ICBA called on the Financial Crimes Enforcement Network to amend its customer due diligence rules and withdraw its requirement that banks collect beneficial ownership information.
ICBA and other groups told Congress they oppose legislative efforts to repeal the OCC’s “true lender” rule. The OCC rule, which ICBA supported in a comment letter last year, creates a standard to determine when a bank is the “true lender” when partnering with a third party.
ICBA and other groups this week called on the OCC to formally withdraw its Community Reinvestment Act rule or delay its January 2023 compliance date for at least two years.
Americans have entered a new, hopeful phase of the pandemic as the outlook has improved across the nation, with cases and hospitalizations at their lowest points in nearly seven months, and deaths from Covid-19 have not been this low since July.
ICBA announced today that Kristina Morris has joined as director of innovation. In this role Morris will work with the ICBA ThinkTECH Accelerator cohort, leading portfolio management activities and program development to support ICBA’s overall innovation strategy.
The Federal Reserve Board proposed guidelines for evaluating requests for accounts with the Fed and access to the payments system, as advocated by ICBA.
The Treasury Department extended its program to invest in Minority Depository Institutions and Community Development Financial Institutions, as requested by ICBA.
The Small Business Administration said Wednesday that the Paycheck Protection Program has been exhausted, and as of Sunday, the PPP had given out nearly 10.8 million loans worth more than $780 billion since April of last year.
The Paycheck Protection Program’s general fund was reportedly exhausted Tuesday ahead of the program’s May 31 authorization, though some PPP funds remain for certain loans and lenders.
The Consumer Financial Protection Bureau said more needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn.
While increasing financial inclusion and improving U.S. Postal Service financial stability are worthy goals, postal banking would accomplish neither, Pennsylvania Association of Community Bankers President and CEO Kevin L. Shivers wrote.
So far, about 145 million adults - about 56% of the adult population in the US - have received at least one dose of Covid-19 vaccine, according to the latest data from the US Centers for Disease Control and Prevention.
Confirmed coronavirus cases in the US rose at the slowest pace since the pandemic began in the week ended Sunday, according to data compiled by Johns Hopkins University and Bloomberg.
A recent column from Federal Reserve Gov. Michelle Bowman provides an update on regulatory efforts to promote community bank innovation and partnerships with fintech firms.
Financial institutions’ strong capital and liquidity positions have enabled the banking system to support the U.S. economic recovery, the Federal Reserve reported.
Today is the deadline to submit nominations and votes for ICBA’s updated National Community Bank Service Award program. This year’s awards recognize exceptional service, emerging service programs, and the people's choice.
