Advocacy News

IBA E-News 7-30-21 FEDERAL GOVERNMENT RELATIONS SBA Issues Guidance on Direct PPP Loan Forgiveness The Small Business Administration on Wednesday released guidance on how it will accept Paycheck Protection Program loan forgiveness applications directly from borrowers – bypassing the lending institutions – for loans of $150,000 or below. The direct borrower forgiveness process is an “optional technology solution that SBA is providing to PPP lenders that will leverage SBA’s existing and proven platform,” SBA reported. PPP lenders that opt-in to the direct borrower forgiveness program will be provided...
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IBA E-News 7-23-21 FEDERAL GOVERNMENT RELATIONS IBA Brings First Advocacy Group to Washington This week over 50 IBA members joined together for the IBA Annual Washington Trip, becoming the first state banking association group to venture out to our nation’s capital for grassroots advocacy since the COVID-19 pandemic began. The trip began with briefings from the American Bankers Association and Independent Community Bankers of America to prepare members to better engage with regulators and legislators during the remainder of the trip. Attendees then received updates and conversed with representatives from...
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IBA E-News 7-16-21 FEDERAL GOVERNMENT RELATIONS Biden Order Calls for Movement on Data Access Rule, Review of M&A Rules President Biden last Friday issued a wide-ranging executive order on competition issues across the U.S. economy. Among provisions related to the financial services industry, the order calls on the Consumer Financial Protection Bureau to complete its implementation of Section 1033 of the Dodd-Frank Act and to enforce the prohibition on unfair, deceptive or abusive acts and practices consistently with Section 1031 of Dodd-Frank.   The order also calls for the Department of Justice...
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IBA E-News 7-9-21 FEDERAL GOVERNMENT RELATIONS FFIEC Releases Call Report Supplemental Instructions The Federal Financial Institutions Examination Council released Call Report supplemental instructions that include reporting changes that went into effect for the June 30, 2021, report date. The changes—which were proposed last December—will allow the FDIC to implement recently proposed amendments to address the temporary deposit insurance assessment effects resulting from the CECL transition. The completed Call Report must be received by July 30, 2021, in accordance with the filing requirements. Read...
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