NewsWatch Today

The National Credit Union Administration finalized its embattled field-of-membership rule significantly expanding the service areas in which community credit unions can do business.

ICBA Reinsurance, the captive reinsurance company of the Independent Community Bankers of America, today announced that William Loving, president and CEO of Pendleton Community Bank Inc. in Franklin, West Virginia, was elected to the ICBA Reinsurance board of directors.

ICBA and other groups urged Congress to impose a three-year moratorium on industrial loan company licensing applications.

ICBA thanked Rep. Chrissy Houlahan (D-Pa.) for introducing the House version of ICBA-advocated legislation to forgive Paycheck Protection Program loans under $150,000.

ICBA and other groups expressed opposition to the OCC's recent discussions to offer a narrowly focused payments charter.

Consumer Financial Protection Bureau Director Kathleen Kraninger encouraged public input on the bureau's request for information on the regulatory environment.

Senate Republicans released initial proposals for the next round of stimulus legislation that include several ICBA-advocated provisions, though ICBA will continue working with lawmakers to craft the legislation.

Congress should pass pending legislation to close the industrial loan company loophole, ICBA President and CEO Rebeca Romero Rainey wrote in an op-ed on Medium.

The Consumer Financial Protection Bureau is conducting a survey of institutions offering small-business credit products to determine potential one-time costs associated with complying with Section 1071 of the Dodd Frank Act.

The SBA's release of Paycheck Protection Program loan data confirms that community banks have led the way in supporting the economic recovery in local communities.

July 31 is the second-quarter deadline to report the Employee Retention Tax Credit to the IRS on Form 941s.

ICBA congratulates the new members of the FDIC Advisory Committee on Community Banking, which provides advice and recommendations to the agency.