Senate bill would forgive PPP loans under $150K

Jul 2, 2020 | NewsWatch Today
Senate Banking Committee member Kevin Cramer (R-N.D.) introduced ICBA-supported legislation that would forgive Paycheck Protection Program loans under $150,000.

Regulators warn of LIBOR transition risks

Jul 2, 2020 | NewsWatch Today
Financial regulators issued a joint statement highlighting the risks of transitioning from LIBOR. The Federal Financial Institutions Examination Council encouraged institutions to continue the switch to alternative reference rates to mitigate financial, legal, operational, and consumer protection risks.

ICBA to FDIC: Commercial firms should not own ILCs

Jul 2, 2020 | NewsWatch Today
ICBA commended the FDIC for working to strengthen its supervisory processes for non-commercial parent companies of industrial loan companies, but it said the agency's proposal falls short of ensuring the safety and soundness of these companies.

FDIC ILC Rule Comment Letter

Jul 1, 2020 | Letters to Regulators
The Independent Community Bankers of America appreciates this opportunity to provide feedback to the Federal Deposit Insurance Corporation’s request for comments in response to its Notice of Proposed Rulemaking on the supervision of the Parent Companies of Industrial Banks and Industrial Loan Companies.

ICBA opposes resubmitted Rakuten ILC application

Jul 1, 2020 | NewsWatch Today
ICBA called on the FDIC to deny Rakuten Bank America’s resubmitted federal deposit insurance application and urged Congress to permanently close the industrial loan company loophole.

Senate votes to extend PPP into August

Jul 1, 2020 | NewsWatch Today
The Senate passed legislation to extend the Paycheck Protection Program application deadline until Aug. 8, sending it to the House hours before the SBA stopped accepting PPP applications.

ICBA: Bill to establish PPP calculator supports small biz

Jul 1, 2020 | NewsWatch Today
ICBA thanked Reps. Ann Wagner (R-Mo.) and Wm. Lacy Clay (D-Mo.) for introducing legislation to establish a free online calculator to complete Paycheck Protection Program loan-forgiveness forms.

ICBA urges passage of military-banking parity

Jul 1, 2020 | NewsWatch Today
ICBA urged congressional leaders to support a provision of the Senate's 2021 National Defense Authorization Act that would promote parity between banks and credit unions on military bases.

ICBA Opposes Rakuten's Resubmitted ILC Application

Jun 30, 2020 | Press Release
The Independent Community Bankers of America® (ICBA) called on the Federal Deposit Insurance Corp. to deny Rakuten Bank America’s resubmitted federal deposit insurance application and urged Congress to permanently close the industrial loan company loophole.

FinCEN issues BSA/AML guidance on hemp businesses

Jun 30, 2020 | NewsWatch Today
The Financial Crimes Enforcement Network issued guidance on BSA/AML regulatory requirements for hemp-related business customers.

Supreme Court won't consider credit union redlining case

Jun 30, 2020 | NewsWatch Today
The U.S. Supreme Court declined to review the National Credit Union Administration's field-of-membership rules, ending an ICBA-supported legal challenge going back several years.

CFPB directors may be removed at will, Supreme Court rules

Jun 30, 2020 | NewsWatch Today
The U.S. Supreme Court ruled that the Consumer Financial Protection Bureau's single-director governance structure is unconstitutional and that the president must have the authority to remove the bureau head.

Bill would establish PPP loan-forgiveness calculator

Jun 30, 2020 | NewsWatch Today
Reps. Ann Wagner (R-Mo.) and Wm. Lacy Clay (D-Mo.) introduced legislation to establish a free online calculator to complete Paycheck Protection Program loan-forgiveness forms.

ICBA backs amendment to advance 'beneficial owner' reform

Jun 30, 2020 | NewsWatch Today
ICBA and other groups called on Senate leaders to include "beneficial ownership" disclosure relief in the 2021 National Defense Authorization Act.

PPP loans continue climb ahead of deadline

Jun 30, 2020 | NewsWatch Today
Community bank Paycheck Protection Program loans continued to climb ahead of today's deadline for borrower applications, according to an SBA summary of loan approvals through June 27.

ICBA Statement on Supreme Court Decision in Credit Union Redlining Case

Jun 29, 2020 | Press Release
Independent Community Bankers of America President and CEO Rebeca Romero Rainey issued the following statement on today's Supreme Court decision not to review the National Credit Union Administration's field-of-membership rules.

Contact Congress on next pandemic relief package

Jun 29, 2020 | NewsWatch Today
As Congress considers the next COVID-19 legislative relief package, ICBA is calling on community bankers to provide lawmakers with policy recommendations that will support local communities.

Agencies propose revised flood insurance Q&As

Jun 29, 2020 | NewsWatch Today
Regulators requested public comment on new and revised interagency questions and answers on flood insurance.

PPP shines light on community banks

Jun 29, 2020 | NewsWatch Today
The Paycheck Protection Program has cast a national light on the role of community banks in supporting small businesses, ICBA President and CEO Rebeca Romero Rainey writes in Main Street Matters.

ICBA offers scholarship for veterans

Jun 29, 2020 | NewsWatch Today
ICBA and The American College of Financial Services are offering a new “20 in 2020” scholarship for veterans and their families seeking careers as community bankers.