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GAO urges agency collaboration re: alternative data use

Jun 2, 2021 | NewsWatch Today
The Government Accountability Office reissued its recommendation to the FDIC for enhanced collaboration with other financial regulators concerning the use of alternative data in credit underwriting.

PPP funding exhausted as loan application deadline passes

Jun 1, 2021 | NewsWatch Today
The Paycheck Protection Program closed to new loan applications more than a year and several iterations after the emergency program was enacted.

Fed proposes changes to intraday credit policy

Jun 1, 2021 | NewsWatch Today
The Federal Reserve Board requested public comment on proposed changes to its policy governing the provision of intraday credit, or daylight overdrafts, to healthy institutions with accounts at the Federal Reserve Banks.

Event on LIBOR transition next week

Jun 1, 2021 | NewsWatch Today
The Alternative Reference Rates Committee said it is holding an event next week on the impact of the transition from LIBOR to the Secured Overnight Financing Rate on the derivatives market.

Remove GSE product restrictions: ICBA, minority bank council

May 28, 2021 | NewsWatch Today
ICBA and its Minority Bank Advisory Council this week urged the Treasury Department and Federal Housing Finance Agency to reopen negotiations over the Preferred Stock Purchase Agreements for Fannie Mae and Freddie Mac.

ICBA updates data privacy guide

May 28, 2021 | NewsWatch Today
ICBA this week released an updated guide for community banks on data privacy laws and regulations. The guide is available here and in the Cyber and Data Security Mitigation section of ICBA’s Operational Risk resource center.

CFPB: Manufactured housing borrowers have higher interest rates

May 28, 2021 | NewsWatch Today
Roughly 42 percent of loans for manufactured homes are secured by “chattel” loans secured by the home but not the land, according to a report from CFPB.

ICBA releases new banklocally.org video

May 25, 2021 | NewsWatch Today
ICBA released its latest video in a series on how community banks have partnered with small businesses during the pandemic to help them navigate the Paycheck Protection Program.

ICBA urges House to oppose ‘true lender’ repeal

May 25, 2021 | NewsWatch Today
ICBA and other groups today are urging House members to oppose a Senate-passed resolution to repeal the OCC’s “true lender” rule.

Voting open for People's Choice Award videos

May 24, 2021 | NewsWatch Today
Community bankers can now vote on ICBA’s National Community Bank Service Awards People's Choice Award videos.

OCC finalizes rule on collective investment funds

May 24, 2021 | NewsWatch Today
The OCC finalized a rule applicable to national banks and federal savings associations administering a collective investment fund invested primarily in real estate or other assets that are not readily marketable.

USDA to begin paying off direct loans to minority farmers

May 24, 2021 | NewsWatch Today
The USDA announced the initial phase of plans to pay off USDA direct loans to socially disadvantaged (SDA) farmers and ranchers. It will subsequently announce its process for paying off guaranteed loans.