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ICBA and 42 state community banking associations issued specific recommendations for the next economic stimulus package as Congress prepares new legislation. Meanwhile, community bankers can weigh in via ICBA's Be Heard grassroots action center.
In a joint letter to congressional leaders, the groups advocated Paycheck Protection Program reforms, capital and accounting relief, liability protection, agricultural support, extending the qualified mortgage "patch," and more.
Several of ICBA’s recommendations are already moving in Congress, including bipartisan bills to forgive PPP loans under $150,000 and establish a free online calculator to complete PPP loan-forgiveness forms.
The customizable message to lawmakers on Be Heard outlines the community bank policy recommendations and existing legislation advancing the policies.
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Citing problems with credit union industry transparency, oversight, and unfair competition, the National Taxpayers Union told key members of Congress that it opposes expanding the credit union member-business-lending cap unless several conditions are met.
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The Financial Crimes Enforcement Network issued an advisory on a high-profile scam exploiting Twitter accounts to solicit fraudulent virtual currency payments.
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The Consumer Financial Protection Bureau reported on more than 8,000 complaints it received from January through May that mention the coronavirus or related terms. Mortgage, credit card, and credit or consumer reporting complaints top the list.
ImageJul 17, 2020
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