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ICBA urges Congress to pass stimulus relief

Dec 9, 2020 | NewsWatch Today
ICBA called on Congress to enact pandemic relief legislation before the close of the 116th Congress.

SBA details tax reporting on covered 7(a) payments

Dec 9, 2020 | NewsWatch Today
The SBA issued a notice on the six months of 7(a), 504, and Microloan payments it is making for borrowers under Section 1112 of the CARES Act.

Bowman: Fed to offer best practices on fintech partnerships

Dec 7, 2020 | NewsWatch Today
The Federal Reserve plans to publish a white paper early next year on community bank partnerships with fintech companies and effective practices for managing those arrangements, Fed Governor Michelle "Miki" Bowman told ICBA community bankers.

ICBA urges Congress to pass 'beneficial owner' reform

Dec 7, 2020 | NewsWatch Today
ICBA called on members of Congress to pass a compromise defense spending bill that includes a key step toward ICBA-advocated relief from "beneficial ownership" disclosure mandates.

ARRC issues guide on LIBOR developments

Dec 7, 2020 | NewsWatch Today
The Alternative Reference Rates Committee released a guide and webinar recording on recent announcements on the transition from U.S. dollar LIBOR.

'Beneficial owner' reform included in defense bill set for final vote

Dec 4, 2020 | NewsWatch Today
ICBA-advocated legislative language to provide relief from "beneficial ownership" disclosure mandates is included in compromise spending legislation headed to a final congressional vote.

ICBA pushes PPP expense deductibility

Dec 4, 2020 | NewsWatch Today
ICBA and more than 500 other groups called on Congress to pass a technical correction amending the CARES Act to explicitly provide that PPP loan-forgiveness funds that cover business expenses are tax deductible.

Scott, Thompson set to take over House Ag Committee

Dec 4, 2020 | NewsWatch Today
Rep. David Scott (D-Ga.) will be the next House Agriculture Committee chairman after winning the vote of the House Democratic Caucus.

Community bank net income rises 10%: FDIC

Dec 2, 2020 | NewsWatch Today
Community bank net income increased 10 percent in the third quarter from the same time last year, according to the FDIC's Quarterly Banking Profile.

FBI: cyber criminals targeting web-based email

Dec 2, 2020 | NewsWatch Today
The FBI recently issued a Private Industry Notification warning that cyber criminals are taking advantage of the work-from-home environment to exploit web-based email applications.

OCC reduces assessments for 2021

Dec 2, 2020 | NewsWatch Today
The OCC said it is reducing rates in all fee schedules by 3 percent for the 2021 calendar year. The reduced assessments go into effect Jan. 1.

ICBA: No disparate impact liability under ECOA

Dec 2, 2020 | NewsWatch Today
ICBA told the Consumer Financial Protection Bureau that "disparate impact" liability is not legally cognizable under the Equal Credit Opportunity Act.