NewsWatch Today

ICBA is scheduled to testify tomorrow before Congress on community development financial institutions and minority depository institutions.

The OCC finalized its rule clarifying that when banks sell or assign a loan, interest permissible prior to the transfer continues to be permissible afterward.

The FDIC issued the lists of institutions scheduled for Community Reinvestment Act examinations during the third and fourth quarter of 2020, as required by law.

ICBA is calling on community bankers to provide Congress with policy recommendations to make the Paycheck Protection Program more workable for lenders and borrowers.

The House voted 417-1 to pass legislation to ease restrictions on the Small Business Administration’s Paycheck Protection Program, as advocated for by ICBA.

The Federal Reserve Bank of Boston has provided additional guidance related to the Fed’s Main Street Lending Program for potential borrowers and lenders.

The Small Business Administration and the Treasury Department announced plans to set aside $10 billion of round two of Paycheck Protection Program funding for Community Development Financial Institutions.

ICBA and 43 state banking associations wrote to Congress seeking more workable forgiveness loan terms under the Small Business Administration’s Paycheck Protection Program.

The FDIC extended the public comment period for its proposed rule regarding industrial banks and industrial loan companies to July 1, 2020.

ICBA commended the FDIC’s proposal to partially mitigate the effects of participating in the Paycheck Protection Program and other emergency programs on deposit-insurance assessments, while calling for additional relief measures.

The Small Business Administration sent out a notice reminding lenders that loans marked with a “research” status in their Paycheck Protection Program portfolios should be reviewed for accuracy and completeness, by 8 p.m. (Eastern time) Thursday, May 28.

The SBA issued an interim final rule with answers to questions on Paycheck Protection Program loan increases and disbursements as well as 1502 reporting.