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A Note from the Chairman
A Note from the Chairman “Our success has really been based on partnerships from the very beginning,” so attested Bill Gates of the factors behind Microsoft’s decades-long dominance. While he was...
Large payments companies move to single exam
2021-03-24 Large payments companies move to single exam The Conference of State Bank Supervisors said 13 nationwide payments firms have undergone or are undergoing their single comprehensive exams...
Quarles: Focus on ceasing LIBOR use
Quarles: Focus on ceasing LIBOR use While policymakers continue planning for the end of LIBOR, financial firms should focus this year on ending new uses of the benchmark interest rate, Fed Vice...
FS-ISAC Coronavirus Update, March 23, 2021
Headlines New cases of Covid-19 are once again on the rise across more than half of the US and the recent drop in hospitalizations is slowing, Centers for Disease Control and Prevention Director...
ICBA: Community Banks Proudly Serve Rural America
ICBA: Community Banks Proudly Serve Rural America National Agriculture Week is March 21-27 Washington, D.C. (March 23, 2021) — The Independent Community Bankers of America (ICBA) and the nation’s...
BPI, ABA, ICBA Urge OCC to Withdraw Bank Premises Proposal Amid Uncertain Post-Pandemic Office Reality
Washington, D.C. (March 23, 2021) — BPI, the American Bankers Association and the Independent Community Bankers of America sent a joint comment letter calling on the OCC to withdraw its Notice of...
SBA opening shuttered venue grant applications April 8
SBA opening shuttered venue grant applications April 8 The SBA launched an online portal to receive Shuttered Venue Operators Grant applications when the application period begins April 8. The...
Senate bill would expand credit union lending authority
ICBA-opposed legislation designed to expand credit union lending authority was introduced in the Senate. Details: The Expanding Access to Lending Options Act of 2021 (S. 762), introduced by Sens....
Cannabis banking bill reintroduced in Senate
Cannabis banking bill reintroduced in Senate ICBA-advocated legislation to establish a cannabis-banking safe harbor in states where cannabis is legal was reintroduced in the Senate following House...
ICBA urges OCC to withdraw bank premises proposal
ICBA and other groups called on the OCC to withdraw a proposed rule to impose a rules-based approach to what national banks and federal savings associations can do with their buildings, land, and...
FS-ISAC Coronavirus Update, March 24, 2021
FS-ISAC Coronavirus Update, March 24, 2021 Headlines In the last week alone, the US has reported 2,926 new variant cases - more than the country reported in December, January and February combined,...
Visa Prepaid Manual Cash Advances (March 2021)
Visa requires that all U.S. Visa bank branches must honor and enable cash disbursements for all valid Visa Prepaid cards, whether or not the card is embossed or personalized with the cardholder’s...
Senate taking up PPP extension this week
Senate taking up PPP extension this week With the Senate expected to vote this week on House-passed legislation to extend the Paycheck Protection Program, ICBA is urging community bankers to...
SBA updates PPP forms to implement changes
The SBA issued updated Paycheck Protection Program application forms that incorporate last week's interim final rule implementing American Rescue Plan Act changes. The Rule: The IFR authorizes PPP...
CFPB reports on debt-collection rule
2021-03-23 CFPB reports on debt-collection rule The Consumer Financial Protection Bureau released its 2020 annual report to Congress on the Fair Debt Collection Practices Act, including public...
ICBA urging grassroots on rural lending tax relief
ICBA urging grassroots on rural lending tax relief With National Agriculture Week running through Friday, ICBA is calling on community bankers to advocate support for newly reintroduced legislation...
ICBA-backed cannabis banking safe harbor reintroduced
2021-03-19 ICBA-backed cannabis banking safe harbor reintroduced ICBA expressed support for newly reintroduced bipartisan legislation to establish a safe harbor for financial institutions that...
New Nacha rules take effect today
New Nacha rules take effect today Two new Nacha rules take effect today on Same Day ACH and account validation. Same Day ACH: Originators currently must submit Same Day ACH transaction files to ACH...
FS-ISAC Coronavirus Update, March 19, 2021
2021-03-19 FS-ISAC Coronavirus Update, March 19, 2021 Headlines Covid-19 cases are rising by more than 10% in 14 states this week compared to last week, with half of those states rising by more...
90M EIPs disbursed this week
90M EIPs disbursed this week The Treasury Department and IRS said they disbursed roughly 90 million Economic Impact Payments this week. First Batch: Totaling more than $242 billion, the first...
