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FS-ISAC Coronavirus Update, Jan. 22, 2021
Headlines Within his first few days in office, President Joe Biden has painted a bleak picture of the nation’s Covid-19 outbreak, warning that “there’s nothing we can do to change the trajectory of...
ICBA encouraging responses to advocacy survey
ICBA encouraging responses to advocacy survey ICBA is calling on community bankers to complete its State of Advocacy survey to help identify new and existing community banker relationships with...
FS-ISAC Coronavirus Update 2, Jan. 25, 2021
FS-ISAC Coronavirus Update 2, Jan. 25, 2021 BREAKING – US records first case of Brazilian variant Minnesota officials announced this afternoon they had confirmed the first US case of the highly...
GAO seeking PPP feedback
2021-01-26 GAO seeking PPP feedback The Government Accountability Office will be surveying a sample of Paycheck Protection Program lenders in the coming weeks to gather feedback about their...
ICBA Congratulates Janet Yellen on Treasury Secretary Confirmation
ICBA Congratulates Janet Yellen on Treasury Secretary Confirmation Washington, D.C. (Jan. 25, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued...
SBA working to identify potential PPP updates
2021-01-25 SBA working to identify potential PPP updates The SBA on Saturday said it is working to ensure the Paycheck Protection Program appropriately accounts for the changes that businesses may...
Treasury plans EIP outreach for unserved households
Treasury plans EIP outreach for unserved households The Treasury Department announced plans to help the up to 8 million households that have not yet been able to access either round of Economic...
Yellen nomination advances in Senate
2021-01-25 Yellen nomination advances in Senate The Senate Finance Committee unanimously approved the nomination of Janet Yellen for Treasury secretary. The committee vote sends Yellen's nomination...
ICBA seeks more gradual increase of same-day ACH limits
ICBA seeks more gradual increase of same-day ACH limits ICBA said it supports Nacha's plan to raise the individual same-day ACH transaction limit from $100,000 to $1 million in 2022. However, ICBA...
Biden names acting agency heads
2021-01-22 Biden names acting agency heads President Joe Biden named agency heads serving in an acting capacity until permanent leadership is confirmed by the Senate. Those named include Consumer...
ICBA urges OCC to rescind CRA survey
ICBA urges OCC to rescind CRA survey ICBA encouraged the OCC to rescind its proposal to require national banks over $2.5 billion in assets to complete an Information Collection Survey to establish...
Biden expected to tap Michael Barr to head OCC
2021-01-22 Biden expected to tap Michael Barr to head OCC President Joe Biden is expected to nominate former Treasury Department official Michael Barr for comptroller of the currency, according to...
Kraninger steps down from CFPB
Kraninger steps down from CFPB Kathy Kraninger announced Wednesday that she resigned as Consumer Financial Protection Bureau director, as requested by President Joe Biden's administration. Federal...
IRS confirms SBA 7(a) payments no longer taxable income
2021-01-22 IRS confirms SBA 7(a) payments no longer taxable income The IRS this week issued guidance clarifying that SBA payments on existing 7(a) and 504 loans under Section 1122 of the CARES Act...
FS-ISAC Coronavirus Update, Jan. 21, 2021
FS-ISAC Coronavirus Update, Jan. 21, 2021 Headlines Wednesday marks one year since the Centers for Disease Control and Prevention confirmed the first case of COVID-19 in the US, and it wouldn't be...
PPP resources available directly from SBA
Community bankers have reported problems with NewsWatch Today links to the SBA's Paycheck Protection Program resources, including application forms and rules. All such resources are available on...
ICBA Welcomes President Joe Biden
ICBA Welcomes President Joe Biden Washington, D.C. (Jan. 20, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the...
FS-ISAC Coronavirus Update, Jan. 20, 2021
Headline The vaccine developed by Pfizer-BioNTech is likely to be just as effective against the highly transmissible strain of the coronavirus that was first discovered in the United Kingdom,...
Agencies issue FAQs on SARs
Agencies issue FAQs on SARs Federal regulators issued responses to frequently asked questions regarding Suspicious Activity Reports and other anti-money-laundering considerations. The FAQs clarify...
Agencies finalize rules on supervisory guidance
Agencies finalize rules on supervisory guidance The FDIC, OCC, and CFPB issued final rules to clarify and codify the role of supervisory guidance. The rules codify the agencies' September 2018...
FS-ISAC Coronavirus Update, Jan. 18, 2021
2021-01-19 FS-ISAC Coronavirus Update, Jan. 18, 2021 Headlines The US surpassed 24 million total cases of coronavirus Monday afternoon, with Johns Hopkins University data showing that while it took...
