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.
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 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 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.
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.
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.
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.
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.
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.
