NewsWatch Today

The SBA Office of Advocacy expressed support for ICBA and state banking associations’ request that the Consumer Financial Protection Bureau extend the comment deadline on its proposal to implement Dodd-Frank Section 1071 collection and reporting requirements.

ICBA said it is largely supportive of proposed amendments to the Federal Housing Finance Agency’s final capital rule, though it cautioned the agency not to allow Fannie and Freddie to become overly reliant on credit risk transfers.

ICBA congratulated Federal Reserve Chairman Jerome Powell and Fed Governor Lael Brainard after President Joe Biden said he intends to nominate them for new terms at the agency.

Legislation to bar SBA direct lending under its 7(a) loan program was introduced amid an ICBA grassroots campaign opposing the policy.

ICBA told the SBA it should continue partnering with community banks rather than attempting to remove them from the loan origination process.

The House passed its version of the Build Back Better reconciliation bill without numerous ICBA-opposed provisions, including the IRS bank reporting proposal.

Federal Reserve officials discussed the potential need to speed up the tapering of asset purchases in response to rising job gains and inflation.

Community bank opposition to Saule Omarova’s nomination to lead the Office of the Comptroller of the Currency took center stage at a contentious Senate Banking Committee hearing.

Federal banking regulators approved a final rule designed to improve the sharing of information about cyber incidents that may affect the U.S. banking system.

ICBA published a summary of the Biden administration’s policy requiring employers with 100 or more employees to ensure their workers are fully vaccinated against COVID-19 or are tested weekly.

ICBA and state community banking groups expressed opposition to Cornell University law professor Saule Omarova’s nomination to lead the Office of the Comptroller of the Currency.

ICBA and other groups called on Congress to hold an oversight hearing on troubling National Credit Union Administration rulemaking activity.