NewsWatch Today

The Federal Housing Finance Agency said Fannie Mae and Freddie Mac will extend from Oct. 31 to Nov. 30 the deadline on buying qualified loans in forbearance and several loan-origination flexibilities.

The OCC encouraged ICBA to take community bank concerns over the PPP's complex accounting arrangement to the Financial Accounting Standards Board.

ICBA continues its series of videos featuring small-business owners who successfully received PPP loans from community banks. The series on the updated banklocally.org features entrepreneurs whose local community banks worked around the clock to process their loans.

Information on Economic Injury Disaster Loan advances is now available on the Paycheck Protection Program Forgiveness Platform for submitted decisions, the SBA said in a letter to lenders with several updates on processing forgiveness payments.

ICBA called on Senate Majority Leader Mitch McConnell (R-Ky.) to include Paycheck Protection Program forgiveness simplification in pending stimulus legislation.

ICBA and other groups this week urged Congress to get involved in the OCC's efforts to grant commercial companies like Amazon or Facebook a national payments charter.

ICBA launched a series of videos featuring small-business owners who successfully received Paycheck Protection Program loans from community banks, often after megabanks proved unresponsive.

The SBA and Treasury Department released a simpler loan forgiveness application for Paycheck Protection Program loans of $50,000 or less to provide needed relief to lenders and borrowers.

ICBA expressed support for legislation to promote the creation of de novo community banks by phasing in capital standards over three years.

A new Main Street Matters post for community bank marketers covers Google's updated advertising policies taking effect later this month and how to navigate this sea change.

ICBA reiterated its support for provisions in new rules on a federal hemp production program that would not require suspicious activity reports from banks that finance hemp producers.

Federal banking regulators issued a final rule revising the definition of eligible retained income for institutions subject to the agencies' regulatory capital rule.