USDA finalizes hemp rule
USDA finalizes hemp rule The USDA issued its final rule regulating the production of hemp. The rule—which takes effect March 22—includes licensing and recordkeeping requirements, procedures for...
FS-ISAC Coronavirus Update, Jan. 15, 2021
2021-01-15 FS-ISAC Coronavirus Update, Jan. 15, 2021 Headlines The US registered an additional 4,022 deaths from COVID-19 on Wednesday, according to data collected by The COVID Tracking Project,...
PPP reopening for more lenders today
2021-01-15 PPP reopening for more lenders today The SBA will reopen the Paycheck Protection Program loan portal to PPP-eligible lenders with $1 billion or less in assets at 9 a.m. (Eastern time)...
FBI alert, webinar offer threat update
2021-01-15 FBI alert, webinar offer threat update The FBI issued an alert on violence related to the electoral certification and inauguration of President-elect Joe Biden. The alert recaps...
CFPB finalizes escrow relief
CFPB finalizes escrow relief The Consumer Financial Protection Bureau issued a final rule implementing ICBA-supported relief from mandatory escrow requirements for higher-priced mortgage loans. The...
ICBA Announces Nominations for 2021-22 Board of Directors
2021-01-20 ICBA Announces Nominations for 2021-22 Board of Directors Community banker national leadership to be formally elected in conjunction with ICBA Connect in March Washington, D.C. (Jan. 20,...
SBA issues resources as PPP fully reopens today
SBA issues resources as PPP fully reopens today 2021-01-19 The SBA over the weekend issued additional resources on the Paycheck Protection Program, which will fully open to all participating...
CISA issues guides with cyber best practices
2021-01-19 CISA issues guides with cyber best practices The Cybersecurity and Infrastructure Security Agency issued new guides for federal agencies with best practices that can apply throughout the...
CFPB issues compliance guide for debt collection rule
CFPB issues compliance guide for debt collection rule The Consumer Financial Protection Bureau issued a new small entity compliance guide summarizing the October 2020 debt collection rule. As...
NCUA seeks expanded powers for CUSOs
The National Credit Union Administration issued a proposed rule that would expand credit union service organizations' permissible services and activities to include anything federal credit unions...
FHFA, Treasury allow GSEs to continue retaining earnings
FHFA, Treasury allow GSEs to continue retaining earnings The Federal Housing Finance Agency and Treasury Department updated the Preferred Stock Purchase Agreements allowing Fannie Mae and Freddie...
FS-ISAC Coronavirus Update, Jan. 14, 2021
Headlines The US crossed 23 million cases Wednesday, and in the last week, 22 states and Washington, D.C., have reported a record seven-day average of daily cases, with the national average at a...
PPP reopening for more lenders tomorrow
PPP reopening for more lenders tomorrow The SBA said it will reopen the Paycheck Protection Program loan portal to PPP-eligible lenders with $1 billion or less in assets at 9 a.m. (Eastern time)...
ICBA urges OCC to withdraw CRA survey
ICBA and other groups called on the OCC to withdraw the CRA Information Collection Survey that was published in the Federal Register in December. In a letter to the OCC, the groups said that while...
CFPB issues guidance on Limited English Proficiency consumers
CFPB issues guidance on Limited English Proficiency consumers The Consumer Financial Protection Bureau issued guidance that encourages financial institutions to better serve Limited English...
SBA reopening for more lenders Friday
The Small Business Administration just announced that it will reopen the Paycheck Protection Program loan portal to PPP-eligible lenders with $1 billion or less in assets at 9 a.m. (Eastern time)...
ICBA: GMAC Collapse Shows Risk of GM Bank Application
ICBA: GMAC Collapse Shows Risk of GM Bank Application Industrial loan company loophole avoids supervision, violates long-standing policy Washington, D.C. (Jan. 13, 2021) — The Independent Community...
ICBA backs efforts to recapitalize GSEs
ICBA said it strongly supports Federal Housing Finance Agency Director Mark Calabria’s efforts to fully recapitalize Fannie Mae and Freddie Mac and put them on the path to safely exit...
ICBA Statement on Conservatorship of Fannie Mae, Freddie Mac
ICBA Statement on Conservatorship of Fannie Mae, Freddie Mac Washington, D.C. (Jan. 13, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the...
MK Decision Introduces Digital Account Opening
On a brisk evening back in January of 2019, Har Rai Khalsa and Jon BenAmoz stood on a rooftop, overlooking the twinkling lights of Little Rock, Arkansas. The two reflected on their experience at...
