NewsWatch Today

The House Financial Services Committee this week advanced key ICBA-supported LIBOR and de novo bills.

The SBA issued an interim final rule designed to speed up the forgiveness process for Paycheck Protection Program loans of $150,000 or less.

The Consumer Financial Protection Bureau released an online tool to help renters and landlords affected by the pandemic find and apply for payment assistance for rent, utilities, and other expenses.

ICBA and a broad coalition of business groups expressed strong opposition to a proposal that would require financial institutions to report information on customer bank accounts to the IRS.

Securities and Exchange Commission Chair Gary Gensler said securities regulations apply to platforms that offer crypto tokens or other products that are priced off the value of securities and operate like derivatives.

Nacha launched an opt-in program to facilitate the return and recovery of potentially fraudulent unemployment benefits originally paid by ACH credits.

ICBA and other organizations called on Senate infrastructure negotiators to refrain from using Fannie Mae and Freddie Mac guarantee fees as a source of funding.

The OCC said it will propose rescinding its May 2020 Community Reinvestment Act rule and work with other agencies on a joint rulemaking.

A lawsuit on the Consumer Financial Protection Bureau’s implementation of small-business data collection and reporting rules determined that the bureau will issue a proposed rulemaking by Sept. 30, 2021, according to the Ballard Spahr law firm.

ICBA welcomed the Federal Housing Finance Agency’s announcement that it will eliminate an ICBA-opposed fee on refinance loans delivered to the government-sponsored enterprises.

The Consumer Financial Protection Bureau recently published a blog post for consumers on buy-now-pay-later credit.

ICBA is forming BankTech Ventures, an investment fund designed to accelerate technology opportunities and adoption at community banks.