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News Archive for Aug 2020



SBA Releases New PPP Forgiveness FAQs, Lending Data

Posted on: 8/5/2020
The SBA a new set of frequently asked questions regarding the forgiveness of PPP loans. The document ...
 

FFIEC Addresses Treatment of Borrowers Nearing End of COVID-19 Accommodations

Posted on: 8/5/2020
With many COVID-19-related accommodations for loans nearing their initial expiration dates, the Federal ...
 

FinCEN Issues FAQs on Customer Due Diligence

Posted on: 8/5/2020
The Financial Crimes Enforcement Network has published three frequently asked questions regarding customer ...
 

FinCEN Warns of COVID-19-Related Cyber Fraud

Posted on: 8/5/2020
The Financial Crimes Enforcement Network issued an advisory alerting financial institutions to several ...
 

CFPB Publishes FAQs on Small-Dollar Loan Rule

Posted on: 8/12/2020
The CFPB has issued answers to several frequently asked questions related to its small-dollar loan rule. ...
 

NDBA, State Banking Associations Urge Congress to Modernize E-Sign Law

Posted on: 8/12/2020
NDBA joined 50 state banking associations on a letter last week asking Senate leaders to include a bill, ...
 

ARRC Releases SOFR ‘Starter Kit’

Posted on: 8/12/2020
As part of its ongoing work to facilitate the transition by financial market participants away from ...
 

Fed Announces Details of FedNow Service

Posted on: 8/12/2020
The Federal Reserve has released more details about its forthcoming FedNow service to provide real-time ...
 

$5M Left to Remit in FDIC Community Bank Assessment Credits

Posted on: 8/12/2020
According to the FDIC, 190 community banks still have a collective $5 million left in assessment credits. ...
 

Small Businesses Targeted through Spoofed SBA COVID-19 Relief Website

Posted on: 8/13/2020
The Cybersecurity and Infrastructure Security Agency issued an alert yesterday regarding an unknown ...
 

UMACHA & The Federal Reserve Bank of Minneapolis present NP 2020 Live

Posted on: 8/19/2020
UMACHA and the Federal Reserve of Minneapolis are presenting Navigating Payments conference this year ...
 

Graduate School of Banking at Colorado to Hold PPP Relationship Webinar

Posted on: 8/19/2020
In the business development process, there is a natural building of rapport and credibility prior to ...
 

CFPB Proposes New Qualified Mortgage Category

Posted on: 8/19/2020
The Consumer Financial Protection Bureau has proposed to create a new category of “seasoned” ...
 

New Survey Highlights Americans’ Desire for Financial Education

Posted on: 8/19/2020
In a recent Charles Schwab survey, Americans flagged money management as the most important skill for ...
 

ARRC Releases Libor Transition Guides for ARMs, Student Loans

Posted on: 8/19/2020
The Alternative Reference Rates Committee yesterday released reference rate transition guides for adjustable-rate ...
 

FDIC to Host Webinars on Calculating Deposit Insurance Coverage

Posted on: 8/19/2020
The FDIC will hold four free webinars for bank employees and officers on how to calculate deposit insurance ...
 

PPP Forgiveness Update:

Posted on: 8/24/2020
There is still no news regarding a simplified forgiveness process for PPP loans.     The ...
 

Agencies to Host PPP Loan Forgiveness Webinar

Posted on: 8/24/2020
The federal financial regulatory agencies and the Conference of State Bank Supervisors will host a joint ...
 

ND Supreme Court Order Removes Measure 3 from Ballot

Posted on: 8/26/2020
After oral arguments last week, the North Dakota Supreme Court has issued a unanimous decision enjoining ...
 

FHFA Delaying GSE fee until Dec 1

Posted on: 8/26/2020
The Federal Housing Finance Agency yesterday delayed a 50-basis point fee it had planned to start imposing ...
 

Bank Profits Fall amid Ongoing Pandemic; Community Bank Income Grows

Posted on: 8/26/2020
FDIC-insured banks and savings institutions earned $18.8 billion in the second quarter of 2020, a 70% ...
 

FDIC Proposes Significant Changes to Supervisory Appeals Process

Posted on: 8/26/2020
The FDIC is proposing to establish a new Office of Supervisory Appeals that would replace the current ...
 

CFPB Releases 2021 HMDA Filing Instructions Guide

Posted on: 8/26/2020
The CFPB has released its 2021 filing instructions guide for required data under the Home Mortgage Disclosure ...
 

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