NewsWatch Today

ICBA expressed support for newly reintroduced bipartisan legislation to establish a safe harbor for financial institutions that serve cannabis-related businesses in states where cannabis is legal.

ICBA-opposed legislation designed to expand credit union lending authority was introduced in the Senate.

The Cybersecurity and Infrastructure Security Agency released a forensics collection capability to help detect activity related to the supply chain compromises affecting SolarWinds and Active Directory/Microsoft 365.

Two new Nacha rules take effect today on Same Day ACH and account validation.

The Treasury Department and IRS said they disbursed roughly 90 million Economic Impact Payments this week.

ICBA expressed support for legislation to exempt from taxation interest income on farm real estate and rural mortgage loans.

ICBA is urging community bankers to use its Be Heard grassroots action center to urge their members of Congress to make needed changes to the Paycheck Protection Program if it is extended beyond March 31.

The House voted 415-3 to pass ICBA-supported legislation to extend the Paycheck Protection Program, though the Senate outlook remains unclear.

The first tranche of new Economic Impact Payments sent through the ACH Network is effective today. In a joint statement, ICBA and other financial services groups clarified that the March 17 payment date was chosen by the IRS—not the banking industry.

The current round of the Paycheck Protection Program is successfully reaching smaller borrowers, according to recent data from the SBA.

Farm banks are vital to U.S. agricultural producers and rural communities, holding 44 percent of bank-held agricultural loans despite holding just 2 percent of U.S. bank loans, according to a new FDIC report.

ICBA today is hosting a showcase of 2021 ICBA ThinkTECH Accelerator participants and their new technologies available to community banks.