footprint
United Bankers’ Bank and MK Decision Partnership Brings Business Credit Card Origination Online for 75+ Banks in 15-State Footprint United Bankers’ Bank (UBB), a $996 million-asset correspondent...
Senate bill would forgive PPP loans under $150K
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...
ICBA's Merski talks community banks on business podcast
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. ICBA's...
CFPB begins implementing escrow exemption
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...
Edward Jones applies for ILC
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...
ICBA Statement on Paycheck Protection Program Extension
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...
Merchants and Planters Bank and MK Decision Partner to Deliver Online Credit Card Applications to their Customers
Merchants and Planters Bank and MK Decision Partner to Deliver Online Credit Card Applications to their Customers MK Decision (MK), the leader in credit card loan origination announced today its...
Independent Banker: Small biz loves community banks
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...
House sends PPP extension to president
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...
ICBA to FDIC: Commercial firms should not own ILCs
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...
FDIC ILC Rule Comment Letter
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...
ICBA: Bill to establish PPP calculator supports small biz
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...
ICBA urges passage of military-banking parity
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...
ICBA Opposes Rakuten's Resubmitted ILC Application
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...
Bill would establish PPP loan-forgiveness calculator
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...
ICBA backs amendment to advance 'beneficial owner' reform
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...
Regulators warn of LIBOR transition risks
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...
ICBA opposes resubmitted Rakuten ILC application
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...
Senate votes to extend PPP into August
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...
FinCEN issues BSA/AML guidance on hemp businesses
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. The Financial...
Supreme Court won't consider credit union redlining case
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...
CFPB directors may be removed at will, Supreme Court rules
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...
ICBA Statement on Supreme Court Decision in Credit Union Redlining Case
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...
PPP shines light on community banks
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...
Retail sales stage a comeback in May, but the hole remains deep
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. Visa economists...
FDIC codifies 'valid when made' doctrine
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...
SBA updates PPP guidance on maturity dates, fishing boats
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. The SBA updated its...
GAO: $1.4B in stimulus payments to deceased people
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...