ICBA urging grassroots outreach on PPP reform
2021-03-18 ICBA urging grassroots outreach on PPP reform ICBA is urging community bankers to use its Be Heard grassroots action center to urge their members of Congress to make needed changes to...
CISA issues tool for detecting threat activity
CISA issues tool for detecting threat activity The Cybersecurity and Infrastructure Security Agency released a forensics collection capability to help detect activity related to the supply chain...
ICBA Supports Bill to Establish Cannabis Banking Safe Harbor
2021-03-18 ICBA Supports Bill to Establish Cannabis Banking Safe Harbor Washington, D.C. (March 18, 2021) — The Independent Community Bankers of America (ICBA) today expressed support for...
ICBA backs bill offering rural lending tax relief
ICBA backs bill offering rural lending tax relief ICBA expressed support for legislation to exempt from taxation interest income on farm real estate and rural mortgage loans. Details: Introduced by...
FS-ISAC Coronavirus Update, March 18, 2021
2021-03-18 FS-ISAC Coronavirus Update, March 18, 2021 Headlines Covid-19 cases are rising by more than 10% in 14 states this week compared to last week, with half of those states rising by more...
ICBA Supports Bill Offering Tax Relief for Rural Lending
ICBA Supports Bill Offering Tax Relief for Rural Lending Legislation promotes access to credit in rural communities Washington, D.C. (March 17, 2021) — The Independent Community Bankers of America...
Farm banks remain strong amid ag challenges: FDIC
Farm banks are vital to U.S. agricultural producers and rural communities, holding 44 percent of bank-held agricultural loans despite holding just 2 percent of U.S. bank loans, according to a new...
House passes PPP extension with Senate outlook in question
House passes PPP extension with Senate outlook in question The House voted 415-3 to pass ICBA-supported legislation to extend the Paycheck Protection Program, though the Senate outlook remains...
EIPs start depositing today
The first tranche of new Economic Impact Payments sent through the ACH Network is effective today. Payment Clarity: In a joint statement, ICBA and other financial services groups clarified that the...
FS-ISAC Coronavirus Update, March 17, 2021
FS-ISAC Coronavirus Update, March 17, 2021 Headlines In 15 states, new US Covid-19 cases reported over the past seven days are at least 10% higher than a week ago, according to data from Johns...
PPP loans reaching smallest borrowers: SBA data
PPP loans reaching smallest borrowers: SBA data The current round of the Paycheck Protection Program is successfully reaching smaller borrowers, according to recent data from the SBA. Details: The...
ICBA ThinkTECH Innovation Showcase today
2021-03-16 ICBA ThinkTECH Innovation Showcase today ICBA today is hosting a showcase of 2021 ICBA ThinkTECH Accelerator participants and their new technologies available to community banks....
ICBA: Two-tiered deadline will ensure SBA clears PPP loans on hold
ICBA: Two-tiered deadline will ensure SBA clears PPP loans on hold ICBA thanked policymakers for introducing The PPP Extension Act of 2021, which pushes the application deadline until May 31 and...
FBI warns of cryptocurrency theft threat
2021-03-15 FBI warns of cryptocurrency theft threat The FBI said federal charges against three computer programmers linked to the North Korean government illustrate the appeal of cryptocurrency...
SBA updates PPP guidance
SBA updates PPP guidance The Small Business Administration on Friday updated its frequently asked questions as well as its guidance concerning how to calculate revenue reduction and maximum loan...
Agencies propose private flood insurance Q&As
2021-03-12 Agencies propose private flood insurance Q&As Federal regulators requested comments on 24 proposed interagency questions and answers regarding private flood insurance. The proposal is...
ICBA ThinkTECH Showcase Spotlights Innovative Community Bank Solutions
ICBA ThinkTECH Showcase Spotlights Innovative Community Bank Solutions WHAT: The Independent Community Bankers of America (ICBA) in partnership with The Venture Center will host the ICBA ThinkTECH...
ICBA testifies: Don't leave PPP applicants stranded
2021-03-11 ICBA testifies: Don't leave PPP applicants stranded The approaching Paycheck Protection Program expiration date should not leave small businesses or nonprofits stranded, ICBA community...
FS-ISAC Coronavirus Update, March 11, 2021
FS-ISAC Coronavirus Update, March 11, 2021 Headlines The US reported 57,417 new cases for Tuesday, according to the latest data compiled by Johns Hopkins University, a total that was up from a...
CFPB rescinds abusiveness policy statement
2021-03-12 CFPB rescinds abusiveness policy statement The Consumer Financial Protection Bureau said it is rescinding its January 2020 “Statement of Policy Regarding Prohibition on Abusive Acts or...
