NewsWatch Today

The Federal Reserve Bank of Boston has provided additional guidance related to the Fed’s Main Street Lending Program for potential borrowers and lenders.

The Small Business Administration and the Treasury Department announced plans to set aside $10 billion of round two of Paycheck Protection Program funding for Community Development Financial Institutions.

ICBA and 43 state banking associations wrote to Congress seeking more workable forgiveness loan terms under the Small Business Administration’s Paycheck Protection Program.

The FDIC extended the public comment period for its proposed rule regarding industrial banks and industrial loan companies to July 1, 2020.

ICBA commended the FDIC’s proposal to partially mitigate the effects of participating in the Paycheck Protection Program and other emergency programs on deposit-insurance assessments, while calling for additional relief measures.

The Small Business Administration sent out a notice reminding lenders that loans marked with a “research” status in their Paycheck Protection Program portfolios should be reviewed for accuracy and completeness, by 8 p.m. (Eastern time) Thursday, May 28.

The SBA issued an interim final rule with answers to questions on Paycheck Protection Program loan increases and disbursements as well as 1502 reporting.

ICBA's ongoing push for policymakers to provide guidance on Paycheck Protection Program loan forgiveness made headlines in the Financial Times, American Banker, Forbes, Banking Dive, and more.

National Credit Union Administration Chairman Rodney Hood testified on his agency's recent announcement that it is changing its methodology for designating low-income credit unions.

The FDIC approved a proposed rule to mitigate the effects of participating in the Paycheck Protection Program and other emergency programs on deposit-insurance assessments.

Security breaches involving cloud computing services highlight the importance of sound security controls and management’s understanding of the shared responsibilities between cloud service providers and their financial institution clients, federal regulators said.