NewsWatch Today

The Consumer Financial Protection Bureau issued a final rule on small-dollar lending that rescinds the mandatory underwriting provisions of the 2017 rule but keeps its payments provisions.

ICBA continues calling on community bankers to urge their senators to co-sponsor legislation to close the industrial loan company loophole.

The Consumer Financial Protection Bureau ratified most regulatory actions it took from Jan. 4, 2012, through June 30, 2020. The CFPB said the move provides the financial marketplace with certainty that the rules are valid following last week's Supreme Court ruling that the bureau's single-director governance structure is unconstitutional.

ICBA this week released talking points and a sample letter to PPP borrowers about the SBA and Treasury Department release of information about individual Paycheck Protection Program loans.

The IRS cancelled outstanding Economic Impact Payment checks issued to recipients who may not be eligible for the stimulus payments, including those who might be deceased.

Following the SBA and Treasury Department release of information about individual Paycheck Protection Program loans, ICBA released talking points and a sample letter to PPP borrowers about the agency announcement.

ICBA is calling on community bankers to urge their senators to co-sponsor legislation to close the industrial loan company loophole.

ICBA thanked Sens. Angus King (I-Maine) and John Kennedy (R-La.) for introducing legislation to establish a free online calculator to complete Paycheck Protection Program loan-forgiveness forms.

The Consumer Financial Protection Bureau posted frequently asked questions about prioritized assessments, a new supervisory approach the bureau developed in response to the COVID-19 pandemic.

The House Appropriations Agriculture Subcommittee adopted fiscal 2021 agriculture and rural development legislation.

ICBA said community banks will continue working to meet the needs of their communities after Congress passed and President Trump signed a law extending the Paycheck Protection Program application deadline.

ICBA's Paul Merski discussed the benefits of community banks to small businesses and local communities in a new podcast interview.