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ICBA issues summary on new BSA/AML law

Feb 18, 2021 | NewsWatch Today
ICBA recently issued a summary on the defense spending law enacted at the beginning of the year that includes BSA/AML reforms.

SBA shortens period for relief payments

Feb 17, 2021 | NewsWatch Today
The SBA issued new guidance adjusting the number of months of 7(a), 504, and Microloan payments it is making for borrowers under Section 1112 of the CARES Act, as amended by Section 325 of the Economic Aid Act.

OCC allows closures due to Winter Storm Uri

Feb 17, 2021 | NewsWatch Today
The OCC issued a proclamation allowing national banks and federal savings associations to close offices affected by Winter Storm Uri at their discretion.

White House extends forbearance, foreclosure protections

Feb 17, 2021 | NewsWatch Today
The Biden administration extended the foreclosure moratorium and mortgage forbearance on certain loans through the end of June.

SBA issues new loan program guidance

Feb 16, 2021 | NewsWatch Today
The SBA on Friday night issued two notices on its lending programs. Further PPP information and resources are available on the SBA and Treasury sites and ICBA's PPP and EIP News page.

ICBA continues opposition to Rakuten ILC application

Feb 16, 2021 | NewsWatch Today
Rakuten Bank America’s resubmitted deposit insurance application continues to pose risks of mixing banking and commerce due to Rakuten Inc.’s diverse and global commercial activities, ICBA told the FDIC.

ICBA to OCC: Rescind unvetted charter policy shift

Feb 16, 2021 | NewsWatch Today
ICBA and other groups asked the OCC to rescind an interpretive letter expanding eligibility to apply for a national trust charter as well as the conditional charter approvals for Anchorage Digital Bank and Protego Trust Bank.

Fed extends rule allowing PPP loans to directors

Feb 10, 2021 | NewsWatch Today
The Federal Reserve Board again extended its rule allowing certain bank directors and shareholders to apply to their banks for Paycheck Protection Program loans for their small businesses.

OCC rescinds CRA benchmarking survey

Feb 10, 2021 | NewsWatch Today
The OCC said national banks over $2.5 billion in assets are not required to respond to a Community Reinvestment Act benchmarking survey, as advocated by ICBA.

Smaller lenders continue leading PPP lending

Feb 10, 2021 | NewsWatch Today
Insured depository institutions under $10 billion in assets in 2021 have approved more than 608,000 Paycheck Protection Program loans worth $39.4 billion, according to the latest SBA data.

SBA begins EIDL repayments today

Feb 9, 2021 | NewsWatch Today
The SBA today will begin remitting reconciliation payments for Paycheck Protection Program loans with a forgiveness payment that was reduced by the amount of an Economic Injury Disaster Loan advance.

ICBA pitches provisions for pending relief package

Feb 9, 2021 | NewsWatch Today
ICBA today is advancing its recommendations for the pandemic relief package before Congress. Developed with community bankers, the ICBA recommendations in today's letter to Congress include, among other things, expanding support for the PPP.