In a letter to industry earlier this week, the New York Department of Financial Services confirmed that banks may receive credit under New York’s state-level Community Reinvestment Act for certain activities intended to address and mitigate the effects of climate change.
The American Bankers Association today strongly opposed a proposal by the National Credit Union Administration that would expand the definition of “service facility” and erase the distinction between service to select groups and service to underserved areas as delineated in the Federal Credit Union Act.
The American Bankers Association yesterday joined a broad coalition of housing and civil rights organizations in a letter urging lawmakers to include $25 billion in direct assistance to struggling homeowners in the next COVID-19 relief bill.
Since the start of the year to Feb. 7, the Small Business Administration has approved 1.3 million loans totaling $100.9 billion through its Paycheck Protection Program, according to new figures released today.
The Small Business Administration tonight issued an updated procedural notice regarding the reporting process through while lenders report on Paycheck Protection Program loans and collect processing fees.
ABA and a coalition of financial trade associations today voiced their support for allowing customers to access financial records and to share that data securely.
The Securities and Exchange Commission is seeking feedback on potential ways to improve the resilience of money market funds in the face of economic instability.
Federal Reserve Governor Michelle Bowman—who holds the seat on the Federal Reserve Board designated for an individual with community banking experience—will deliver keynote remarks during ABA’s Conference for Community Bankers, a virtual event taking place Feb. 16-17.
ABA joined more than 580 trade associations representing a broad range of industries in a letter yesterday urging members of Congress to include targeted and temporary liability protections as part of the next COVID-19 relief package.
Since the start of the year to Jan. 31, the Small Business Administration has approved nearly 900,000 loans totaling $72.7 billion through its Paycheck Protection Program, according to a report released yesterday.