NewsWatch Today

ICBA continues calling on community bankers to complete its State of Advocacy survey to help identify new and existing community banker relationships with members of Congress.

ICBA-supported legislation to prevent avoidable foreclosures, evictions, and utility shut-offs was introduced by Sen. Jack Reed (D-R.I.), Senate Banking Committee Chairman Sherrod Brown (D-Ohio), and Senate Appropriations Committee Chairman Patrick Leahy (D-Vt.).

The Federal Reserve moved up its planned industrywide launch of the FedNow instant payments service by up to a full year to 2023. The announcement narrows the industrywide delivery timeframe from 2023-2024.

Academy Award-winning actor Matthew McConaughey, magic teacher Vinh Giang, status quo questioner Jessica Matthews, social entrepreneur Michelle Poler, and peak performance teacher Dan Thurmon posted videos encouraging ICBA Connect participation.

The February issue of Independent Banker focuses on why Black-owned banks are crucial to lifting the economic fortunes of African Americans.

Insured depository institutions under $10 billion in assets have made more than half of 2021 first- and second-draw Paycheck Protection Program loans, according to SBA data.

ICBA called on federal regulators to expand their efforts to streamline community bank call reporting to recognize the impact of Paycheck Protection Program lending.

The SBA updated its frequently asked questions on the Paycheck Protection Program with guidance on the Financial Crimes Enforcement Network and BSA/AML compliance.

The Consumer Financial Protection Bureau issued its 2021 list of consumer reporting companies. The list includes the three nationwide consumer reporting companies as well as other companies.

The SBA issued several notices on its loan programs, including updated guidance on the tax implications of the six months of 7(a), 504, and Microloan payments it is making for borrowers under Section 1112 of the CARES Act.

The IRS on Friday reissued 1.2 million Economic Impact Payments through the ACH network with an effective date of this Wednesday, Feb. 3. Another 2.3 million reissued EIP2 checks are scheduled to be printed and mailed by Friday, Feb. 5.

The SBA issued a procedural notice and additional resources on resolving issues with first-draw Paycheck Protection Program loans to ensure borrower eligibility for second-draw loans, including codes to submit to the PPP loan platform.