IRS redirecting, reissuing some EIP2s
IRS redirecting, reissuing some EIP2s The IRS said it is working with the tax-preparation industry to redirect second Economic Impact Payments that for some recipients went to temporary bank...
SBA begins implementing next round of PPP
2021-01-07 Dear Community Banker: The Small Business Administration last night issued several documents on the next round of the Paycheck Protection Program authorized by the end-of-year stimulus...
EIDL advance fix in effect as SBA writes new PPP rules
2021-01-05 EIDL advance fix in effect as SBA writes new PPP rules While the SBA writes new rules on the next round of the Paycheck Protection Program, the ICBA-advocated fix to Economic Injury...
SBA issues PPP resources ahead of launch
SBA issues PPP resources ahead of launch The SBA on Friday and over the weekend released a series of forms and guidance for the next round of Paycheck Protection Program lending starting for...
ICBA: FHFA approval process should expand GSE transparency
2021-01-11 ICBA: FHFA approval process should expand GSE transparency ICBA submitted a comment letter to the Federal Housing Finance Agency on its proposed rule that outlines the process of prior...
Community Banks: The Road to Bipartisan Solutions
Community Banks: The Road to Bipartisan Solutions The Independent Community Bankers of America congratulates members of the 117th Congress for serving the nation at this critical time. Employing...
ICBA's Open Letter to the 117th Congress
Capitol Building Panorama 2021-01-08 ICBA's Open Letter to the 117th Congress Dear Senator or Representative: On behalf of community banks [1] across the country, I write to congratulate you on...
ICBA Selects StreetShares as a Preferred Service Provider Enabling Digital Lending for Small Businesses
ICBA Selects StreetShares as a Preferred Service Provider Enabling Digital Lending for Small Businesses 2021-01-07 Washington, D.C. (Jan. 7, 2021) — The Independent Community Bankers of America...
ICBA Statement on Today’s U.S. Capitol Attack
2021-01-07 ICBA Statement on Today’s U.S. Capitol Attack Washington, D.C. (Jan. 6, 2021) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey today released the...
ICBA ThinkTECH Accelerator 2021 Cohort Revealed During Virtual Kickoff Event
2021-01-06 Community Bank-Fintech Event Spurs Collaborative Innovation in the New Year Washington, D.C. (Jan. 6, 2021) — The Independent Community Bankers of America (ICBA), in partnership with The...
2020 in Review: ICBA members are a strong and active voice
2020 in Review: ICBA members are a strong and active voice More than 9,000 community bankers sent more than 65,000 messages to Congress and Federal regulators in 2020. Let’s review what community...
IRS: 13M EIPs going to temporary tax-prep accounts
IRS: 13M EIPs going to temporary tax-prep accounts The IRS said roughly 13 million second-round Economic Impact Payments went to temporary accounts used by the tax-preparation industry. Those...
ICBA backs state standards for nonbank mortgage servicers
2021-01-05 ICBA backs state standards for nonbank mortgage servicers ICBA said it largely supports a Conference of State Banking Supervisors proposal to establish regulatory standards for nonbank...
CFPB issues annual threshold adjustments
CFPB issues annual threshold adjustments The Consumer Financial Protection Bureau issued three annual threshold adjustment final rules, effective Jan. 1, 2021: Asset-size exemption thresholds for...
CEO Alert: Treasury issues Economic Impact Payment Details
Dear Community Banker: Following this week's signing of the economic stimulus package into law, the federal government released information on the distribution of Economic Impact Payments to...
ICBA ThinkTECH Accelerator 2021 Finalists Revealed
2020-12-23 Program fuels community bank innovation through fintech partnerships WHAT: The Independent Community Bankers of America (ICBA) and The Venture Center, in partnership with the State of...
Congress overrides defense bill veto advancing 'beneficial owner' reform
In one of the last votes of the 116th Congress, lawmakers overturned President Trump's veto of a defense spending bill advancing ICBA-advocated BSA/AML reforms. The 2021 National Defense...
ICBA Announces End of Year Staff Promotions
ICBA Announces End of Year Staff Promotions Washington, D.C. (Dec. 23, 2020) — The Independent Community Bankers of America (ICBA) announced several staff announcements, effective Jan. 1, 2021. The...
CSBS files complaint against OCC regarding a special purpose national charter application
The Conference of State Bank Supervisors filed a complaint in the U.S. District Court for the District of Columbia opposing the OCC’s creation of a new national bank charter for nonbank companies...