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SBA issues change-of-ownership procedures for PPP borrowers

SBA issues change-of-ownership procedures for PPP borrowers The SBA issued a notice on the required procedures for changes of ownership of Paycheck Protection Program borrowers. The SBA issued a...

Oct 05, 2020
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Article
Advocacy Lending

IRS: Lenders shouldn't report PPP loan forgiveness

IRS: Lenders shouldn't report PPP loan forgiveness The IRS recently issued guidance clarifying that lenders should not file information returns or furnish payee statements to report the amount of...

Oct 05, 2020
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Article
Crisis Preparedness

ICBA working with agencies on reducing TRID burden

ICBA working with agencies on reducing TRID burden ICBA announced a collaboration with the Federal Reserve and Consumer Financial Protection Bureau to test certain community bank-inspired...

Oct 02, 2020
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Article
Compliance

Fed's Brainard: Community banks key to CRA modernization

Fed's Brainard: Community banks key to CRA modernization The Federal Reserve relied on ICBA and community bank input in developing its recent advance notice of proposed rulemaking on modernizing...

Oct 02, 2020
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Article
Community Reinvestment Act (CRA)

FinCEN warns of cryptocurrency risk

FinCEN warns of cryptocurrency risk Banks should expect examiners and the Financial Crimes Enforcement Network to ask about risk exposure related to virtual currencies, FinCEN Director Kenneth...

Oct 01, 2020
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Article
Cybersecurity Technology

Flood insurance extension passes

Flood insurance extension passes The Senate passed a short-term spending package that includes a one-year extension of the National Flood Insurance Program. The Senate passed a short-term spending...

Oct 01, 2020
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Article
Flood Insurance

Preserving the Integrity of the Bank Charter: The Community Bank Perspective

Preserving the Integrity of the Bank Charter: The Community Bank Perspective Community banks welcome technological innovation, but we must also recognize that technological change underscores the...

Sep 29, 2020
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Article
Commerce & Banking Payments Fintech Regulation

ICBA to CFPB: Expand 'seasoned' QM plan

ICBA to CFPB: Expand 'seasoned' QM plan ICBA encouraged the CFPB to expand on its proposal to create a new category of "seasoned" qualified mortgages. ICBA encouraged the CFPB to expand on its...

Oct 02, 2020
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Article
Consumer Financial Protection Bureau (CFPB)