Fintech company SoFi applied for a full-service national bank charter with the OCC after withdrawing its industrial loan company application nearly three years ago, according to reports.
ICBA continued pushing back against a National Credit Union Administration proposal that would allow the largest and most complex credit unions to issue subordinated debt as an alternative form of capital.
Nearly 140 other organizations joined ICBA in urging Congress to advance legislation that would forgive Paycheck Protection Program loans under $150,000.
Independent Banker, the award-winning magazine of the Independent Community Bankers of America and the number-one source for community banking news, announced its rankings of the top community bank loan producers for 2020 in the July issue.
ICBA this week released talking points and a sample letter to PPP borrowers about the SBA and Treasury Department release of information about individual Paycheck Protection Program loans.
ICBA urged the House Appropriations Subcommittee on Defense to ensure the fiscal 2021 defense spending bill does not include any expansion of the Farm Credit System.
The Consumer Financial Protection Bureau issued a final rule on small-dollar lending that rescinds the mandatory underwriting provisions of the 2017 rule but keeps its payments provisions.
The Consumer Financial Protection Bureau ratified most regulatory actions it took from Jan. 4, 2012, through June 30, 2020. The CFPB said the move provides the financial marketplace with certainty that the rules are valid following last week's Supreme Court ruling that the bureau's single-director governance structure is unconstitutional.
ICBA this week released talking points and a sample letter to PPP borrowers about the SBA and Treasury Department release of information about individual Paycheck Protection Program loans.
The IRS cancelled outstanding Economic Impact Payment checks issued to recipients who may not be eligible for the stimulus payments, including those who might be deceased.
Following the SBA and Treasury Department release of information about individual Paycheck Protection Program loans, ICBA released talking points and a sample letter to PPP borrowers about the agency announcement.
ICBA thanked Sens. Angus King (I-Maine) and John Kennedy (R-La.) for introducing legislation to establish a free online calculator to complete Paycheck Protection Program loan-forgiveness forms.
The Consumer Financial Protection Bureau posted frequently asked questions about prioritized assessments, a new supervisory approach the bureau developed in response to the COVID-19 pandemic.
ICBA said community banks will continue working to meet the needs of their communities after Congress passed and President Trump signed a law extending the Paycheck Protection Program application deadline.
