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Kennedy to FDIC: Stop companies from taking advantage of ILC loophole
2020-08-13 Kennedy to FDIC: Stop companies from taking advantage of ILC loophole Sen. John Kennedy (R-La.) wrote to FDIC Chairman Jelena McWilliams urging her not to allow industrial loan companies...
CISA issues alert on SBA COVID-19 relief website attack
CISA issues alert on SBA COVID-19 relief website attack The Cybersecurity and Infrastructure Security Agency issued an alert concerning an unknown malicious cyber actor spoofing the Small Business...
Fintech Application Period Kicks Off for ICBA ThinkTECH Accelerator
2020-08-12 Fintech Application Period Kicks Off for ICBA ThinkTECH Accelerator ICBA, Venture Center partner to support community bank innovation amid COVID-19 pandemic Washington, D.C. (Aug. 12,...
HUD sets aside funding to help low-income households amid COVID-19
HUD sets aside funding to help low-income households amid COVID-19 The Department of Housing and Urban Development announced $472 million in CARES Act funding to help low-income families during the...
Smaller lenders lead on PPP: SBA data
2020-08-12 Smaller lenders lead on PPP: SBA data Lenders under $10 billion in assets have made some 2.74 million Paycheck Protection Program loans worth more than $233 billion through both rounds...
ICBA’s Romero Rainey to policymakers: streamline PPP forgiveness process
ICBA’s Romero Rainey to policymakers: streamline PPP forgiveness process Policymakers need to simplify the onerous forgiveness process for small businesses to ensure the Paycheck Protection Program...
ICBA to CFPB: extend GSE patch
2020-08-11 ICBA to CFPB: extend GSE patch ICBA filed a comment letter urging the Consumer Financial Protection Bureau to extend its policy exempting Fannie Mae and Freddie Mac mortgage loans from...
OCC reduces assessments due to COVID-19
OCC reduces assessments due to COVID-19 The OCC is reducing assessments due to the OCC on Sept. 30, 2020, because of the COVID-19 emergency. Under the rule, assessments will be based on Dec. 31,...
PPP forgiveness platform now live
2020-08-10 PPP forgiveness platform now live The Small Business Administration's Paycheck Protection Program forgiveness platform is live and scheduled to begin accepting loan-forgiveness...
Capital Assessment, Capital Planning Are Critical as Coronavirus Creates Chaos
Capital Assessment, Capital Planning Are Critical as Coronavirus Creates Chaos Stress testing and capital planning are important for financial institutions in good times, but they are even more...
SBA details PPP forgiveness platform
A Small Business Administration user guide offers details on the Paycheck Protection Program forgiveness platform scheduled to go live this Monday, Aug. 10. The SBA user guide provides a link to...
Main Street, Inc. Acquires Marketing Technology Software Provider Onovative
Main Street, Inc. Acquires Marketing Technology Software Provider Onovative BIRMINGHAM, AL – Main Street, Inc., a leading provider of data-driven print services to community financial institutions...
ICBA payments brief focuses on small biz
ICBA's latest Payments Executive Brief focuses on how community banks can use payments to take advantage of small-business opportunities. The 12th in a series of briefs discusses how payments can...
Visa American Mood Trend (August 2020)
Visa American Mood Trend (August 2020) Visa’s economists report on the dip in consumer confidence in July, how back-to-school spending will differ in 2020, and expectations for business conditions...
Grassroots push continues amid stimulus debate
As negotiations over the next emergency stimulus package continue, ICBA is calling on community bankers to urge needed reforms. ICBA's Be Heard grassroots action centeroffers specific...
ICBA seeks clear rules on PPP agent relationships
ICBA seeks clear rules on PPP agent relationships ICBA called on the Treasury Department and SBA to clarify rules on Paycheck Protection Program fees paid to agents that assist borrowers or...
USDA survey measuring areas for improvement
The USDA announced a new annual survey of farmers, ranchers and private forestland owners. The survey is designed to help the USDA understand what it is doing well and where improvements are...
TCM Bank Announces New Board Members
TCM Bank Announces New Board Members Washington, D.C. (Aug 7, 2020 ) — TCM Bank, N.A., a subsidiary of ICBA Bancard, announced that Gregory Hohl, chairman and president of Wahoo State Bank in...
ICBA Names Michael Marshall as Director of Regulatory, Legal Affairs
Washington, D.C. (Aug. 7, 2020) — The Independent Community Bankers of America (ICBA) announced today the hire of its government relations legal intern Michael Marshall as director of regulatory...
