Blog discusses intersection between fintech and regulation

Aug 17, 2020 | NewsWatch Today
Unless you have been living on a desert island for the past few years, you would be hard-pressed to miss the technological revolution that is sweeping our nation’s financial system and the larger global economy, ICBA’s Chris Cole and Charles Potts write in a recent Main Street Matters blog.

Regulators clarify enforcement actions for BSA/AML violations

Aug 17, 2020 | NewsWatch Today
The federal financial regulatory agencies issued a joint statement clarifying their enforcement approach for Bank Secrecy Act/anti-money laundering obligations and the circumstances under which an agency would take action to address BSA/AML deficiencies.

Visa U.S. Economic Outlook (August 2020)

Aug 17, 2020 | News
After solid job growth and robust consumer spending readings in May and June, the U.S. economy was cruising along at a decent speed of recovery.

ICBA Responds to GSE decision to impose 50bp fee on mortgage refinances

Aug 14, 2020 | NewsWatch Today
Plans to impose a 50 basis point fee on most refinance mortgages delivered to Fannie Mae and Freddie Mac after Sept. 1 will unnecessarily raise the cost of mortgage credit for consumers.

ICBA ThinkTECH partner named top accelerator program by Finovate

Aug 14, 2020 | NewsWatch Today
ICBA’s ThinkTECH Accelerator partner, The Venture Center, will be recognized during the Finovate fall virtual conference in September for its efforts to nurture quality fintech companies and prime them for success.

Op-ed notes rising credit union acquisitions in the Midwest

Aug 14, 2020 | NewsWatch Today
The recent purchase of West End Bank by 3Rivers Federal Credit Union last month, is part of a disturbing trend of large, billion-dollar credit unions buying small community banks, writes Thomas Aiello of the National Taxpayers Union.

Grassroots push continues amid stimulus debate

Aug 14, 2020 | NewsWatch Today
As negotiations over the next emergency stimulus package continue, ICBA is calling on community bankers to urge needed reforms.

ICBA Statement on Fannie Mae/Freddie Mac Decision to Impose 50 Basis Point Fee on Mortgage Refinances

Aug 13, 2020 | Press Release
The Independent Community Bankers of America today issued a statement regarding the recent decision made by Fannie Mae and Freddie Mac to impose a 50 basis point fee on most refinance mortgages that are delivered to the GSEs as of September 1, 2020.

ICBA kicks off ThinkTECH 3.0

Aug 13, 2020 | NewsWatch Today
ICBA announced the kickoff of its third ICBA ThinkTECH Accelerator program in partnership with The Venture Center.

Blog discusses intersection between fintech and regulation

Aug 13, 2020 | NewsWatch Today
Unless you have been living on a desert island for the past few years, you would be hard-pressed to miss the technological revolution that is sweeping our nation’s financial system and the larger global economy, ICBA’s Chris Cole and Charles Potts write in a new blog post.

Kennedy to FDIC: Stop companies from taking advantage of ILC loophole

Aug 13, 2020 | NewsWatch Today
Sen. John Kennedy (R-La.) wrote to FDIC Chairman Jelena McWilliams urging her not to allow industrial loan companies to exploit a loophole in the Bank Holding Company Act during the coronavirus pandemic.

CISA issues alert on SBA COVID-19 relief website attack

Aug 13, 2020 | NewsWatch Today
The Cybersecurity and Infrastructure Security Agency issued an alert concerning an unknown malicious cyber actor spoofing the Small Business Administration's COVID-19 relief webpage via phishing emails.

Fintech Application Period Kicks Off for ICBA ThinkTECH Accelerator

Aug 12, 2020 | Press Release
ICBA today opened the application period for its third ICBA ThinkTECH Accelerator program in partnership with The Venture Center. The latest iteration of this global fintech accelerator continues ICBA’s mission to create and promote an environment where community banks flourish.

SBA issues interim final rule on loan review, updates FAQs

Aug 12, 2020 | NewsWatch Today
The SBA released an interim final rule on appeals of SBA loan review decisions under the Paycheck Protection Program that outlines the process for borrowers to appeal adverse SBA decisions.

ICBA seeks extension on ECOA RFI deadline

Aug 12, 2020 | NewsWatch Today
ICBA joined other groups urging the Consumer Financial Protection Bureau not to rush potential changes to the Equal Credit Opportunity Act.

HUD sets aside funding to help low-income households amid COVID-19

Aug 12, 2020 | NewsWatch Today
The Department of Housing and Urban Development announced $472 million in CARES Act funding to help low-income families during the coronavirus pandemic.

Smaller lenders lead on PPP: SBA data

Aug 12, 2020 | NewsWatch Today
Lenders under $10 billion in assets have made some 2.74 million Paycheck Protection Program loans worth more than $233 billion through both rounds of funding, the SBA reported.

Main Street, Inc. Acquires Marketing Technology Software Provider Onovative

Aug 11, 2020 | Industry News From Corporate Members
Main Street, Inc., a leading provider of data-driven print services to community financial institutions across the nation, announced today the acquisition of Onovative, an automated marketing technology software provider based in Louisville, Kentucky.

ICBA’s Romero Rainey to policymakers: streamline PPP forgiveness process

Aug 11, 2020 | NewsWatch Today
Policymakers need to simplify the onerous forgiveness process for small businesses to ensure the Paycheck Protection Program fulfills its purpose to support the nation’s top job creators, ICBA President and CEO Rebeca Romero Rainey writes in a new op-ed in The Hill.

ICBA to CFPB: extend GSE patch

Aug 11, 2020 | NewsWatch Today
ICBA filed a comment letter urging the Consumer Financial Protection Bureau to extend its policy exempting Fannie Mae and Freddie Mac mortgage loans from the bureau’s Qualified Mortgage rule to January 2022 or one year from the finalization of any proposed rule.