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FDIC board meeting on ILC parent companies, brokered deposits

Dec 14, 2020 | NewsWatch Today
The FDIC board of directors is set to meet tomorrow to vote on a final rule to codify its capital, liquidity and source-of-strength requirements for industrial loan company parent companies.

McWilliams touts "continuous engagement" oversight approach

Dec 14, 2020 | NewsWatch Today
More regular and informal meetings between banks and regulators to discuss operations and emerging risks could reduce the need for cumbersome quarterly reporting, FDIC Chairman Jelena McWilliams said.

Time running out on stimulus grassroots

Dec 11, 2020 | NewsWatch Today
With Congress running out of time to pass a stimulus package by year-end, ICBA is calling on community bankers to reach out to their lawmakers and enlist small-business customers on outstanding priorities.

CFPB finalizes QM reforms

Dec 11, 2020 | NewsWatch Today
The Consumer Financial Protection Bureau finalized rules addressing the pending expiration of the "GSE Patch," which exempts Fannie Mae and Freddie Mac mortgage loans from parts of the bureau's Qualified Mortgage rule.

Senate vote on 'beneficial owner' reform as soon as today

Dec 11, 2020 | NewsWatch Today
The Senate is expected to vote as soon as today on a compromise defense spending bill that includes a key step toward ICBA-advocated relief from "beneficial ownership" disclosure mandates.

Grassroots urgent as stimulus talks heat up

Dec 10, 2020 | NewsWatch Today
As congressional negotiations over an economic stimulus package heat up, ICBA continues calling on community bankers to urge their lawmakers to include ICBA-advocated provisions.

SBA issues FAQ on PPP questionnaires

Dec 10, 2020 | NewsWatch Today
The SBA updated its Paycheck Protection Program frequently asked questions with guidance on why some PPP borrowers are receiving a loan necessity questionnaire.

'Beneficial owner' reform passes House

Dec 9, 2020 | NewsWatch Today
The House voted 335-78 to pass a compromise defense spending bill that includes a key step toward ICBA-advocated relief from "beneficial ownership" disclosure mandates.

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.