The OCC, the Federal Reserve and the FDIC have adopted a final rule that codifies temporary changes to changes to the community bank leverage ratio and addresses the transition process for banks using the CBLR framework.
As policymakers consider reforms to the three-decade-old brokered deposit rules, they should “think about what the appropriate guardrails are to mitigate the challenges that the brokered deposit law was put into place to address,” and how best to apply those guardrails to a modern banking system, said Mary Fowler, CEO of Peoples Bank in an American Banker op-ed today.
Senior regulatory officials said they are considering ways to reduce burdens banks face when partnering with third-party service providers, including fintech firms.
The American Bankers Association Foundation invites entries for the 2020 Community Commitment Awards, which recognize and promote the essential role banks play in their communities—a role that has become even more apparent in recent days as banks nationwide have stepped up to provide economic assistance during the coronavirus pandemic.
As of 1 p.m. today, the Small Business Administration said it had approved more than 475,000 loan applications submitted by more than 5,100 lenders for a total of more than $52 billion.
With the SBA’s Paycheck Protection Program set to re-opening for applications tomorrow, a Maryland bank CEO this weekend recounted his bank’s experience getting up and running during the early days of the program.
A new article in the Washington Post yesterday spotlighted the round-the-clock efforts of community banks to make Paycheck Protection Program loans with a largely remote workforce.
In times of crisis, take proactive steps to observe, listen and advise to ensure your institution develops a positive, lasting reputation as a business bank.
As required by Section 4012 the CARES Act, the federal banking agencies today temporarily lowered the community bank leverage ratio, issuing two interim final rules to set the CLBR at 8% and then gradually re-establish it at 9%.
Compliance professionals are uniquely positioned to educate older Americans about the growing number of scams surrounding the pandemic.