Many small businesses have switched from large banks to community banks amid the COVID-19 pandemic because of their successful implementation of the Paycheck Protection Program, The Wall Street Journal reported.
Federal regulators released risk management and consumer protection principles for financial institutions to consider while working with borrowers as initial coronavirus-related loan accommodation periods come to an end.
ICBA filed a friend-of-the-court brief supporting the New York Department of Financial Services lawsuit challenging the Office of the Comptroller of the Currency's special-purpose national bank charter for fintech companies.
ICBA and other groups expressed strong support for the House version of ICBA-advocated legislation to forgive Paycheck Protection Program loans under $150,000.
ICBA said it supports how the Consumer Financial Protection Bureau structured its notice of proposed rulemaking on disclosures for collecting time-barred debt, or old debt that is no longer legally collectible.
The Federal Housing Finance Agency extended a temporary policy that allows for the purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria.
ICBA continued pushing back against a pending amendment to a 2021 spending bill that would fund a postal banking pilot program at the U.S. Postal Service.
ICBA continues calling on community bankers to use its Be Heard grassroots action center to urge Congress to advance ICBA's specific recommendations in the next stimulus package
