SBA: Administrator Loeffler Applauds Signature of Investing in All of America Act to Strengthen the SBIC Program
H.R. 2066 strengthens the SBIC program, expanding access to capital for rural communities and critical industries Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration(SBA), applauded President Donald J. Trump for signing H.R. 2066, the Investing in All of America Act, into law. The legislation, which was sponsored by U.S. House Small Business and Entrepreneurship Committee Member…
ICBA: ICBA Urges OCC to Rescind Approval for Coinbase’s National Trust Charter Following Criminal Lawsuit
The Independent Community Bankers of America (ICBA) today called on the Office of the Comptroller of the Currency to rescind or suspend its conditional approval of Coinbase Global’s application for a national trust bank charter until criminal allegations against Coinbase’s wholly owned subsidiary, Coinbase Financial Markets Inc., are resolved. This follows the New York State Attorney General’s…
ICBA: ICBA Applauds House Passage of Bipartisan Housing Bill
The Independent Community Bankers of America (ICBA) applauded the House of Representatives for today’s bipartisan passage of its amended housing relief bill, which includes several ICBA-advocated community bank regulatory reforms and promotes housing affordability. “ICBA and the nation’s community banks strongly support bipartisan House passage of the amended housing bill, which includes pro-community bank regulatory…
HUD: Agency Announces Regulatory Best Practices to Unleash Building and Increase Homeownership Across America
Deregulate Homebuilding by Reducing Costs, Unlocking Land, and Accelerating Timelines The Department of Housing and Urban Development (HUD) announced the State and Local Best Practices for Home Construction Report, a series of regulatory actions for state and local governments to increase efficiency and ease regulatory barriers to housing construction and affordability. “HUD is encouraging our state…
ICBA: Statement Issued on Executive Order on Financial Technology Regulation
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey released the following statement on President Donald Trump’s executive order directing the Federal Reserve to evaluate the legal, regulatory, and policy frameworks governing access to Reserve Bank payment accounts and payment services by uninsured depository institutions and non-bank financial companies. “Policymakers must recognize the…
ICBA: Statement Issued on Executive Order on the Integrity of the U.S. Financial System
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s executive order on the integrity of the U.S. financial system. “Today’s executive order recognizes the rigorous know-your-customer and due diligence requirements that community banks meet under the Bank Secrecy Act. As ICBA has repeatedly said in meetings with…
ABA: Statement Issued on New Banking-Related Executive Orders
ABA issued the following statement from ABA President and CEO Rob Nichols after the White House released two executive orders related to the banking sector: “ABA has long believed that any player in the financial services marketplace looking to offer bank-like services should be required to meet the same rigorous regulatory and consumer protection requirements….
FEMA: DHS Makes $648 Million Available to Help Firefighters and First Responders Nationwide
FEMA today announced $648 million in three funding opportunities to help firefighters and other first responders stay safe while protecting lives and communities nationwide. Through these three funding opportunities, FEMA is empowering fire stations and other first responder organizations to get the equipment, staff and support they need. “When a disaster strikes, firefighters and other first…
SBA: Cumulative 7(a) and 504 Loan Limit Doubled to $10 Million
Effective July 4, eligible borrowers can access record levels of SBA-backed funding Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), announced a new rule that will allow eligible borrowers to combine their 7(a) and 504 loans for up to $10 million in SBA-backed financing, increasing the cumulative loan limit from its current $5 million…
OCC: Agency Advances Priority of Reducing Regulatory Burden for Community Banks
The Office of the Comptroller of the Currency (OCC) continues to prioritize supervisory and regulatory reforms to reduce burden for community banks and support their role as drivers of economic growth. Most community banks are well capitalized and well managed, conduct business in a safe and sound manner, and engage in low-risk activities. The OCC…