Bipartisan bill offers relief to USDA borrowers
Bipartisan bill offers relief to USDA borrowers ICBA-supported legislation to provide loan relief to rural communities was introduced in the House and Senate. The bipartisan Rural Equal Aid Act...
FHFA: landlords must inform tenants of protections
The Federal Housing Finance Agency said multifamily property owners with mortgages backed by Fannie Mae or Freddie Mac that enter into forbearance agreements must inform tenants in writing about...
Fed announces details of real-time payments service
Fed announces details of real-time payments service The Federal Reserve Board released details of its forthcoming FedNow real-time payments service, which it is seeking to launch in 2023 or 2024....
ICBA continues pushing key stimulus policies
ICBA continues pushing key stimulus policies With Congress and the Trump administration negotiating the next stimulus package, ICBA continues calling on community bankers to urge needed reforms....
Senate panel approves NCUA, SEC nominees
2020-08-06 Senate panel approves NCUA, SEC nominees The Senate Banking Committee approved the nominations of Kyle Hauptman for the National Credit Union Administration Board as well as Hester...
ICBA urges PPP reforms ahead of expiration
ICBA urges PPP reforms ahead of expiration ICBA expressed strong support for Senate Small Business Committee Chairman Marco Rubio's (R-Fla.) efforts to renew and simplify the Paycheck Protection...
Cybersecurity agency releases resiliency guide
2020-08-06 Cybersecurity agency releases resiliency guide The Cybersecurity and Infrastructure Security Agency this week issued a fact sheet highlighting cyber resiliency resources provided by the...
USDA extends deadlines, defers interest accrual
USDA extends deadlines, defers interest accrual USDA's Risk Management Agency said it will authorize approved insurance providers to extend deadlines for premium and administrative fee payments,...
FinCEN issues FAQs on customer due diligence
2020-08-04 FinCEN issues FAQs on customer due diligence The Financial Crimes Enforcement Network issued responses to three frequently asked questions regarding customer due diligence requirements...
Independent Banker covers core negotiations
Independent Banker covers core negotiations The August issue of Independent Banker magazine focuses on how community banks can get the most out of contract negotiations with core providers. The...
ICBA posts guide on Economic Injury Disaster Loan liens
2020-08-04 ICBA posts guide on Economic Injury Disaster Loan liens ICBA posted a new guide to Small Business Administration lien requirements on Economic Injury Disaster Loans after seeking SBA...
Small biz switching to community banks: WSJ
Small biz switching to community banks: WSJ Many small businesses have switched from large banks to community banks amid the COVID-19 pandemic because of their successful implementation of the...
Agencies issue principles as loan-accommodation periods end
2020-08-04 Agencies issue principles as loan-accommodation periods end Federal regulators released risk management and consumer protection principles for financial institutions to consider while...
ICBA continues support for House PPP forgiveness bill
ICBA continues support for House PPP forgiveness bill ICBA and other groups expressed strong support for the House version of ICBA-advocated legislation to forgive Paycheck Protection Program loans...
ICBA continues pushback against postal banking amendment
2020-07-31 ICBA continues pushback against postal banking amendment ICBA continued pushing back against a pending amendment to a 2021 spending bill that would fund a postal banking pilot program at...
Stimulus grassroots push continues
Stimulus grassroots push continues ICBA continues calling on community bankers to use its Be Heard grassroots action center to urge Congress to advance ICBA's specific recommendations in the next...
ICBA Reinsurance Announces New Board Member
Washington, D.C. (July 30, 2020) — ICBA Reinsurance, the captive reinsurance company of the Independent Community Bankers of America (ICBA), today announced that William Loving, president and CEO...
PPP forgiveness bill introduced in House
PPP forgiveness bill introduced in House ICBA thanked Rep. Chrissy Houlahan (D-Pa.) for introducing the House version of ICBA-advocated legislation to forgive Paycheck Protection Program loans...
ICBA backs legal challenge to OCC fintech charter
ICBA filed a friend-of-the-court brief supporting the New York Department of Financial Services lawsuit challenging the Office of the Comptroller of the Currency's special-purpose national bank...
House passes postal banking amendment
House passes postal banking amendment The House passed an ICBA-opposed amendment to a 2021 spending bill that would fund a postal banking pilot program at the U.S. Postal Service. The amendment to...
