NewsWatch Today

ICBA told the Federal Reserve it is concerned the agency's Main Street Lending Program excludes small businesses because it has a minimum loan amount of $1 million.

ICBA updated its frequently asked questions on the federal response to the COVID-19 pandemic with information on Economic Impact Payments—the federal stimulus payments going out to eligible individuals and households.

Federal regulators said they will consider comments submitted before May 1 on their proposal to modify the Volcker rule’s general prohibition on banking entities investing in or sponsoring hedge funds or private equity funds. The previous deadline was April 1.

Nacha said it will not enforce signature and similar authentication requirements for receiving depository financial institutions until further notice.

The Federal Reserve said it will not take action against financial institutions with $5 billion or less in total assets for submitting certain financial statements within 30 days of the March 31 filing deadline.

The Senate is convening now to advance the economic stimulus package responding to the coronavirus outbreak. We at ICBA often say that our star shines brightest when we are in the midst of a challenge—just as community bankers do.

Federal and state banking regulators said Sunday that they will not direct supervised institutions to automatically categorize coronavirus-related loan modifications as troubled debt restructurings.

This week’s ICBA pushback against credit union advocacy meetings in Washington is making news.

Federal Reserve Gov. Michelle “Miki” Bowman said the declining presence of community banks in the consumer real estate mortgage market is a key challenge facing the housing sector.

With a proven track record of common-sense legislative achievements that benefit Main Street consumers, small businesses, farmers and ranchers, we remain committed to pragmatic legislative solutions that will build on recent successes and expand the reach of our nation's economic prosperity to every urban, suburban and rural community we serve.