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Blog discusses intersection between fintech and regulation

Aug 13, 2020 | NewsWatch Today
Unless you have been living on a desert island for the past few years, you would be hard-pressed to miss the technological revolution that is sweeping our nation’s financial system and the larger global economy, ICBA’s Chris Cole and Charles Potts write in a new blog post.

Kennedy to FDIC: Stop companies from taking advantage of ILC loophole

Aug 13, 2020 | NewsWatch Today
Sen. John Kennedy (R-La.) wrote to FDIC Chairman Jelena McWilliams urging her not to allow industrial loan companies to exploit a loophole in the Bank Holding Company Act during the coronavirus pandemic.

CISA issues alert on SBA COVID-19 relief website attack

Aug 13, 2020 | NewsWatch Today
The Cybersecurity and Infrastructure Security Agency issued an alert concerning an unknown malicious cyber actor spoofing the Small Business Administration's COVID-19 relief webpage via phishing emails.

SBA issues interim final rule on loan review, updates FAQs

Aug 12, 2020 | NewsWatch Today
The SBA released an interim final rule on appeals of SBA loan review decisions under the Paycheck Protection Program that outlines the process for borrowers to appeal adverse SBA decisions.

ICBA seeks extension on ECOA RFI deadline

Aug 12, 2020 | NewsWatch Today
ICBA joined other groups urging the Consumer Financial Protection Bureau not to rush potential changes to the Equal Credit Opportunity Act.

HUD sets aside funding to help low-income households amid COVID-19

Aug 12, 2020 | NewsWatch Today
The Department of Housing and Urban Development announced $472 million in CARES Act funding to help low-income families during the coronavirus pandemic.

Smaller lenders lead on PPP: SBA data

Aug 12, 2020 | NewsWatch Today
Lenders under $10 billion in assets have made some 2.74 million Paycheck Protection Program loans worth more than $233 billion through both rounds of funding, the SBA reported.

ICBA’s Romero Rainey to policymakers: streamline PPP forgiveness process

Aug 11, 2020 | NewsWatch Today
Policymakers need to simplify the onerous forgiveness process for small businesses to ensure the Paycheck Protection Program fulfills its purpose to support the nation’s top job creators, ICBA President and CEO Rebeca Romero Rainey writes in a new op-ed in The Hill.

ICBA to CFPB: extend GSE patch

Aug 11, 2020 | NewsWatch Today
ICBA filed a comment letter urging the Consumer Financial Protection Bureau to extend its policy exempting Fannie Mae and Freddie Mac mortgage loans from the bureau’s Qualified Mortgage rule to January 2022 or one year from the finalization of any proposed rule.

ICBA payments brief focuses on small biz

Aug 11, 2020 | NewsWatch Today
ICBA's latest Payments Executive Brief focuses on how community banks can use payments to take advantage of small-business opportunities.

OCC reduces assessments due to COVID-19

Aug 11, 2020 | NewsWatch Today
The OCC is reducing assessments due to the OCC on Sept. 30, 2020, because of the COVID-19 emergency.

PPP forgiveness platform now live

Aug 10, 2020 | NewsWatch Today
The Small Business Administration's Paycheck Protection Program forgiveness platform is live and scheduled to begin accepting loan-forgiveness applications and decisions today.