NewsWatch Today

ICBA congratulated Janet Yellen on her nomination to serve as the next Treasury secretary. In a statement, ICBA President and CEO Rebeca Romero Rainey said Yellen understands the vital role of community banks as a former Federal Reserve chair.

The Consumer Financial Protection Bureau issued its final policy on advisory opinions, which are designed to provide guidance to entities on outstanding regulatory uncertainty.

Federal regulators issued a joint statement encouraging banks to cease entering into new contracts that use U.S. dollar LIBOR as a reference rate as soon as practicable and no later than Dec. 31, 2021, to facilitate the transition away from LIBOR.

The SBA issued to lenders a letter and instructions on the agency's "loan necessity" questionnaire for Paycheck Protection Program loans of $2 million or more.

ICBA is calling on community bankers to urge Congress to pass much-needed economic stimulus measures during the lame-duck session.

ICBA is reminding community bankers about the procedures for renewing or refinancing a line of credit for a borrower with an Economic Injury Disaster Loan.

ICBA has raised questions about an SBA "loan necessity" questionnaire for Paycheck Protection Program loans of $2 million or more that appears to go against the language of the CARES Act.

The OCC issued a proposed rule on Community Reinvestment Act general performance standards with a 60-day comment period.

The Federal Housing Finance Agency increased the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2021.

ICBA recently expressed strong support for House and Senate legislation that would restore forgiveness for Economic Injury Disaster Loan Advance recipients who also have a Paycheck Protection Program loan.

The Small Business Administration said it has forgiven 367,321 Paycheck Protection Program loans worth $38.4 billion as of noon Sunday.

The Consumer Financial Protection Bureau released an update to its Filing Instructions Guide for HMDA data collected in 2021 and reported in 2022.