ICBA

The Independent Community Bankers of America accused the National Credit Union Administration of using the coronavirus to usher in additional changes without the normal amount of scrutiny.

The central bank said customers will be able to make more transfers and withdrawals "at a time when financial events associated with the coronavirus pandemic have made such access more urgent."

A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program.

Sen. Marco Rubio, R-Fla., said that $349 billion will likely not be enough meet loan demand from small businesses seeking a lifeline to help them weather the economic downturn brought on by the coronavirus outbreak.

The regulator formally announced the 60-day delay on Monday after tweeting about it over the weekend.

The OCC and FDIC’s proposal for modernizing the community reinvestment law would give banks below $500 million of assets the option to keep the current regime. But bankers and industry representatives say that threshold should be higher.

Noah Wilcox, a fourth-generation banker, says community banks are well positioned to provide stability and capital in underserved markets during uncertain times.

The outbreak and a free fall of oil and stock prices are rattling bankers at this year's ICBA gathering in Orlando, Fla.

The banking group issued lawmakers a guide on questions to ask as credit union executives visit Capitol Hill for two days.

ICBA outlined a series of questions for lawmakers that would force credit unions to defend the industry's practices during meetings with local representatives.

Despite what one critic says, Alaska USA Federal Credit Union’s acquisition of branches from TCF Financial will help underserved communities in Arizona.

The industry faces still competition for attention in Washington this week, but matters related to credit unions are still being discussed.

The head of the small-bank trade group called for hearings to discuss tougher limits on credit union acquisitions of banks.

A letter from the Independent Community Bankers of America calls on lawmakers to curtail credit unions' bank-buying spree or at least take measures to ensure parity between the two sides.

Two major banking organizations objected to a proposal by the agency that would expand the pool of investors in subordinated debt issued by credit unions. They fear it could provide credit unions more financing to buy banks.

There are no provisions in a new NCUA plan that outright bar credit unions from leveraging subordinated debt to acquire a bank. The long-awaited rule on bank purchases, also released Thursday, merely clarifies existing regulations rather than adding new components.

New legislation in Congress seeks to do away with a data-collection mandate that addressed discrimination in business lending. The repeal measure has the support of two bank industry groups based in Washington.

Credit unions bought banks at a record pace in 2019, but just a decade ago it had never been done before. Gary Easterling helped change that.

The community bank lobby has said the recent deals are another reason to rein in the credit union sector. Some House members are beginning to take notice.

An appeals court on Thursday denied bank groups an en banc hearing from all 11 appellate judges, but bankers said Friday that they're considering taking the case to the Supreme Court.