NewsWatch Today

The Treasury Department extended its program to invest in Minority Depository Institutions and Community Development Financial Institutions, as requested by ICBA.

The IRS said it is disbursing another 1.1 million Economic Impact Payments in the eighth batch under the American Rescue Plan.

The Paycheck Protection Program’s general fund was reportedly exhausted Tuesday ahead of the program’s May 31 authorization, though some PPP funds remain for certain loans and lenders.

The Consumer Financial Protection Bureau said more needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn.

While increasing financial inclusion and improving U.S. Postal Service financial stability are worthy goals, postal banking would accomplish neither, Pennsylvania Association of Community Bankers President and CEO Kevin L. Shivers wrote.

The May issue of Independent Banker magazine spotlights the best-performing community banks of 2020.

The SBA reportedly told congressional offices that general Paycheck Protection Program funding could be exhausted soon.

A recent column from Federal Reserve Gov. Michelle Bowman provides an update on regulatory efforts to promote community bank innovation and partnerships with fintech firms.

Financial institutions’ strong capital and liquidity positions have enabled the banking system to support the U.S. economic recovery, the Federal Reserve reported.

Today is the deadline to submit nominations and votes for ICBA’s updated National Community Bank Service Award program. This year’s awards recognize exceptional service, emerging service programs, and the people's choice.

While this week’s ICBA Capital Summit concludes today, ICBA is urging community bankers to continue engaging their elected officials with grassroots messages on social media.

ICBA’s Paul Merski told Bloomberg that additional IRS reporting being floated this week by the Biden administration would increase compliance burdens for community banks.