NewsWatch Today

The October issue of Independent Banker magazine previews the 2020 election and what the potential outcomes mean for community banks.

ICBA continues urging community bankers to call their members of Congress and enlist the support of small-business contacts on behalf of PPP forgiveness legislation.

The Consumer Financial Protection Bureau issued a policy statement outlining the process of applying for early termination of administrative consent orders.

ICBA President and CEO Rebeca Romero Rainey urged community bankers to call their members of Congress and enlist the support of small-business contacts on behalf of PPP forgiveness legislation.

The FDIC told a group of House Republicans that it is exploring options to address the impact of Paycheck Protection Program loans on bank and bank holding company asset thresholds.

The SBA issued a notice on the required procedures for changes of ownership of Paycheck Protection Program borrowers.

The OCC issued a Small Bank Compliance Guide and other resources on its Community Reinvestment Act final rule, which took effect Oct. 1.

The IRS recently issued guidance clarifying that lenders should not file information returns or furnish payee statements to report the amount of qualifying forgiveness on PPP loans.

ICBA announced a collaboration with the Federal Reserve and Consumer Financial Protection Bureau to test certain community bank-inspired improvements to the TILA-RESPA Integrated Disclosure Rule.

The Federal Reserve relied on ICBA and community bank input in developing its recent advance notice of proposed rulemaking on modernizing Community Reinvestment Act regulations, Fed Governor Lael Brainard told ICBA community bankers.

ICBA encouraged the CFPB to expand on its proposal to create a new category of "seasoned" qualified mortgages.

Banks should expect examiners and the Financial Crimes Enforcement Network to ask about risk exposure related to virtual currencies, FinCEN Director Kenneth Blanco said.