Powell: Ameribor ‘Fully Appropriate’ for Banks When It Reflects Cost of Funding
While the Federal Reserve continues to support the Secured Overnight Financing Rate as the Alternative Reference Rates Committee’s preferred alternative...
Policy
OCC’s Brooks Warns Governors, Mayors on Risks to Banks of Long-Term ‘Lockdowns’
As governors and municipal officials make decisions on reopening local economies in the wake of the coronavirus pandemic, Acting Comptroller...
House Republicans Call for Streamlined PPP Forgiveness Application
A group of House Republicans—led by Reps. Andy Barr (R-Ky.) and French Hill (R-Ark.)—wrote to Treasury Secretary Steven Mnuchin and Small...
Acting Comptroller to Focus on Innovation, Fintech
Acting Comptroller of the Currency Brian Brooks will focus on promoting “responsible innovation” in the banking sector and continuing OCC...
OCC Issues Long-Awaited Final Rule Clarifying ‘Valid When Made’ Principle
The OCC issued a long-awaited final rule today affirming that permissible interest on a loan made by a national bank...
House Advances Bill Providing Flexibility for PPP Borrowers
As expected, the House today passed a bipartisan bill that would provide greater flexibility for Paycheck Protection Program borrowers.
State Associations Flag Concerns Over ‘Unnecessarily Burdensome’ PPP Forgiveness Application
Fifty-one state bankers associations today raised concerns that the forgiveness application for Paycheck Protection Program loans may be overly burdensome...
SBA, Treasury Allocate $10B of Round Two PPP Funds for CDFIs
To help ensure that Paycheck Protection Program funds reach all small businesses in need, the Small Business Administration and Treasury...
Trade Groups Call for Changes to FDIC Proposal to Enable Bank Participation in PPP, Money Market Facilities
A recent proposal by the FDIC to provide certainty to banks participating in the Paycheck Protection program and its associated...
OCC Rule Clarifies Virtual Meeting Options for National Banks, Federal Thrifts
To facilitate banks’ needs to hold meetings during the coronavirus pandemic, the OCC is issuing an interim final rule clarifying...
