NewsWatch Today

The Small Business Administration said there is approximately $5 billion remaining in Paycheck Protection Program funds set aside for certain community financial institutions.

ICBA continues to offer a customizable op-ed and updated talking points that community bankers can use to raise awareness of credit union acquisitions of community banks.

The FDIC requested comments within 60 days about insured depository institutions’ current and potential digital asset activities.

The Consumer Financial Protection Bureau issued additional frequently asked questions on its TILA-RESPA integrated disclosure rule.

ICBA released a customizable op-ed that community bankers can use to spread the word about the risks posed by proposals to establish taxpayer-funded public banks.

The Federal Reserve Board for the third time extended its rule allowing certain bank directors and shareholders to apply to their banks for Paycheck Protection Program loans for their small businesses.

ICBA's Mutual Council and America’s Mutual Banks urged the OCC to suspend the sale of Brainerd Savings and Loan Association assets to Wings Financial Credit Union until all freedom of information requests have been considered.

The Federal Reserve Board invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing).

The Alternative Reference Rates Committee last week published market indicators it will consider in recommending a forward-looking Secured Overnight Financing Rate term rate to support the transition away from LIBOR.

ICBA called on the Financial Crimes Enforcement Network to amend its customer due diligence rules and withdraw its requirement that banks collect beneficial ownership information.

ICBA and other groups told Congress they oppose legislative efforts to repeal the OCC’s “true lender” rule. The OCC rule, which ICBA supported in a comment letter last year, creates a standard to determine when a bank is the “true lender” when partnering with a third party.

ICBA and other groups this week called on the OCC to formally withdraw its Community Reinvestment Act rule or delay its January 2023 compliance date for at least two years.