NewsWatch Today

With the Senate scheduled to vote today on a stimulus package that includes ICBA-advocated PPP forgiveness simplification, ICBA is calling on community bankers and their small-business contacts to weigh in on key PPP issues.

The Consumer Financial Protection Bureau extended the government-sponsored enterprise "patch," which exempts Fannie Mae and Freddie Mac mortgage loans from parts of the Qualified Mortgage rule.

ICBA is scheduled to host a complimentary Paycheck Protection Program webinar at 11:30 a.m. EST today. Staff experts will answer questions and discuss streamlined PPP forgiveness procedures, ICBA advocacy on PPP and EIDL advances, and more.

With the Senate bringing two separate measures that include PPP forgiveness simplification to a vote starting today, ICBA continues calling on community bankers and their small-business contacts to weigh in with lawmakers.

ICBA commended the FDIC for proposing to create an independent office within the agency to review material supervisory determinations.

The Federal Housing Finance Agency said Fannie Mae and Freddie Mac will extend from Oct. 31 to Nov. 30 the deadline on buying qualified loans in forbearance and several loan-origination flexibilities.

The OCC encouraged ICBA to take community bank concerns over the PPP's complex accounting arrangement to the Financial Accounting Standards Board.

ICBA continues its series of videos featuring small-business owners who successfully received PPP loans from community banks. The series on the updated banklocally.org features entrepreneurs whose local community banks worked around the clock to process their loans.

Information on Economic Injury Disaster Loan advances is now available on the Paycheck Protection Program Forgiveness Platform for submitted decisions, the SBA said in a letter to lenders with several updates on processing forgiveness payments.

ICBA called on Senate Majority Leader Mitch McConnell (R-Ky.) to include Paycheck Protection Program forgiveness simplification in pending stimulus legislation.

ICBA and other groups this week urged Congress to get involved in the OCC's efforts to grant commercial companies like Amazon or Facebook a national payments charter.

ICBA launched a series of videos featuring small-business owners who successfully received Paycheck Protection Program loans from community banks, often after megabanks proved unresponsive.