New round of EIPs starts today
New round of EIPs starts today 2021-03-12 The IRS said it will begin distributing the third round of Economic Impact Payments today, with an effective entry date of this Wednesday, March 17....
Congress approves stimulus plan
2021-03-11 Congress approves stimulus plan ICBA released a summary of the $1.9 trillion American Rescue Plan Act (H.R. 1319), which Congress passed and President Joe Biden is expected to sign into...
New York State Banker Elected ICBA Chairman
New York State Banker Elected ICBA Chairman Fisher of Spencer to serve the nation’s community banks Washington, D.C. (March 10, 2021) — Robert M. Fisher, president and CEO of Tioga State Bank in...
ICBA Announces 2021-22 Executive Committee
New York community banker Robert M. Fisher elected ICBA Chairman Washington, D.C. (March 10, 2021) — The Independent Community Bankers of America (ICBA) today announced the election of its 2021-22...
New ICBA Chairman to Community Banks: Get Engaged to Drive Positive Change
New ICBA Chairman to Community Banks: Get Engaged to Drive Positive Change Washington, D.C. (March 10, 2021) — Incoming Independent Community Bankers of America (ICBA) Chairman Robert Fisher...
Joint rule supports Treasury program for CDFIs, MDIs
Federal bank regulators issued an interim final rule that supports the Treasury Department’s Emergency Capital Investment Program, which will provide $9 billion in capital to Community Development...
ICBA: GSE liquidity plan aligns with capital framework
ICBA: GSE liquidity plan aligns with capital framework ICBA said it agrees with the Federal Housing Finance Agency's approach to proposed liquidity requirements for Fannie Mae and Freddie Mac....
Agencies update CRA FAQs
Federal regulators issued new frequently asked questions to help financial institutions and examiners determine Community Reinvestment Act consideration related to the COVID-19 pandemic. What's...
ICBA Connect is Here!
2021-03-08 The ICBA Connect event site is ready! Prepare yourself by logging in now and taking a spin around the site to familiarize yourself with it, so you’re ready to go. The ICBA Connect event...
ICBA: Ensure SBA clears all PPP loans on hold
ICBA and other financial groups called on policymakers to ensure the SBA clears the thousands of Paycheck Protection Program loan applications in process through the end of March. Background: Since...
Fed includes women's depository institutions in MDI definition
Fed includes women's depository institutions in MDI definition The Federal Reserve expanded the definition of minority depository institutions to include women-owned financial institutions....
Key takeaways on new PPP rule
ICBA offers the following community bank takeaways on this week's SBA interim final rule, frequently asked questions, updated application forms, and webinar implementing Paycheck Protection Program...
FinCEN issues AML notice on art, antiquities
FinCEN issues AML notice on art, antiquities The Financial Crimes Enforcement Network issued a notice on Anti-Money Laundering Act of 2020 requirements related to antiquities and arts. The notice...
CFPB: sex discrimination prohibitions apply to sexual orientation, gender identity
The Consumer Financial Protection Bureau issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes...
ICBA to Congress: Don't Leave PPP Applicants Stranded
2021-03-10 ICBA to Congress: Don't Leave PPP Applicants Stranded All loan applications received by March 31 deadline should be considered Washington, D.C. (March 10, 2021) — The approaching...
FS-ISAC Coronavirus Update, March 10, 2021
FS-ISAC Coronavirus Update, March 10, 2021 Headlines White House Chief Medical Advisor Dr. Anthony Fauci said Covid-19 cases may level off again at very high volume, even as the nation rapidly...
ICBA showcases new PPP videos at ICBA Connect
2021-03-10 ICBA showcases new PPP videos at ICBA Connect Day 1 of ICBA Connect featured new videos detailing the important relationship between community banks and small businesses during the...
ICBA summarizes stimulus plan
ICBA summarizes stimulus plan ICBA released a summary of the $1.9 trillion American Rescue Plan Act (H.R. 1319), which Congress is expected to pass this week. The bill includes "recovery rebate"...
ICBA’s Romero Rainey: We Are More Powerful Collectively When We are Empowered Individually
2021-03-09 ICBA’s Romero Rainey: We Are More Powerful Collectively When We are Empowered Individually Washington, D.C. (March 9, 2021) — Independent Community Bankers of America (ICBA) President...
ICBA Kicks off 2021 National Convention
ICBA Kicks off 2021 National Convention Thousands gather virtually for national community banking conference Washington, D.C. (March 9, 2021) — Starting today, community bankers and industry...