NewsWatch Today

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.

The FBI said federal charges against three computer programmers linked to the North Korean government illustrate the appeal of cryptocurrency markets and exchanges for theft and fraud.

ICBA thanked policymakers for introducing The PPP Extension Act of 2021, which pushes the application deadline until May 31 and creates a second deadline of June 30 for the Small Business Administration to clear the thousands of Paycheck Protection Program loan applications in process.

The Small Business Administration on Friday updated its frequently asked questions as well as its guidance concerning how to calculate revenue reduction and maximum loan amounts for first- and second-draw Paycheck Protection Program loans.

Federal regulators requested comments on 24 proposed interagency questions and answers regarding private flood insurance.

The Consumer Financial Protection Bureau said it is rescinding its January 2020 “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”

The IRS said it will begin distributing the third round of Economic Impact Payments today, with an effective entry date of this Wednesday, March 17.

ICBA released a summary of the $1.9 trillion American Rescue Plan Act (H.R. 1319), which Congress passed and President Joe Biden is expected to sign into law soon.