ICBA backs limited scope of debt-collection rule
ICBA said it supports how the Consumer Financial Protection Bureau structured its notice of proposed rulemaking on disclosures for collecting time-barred debt, or old debt that is no longer legally...
FHFA extends policy on forbearance loan purchases
FHFA extends policy on forbearance loan purchases The Federal Housing Finance Agency extended a temporary policy that allows for the purchase of certain single-family mortgages in forbearance that...
ICBA Brief Backs Legal Challenge to OCC Fintech Charter
Washington, D.C. (July 31, 2020) — The Independent Community Bankers of America (ICBA) filed a friend-of-the-court brief supporting the New York Department of Financial Services lawsuit challenging...
CFPB posts new HMDA FAQs
CFPB posts new HMDA FAQs The Consumer Financial Protection Bureau released new frequently asked questions on the Home Mortgage Disclosure Act. The FAQs cover reporting requirements for certain data...
Next ICBA advocacy briefing set for Monday
ICBA scheduled its next Community Bank Briefing on Paycheck Protection Program loan forgiveness and other regulatory issues. Scheduled for 3 p.m. (Eastern time) this Monday, Aug. 3, the webinar...
ICBA seeks clarity on Economic Injury Disaster Loan liens
ICBA seeks clarity on Economic Injury Disaster Loan liens ICBA is seeking clarity from the SBA on its treatment of Economic Injury Disaster Loans. The SBA requires collateral on EIDL loans over...
NCUA finalizes field-of-membership rule
The National Credit Union Administration finalized its embattled field-of-membership rule significantly expanding the service areas in which community credit unions can do business. Among its...
Groups join ICBA in urging closure of ILC loophole
2020-07-30 Groups join ICBA in urging closure of ILC loophole ICBA and other groups urged Congress to impose a three-year moratorium on industrial loan company licensing applications. In a joint...
Kraninger encourages input on reg environment
Kraninger encourages input on reg environment Consumer Financial Protection Bureau Director Kathleen Kraninger encouraged public input on the bureau's request for information on the regulatory...
ICBA to Congress: Heed the Economic Recovery Experts
Data Demonstrate Community Bank Impact as Senate Debates New Stimulus Washington, D.C. (July 28, 2020)—With new Small Business Administration data showcasing the outsized role of community banks in...
Senate stimulus plan includes PPP reforms
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...
ICBA opposes OCC talk of narrow-purpose payments charter
ICBA and other groups expressed opposition to the OCC's recent discussions to offer a narrowly focused payments charter. Citing financial industry pushback on the OCC's proposed special-purpose...
Banking and Consumer Groups Call on Congress to Close ILC Loophole
Banking and Consumer Groups Call on Congress to Close ILC Loophole Washington, D.C. (July 29, 2020) — The Bank Policy Institute (BPI), Center for Responsible Lending (CRL) and Independent Community...
Lender Livestock Trust Letter 7-28-20
The Honorable Pat Roberts Chairman U.S. Senate Committee on Agriculture, Nutrition & Forestry Washington, D.C. 20510 The Honorable Debbie Stabenow Ranking Member U.S. Senate Committee on...
ICBA Securities Announces New Board Member
2020-07-28 ICBA Securities Announces New Board Member Washington, D.C. (July 28, 2020) — ICBA Securities, the broker-dealer subsidiary of the Independent Community Bankers of America (ICBA), today...
Op-ed: Congress should close ILC loophole
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...
ICBA Services Network Announces New Board of Directors Member
2020-07-27 ICBA Services Network Announces New Board of Directors Member Washington, D.C. (July 27, 2020) — ICBA Services Network, the business services subsidiary of the Independent Community...
Visa American Mood Trend (July 2020)
Visa American Mood Trend (July 2020) 2020-07-26 Visa economists report that consumer confidence is slowly rebounding, Gen Z consumers worry about public health than the economy or their own health,...
CFPB seeking feedback on small-biz reporting costs
2020-07-28 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...
Mastercard white paper: Authentication, intelligence, and the consumer journey
Mastercard white paper: Authentication, intelligence, and the consumer journey In this brief, you’ll learn how a holistic approach to payments security – leveraging the full spectrum of active and...
Visa Payments Ecosystem highlights 2Q 2020
2020-07-27 Visa Payments Ecosystem highlights 2Q 2020 The latest "Visa Payments Ecosystem Highlights" report summarizes recent themes and developments associated with key payments players from...