ICBA: ICBA Strongly Supports Senate Bill to Close Industrial Loan Company Loophole
The Independent Community Bankers of America (ICBA) today expressed its strong support for bipartisan legislation to close the industrial loan company (ILC) loophole, which allows commercial companies to own full-service banks without full regulatory oversight. A loophole in the Bank Holding Company Act allows commercial and fintech companies to own or acquire ILCs chartered in…
SBA: New Regulatory Guidance Issued to Cut California Red Tape and Expedite Los Angeles Wildfire Rebuild
New rule allows builders to self-certify compliance, bypass permitting backlogs, and begin rebuilding Today, the U.S. Small Business Administration (SBA) published regulatory guidance pursuant to President Donald J. Trump’s Executive Order 14277, “Addressing State and Local Failures to Rebuild Los Angeles After Wildfire Disasters,” which will allow builders to self-certify compliance with substantive state and local rebuilding requirements when SBA disaster…
SBA: Over 1,000 8(a) Firms Suspended from Program Following December Document Request
Action is Latest in Sweeping Effort to Dismantle DEI, Expose Fraud, and Restore Integrity to Federal Contracting Today, the U.S. Small Business Administration (SBA) announced the suspension of 1,091 firms from the 8(a) Business Development Program – representing about 25% of all firms registered to participate in the federal government contracting program. The suspension comes after the…
SBA: Agency Ready to Act on President Trump’s Executive Order to Bypass Bureaucracy and Help California Residents Rebuild One Year After Wildfires
Executive action empowers SBA to cut through red tape that has stalled recovery for more than a year Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration(SBA), applauded President Donald J. Trump for signing a new executive order, “Addressing State and Local Failures to Rebuild Los Angeles After Wildfire Disasters,” which encourages the SBA to promulgate new regulations…
ABA: ABA & 52 State Bankers Associations Urge Congress to Reject Durbin-Marshall Credit Card Mandate
The American Bankers Association and 52 state bankers associations today expressed strong opposition to the Durbin-Marshall Credit Card Mandate, also known as the Credit Card Competition Act (CCCA), warning in a new joint letter to Congress that the proposal would harm consumers, small businesses and banks of all sizes. In the letter, the associations write that the…
ICBA: FDIC Approval of Ford, GM Industrial Loan Companies Threatens Banking System Stability
The Independent Community Bankers of America (ICBA) today expressed serious concern with the Federal Deposit Insurance Corp.’s approval of industrial loan company applications from Ford and General Motors, citing the systemic risk the ILC regulatory loophole poses to the banking system by allowing financial institutions to receive federal deposit insurance while avoiding full regulatory oversight….
SBA: Clarifying Guidance Issued that Race-Based Discrimination Is Not Tolerated in the 8(a) Program
Action is Latest in Year-Long Effort to Dismantle DEI Discrimination, Expose Fraud, and Restore Fairness in Federal Contracting Today, the U.S. Small Business Administration (SBA) issued formal guidance to SBA program officials reiterating, in alignment with policy changes implemented by Administrator Kelly Loeffler last year, that race-based discrimination within the 8(a) Business Development Program is unconstitutional and…
ABA: Banking and Credit Union Groups Urge Congress to Reject Durbin-Marshall Bill
The American Bankers Association, America’s Credit Unions, Association of Military Banks of America, Bank Policy Institute, Consumer Bankers Association, Defense Credit Union Council, Independent Community Bankers of America, Electronic Payments Coalition, Electronic Transactions Association, Mid-Size Bank Coalition of America and National Bankers Association, today sent a joint letter to members of Congress strongly opposing the so-called Credit…
SBA: 2025 Annual Report Released
Today, the U.S. Small Business Administration (SBA) published its 2025 Annual Report, highlighting the historic Year One results of the agency under the leadership of President Donald J. Trump and SBA Administrator Kelly Loeffler. The report documents the SBA’s return to its statutory mission of strengthening small businesses and driving economic growth, and a reversal in course following…
ABA: New Research Finds that Proposed 10% Credit Card Rate Cap Would Result in Up to 159 Million Americans Losing Access to Credit
New data from credit card issuers accounting for roughly 75% of the market shows that a proposed 10% federal credit card interest rate cap would significantly reduce access to credit for millions of consumers nationwide, and even those with good credit scores who pay their bills on time will be affected by the rate cap. The…