Community banks were essential to the success of the Paycheck Protection Program by serving the smallest businesses outside the focus of larger banks, Federal Reserve Governor Michelle "Miki" Bowman said.

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

ICBA President and CEO Rebeca Romero Rainey is scheduled to join top regulators at 3 p.m. (Eastern time) today for a virtual roundtable discussion on homeownership.

The competitive landscape of the banking industry has changed substantially since the Bank Merger Competitive Review Guidelines were adopted in 1995. ICBA strongly believes it is appropriate to update the approach to reviewing bank mergers.

Community banks welcome technological innovation, but we must also recognize that technological change underscores the importance of a robust legal framework to ensure consumer protection as well as the safety and soundness of our institutions.

With the regulatory agencies committing to tougher and more inclusive BSA/AML exams, Community Banker University is hosting an upcoming BSA/AML Institute.

Politico reported on the frustrations of community banks and other lenders with the Paycheck Protection Program's loan-forgiveness process.

ICBA filed a comment letter opposing the SEC's proposal to raise the threshold over which institutional investment managers are required to file quarterly Form 13F reports.

While Congress continues to work on another stimulus package, the House Financial Services Committee has a virtual hearing this week on fintech payments.

The Financial Stability Oversight Council largely endorsed the Federal Housing Finance Agency's proposal to raise capital requirements on Fannie Mae and Freddie Mac.

ICBA urged Congress to immediately pass stand-alone legislation to simplify Paycheck Protection Program loan forgiveness to preserve the success of the program.

ICBA today urged Congress to immediately pass stand-alone legislation to help millions of small businesses by simplifying Paycheck Protection Program loan forgiveness.

A simplified forgiveness process is urgently needed to ensure the PPP does not become a quagmire of red tape for lenders and borrowers, distracting them from the hard work of restoring employment growth.

ICBA today is repeating its call for a simplified Paycheck Protection Program forgiveness process in a statement for a House subcommittee hearing.

ICBA's push for policymakers to address the impact of Paycheck Protection Program loans on regulatory asset thresholds continued making headway.

The Federal Housing Finance Agency said Fannie Mae and Freddie Mac will extend from Sept. 30 to Oct. 31 the deadline on buying qualified loans in forbearance.

The IRS issued guidance clarifying that lenders should not file information returns or furnish payee statements to report the amount of qualifying forgiveness on Paycheck Protection Program loans.

The complexity and lack of guidance surrounding Paycheck Protection Program loan forgiveness could limit the effectiveness of future rounds of the program, the GAO reported.

The House passed ICBA-supported legislation that would modify regulatory processes to support Minority Depository Institutions.

The Treasury Department and IRS lack updated information on how many eligible Economic Impact Payment recipients have yet to receive their funds, the GAO said.