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ABA, Financial Trade Associations Oppose Repeal of OCC's ‘True Lender’ Rule (5/7/2021) 
AmBA and financial trade associations opposed the use of the Congressional Review Act to repeal the OCC's rule that established a test to determine when a bank is considered the “true lender.”
 
SBA Updates Guidance on PPP Whole Loan Sales (5/4/2021) 
The SBA extended its guidance on how lenders may sell whole Paycheck Protection Program loans.
 
UPDATED: PPP Funds Exhausted for All But CDFIs, MDIs (5/4/2021) 
The SBA has just informed trade associations that PPP funding has been exhausted.
 
AmBA Calls for Withdrawal of NCUA CUSO Proposal (4/29/2021) 
AmBA urged the NCUA to withdraw a proposed rule that would expand the range of permissible lending activity for credit union service organizations.
 
Study: Consumer Satisfaction with Banks Improves Amid Pandemic (4/28/2021) 
Despite the challenges of the COVID-19 pandemic, retail bank satisfaction improved four points year-over-year to 817.
 
AmBA Calls for Banker Feedback on Beneficial Ownership Database (4/28/2021) 
As FinCEN prepares to create a new beneficial ownership registry, AmBA is urging bankers to provide feedback on the procedures and standards FinCEN should incorporate.
 
Bankers Observe Teach Children to Save Day With Lessons on Saving (4/22/2021) 
Volunteer bankers will teach more than 70,000 students the fundamentals of financial literacy and the importance of saving for the unexpected as part of Teach Children to Save Day today.
 
SBA Updates Guidance on Deadlines for PPP Extension (4/21/2021) 
The SBA issued a procedural notice addressing PPP-related deadlines in the wake of the PPP Extension Act.
 
AmBA, Trade Groups Urge Senate to Pass Board Diversity Bill (4/21/2021) 
AmBA joined several other financial trade groups in urging the House Committee on Financial Services to advance H.R. 1277.
 
House Passes ABA-Backed SAFE Banking Act (4/20/2021) 
The House passed the SAFE Banking Act of 2021.
 
AmBA Urges Bankers: Oppose NCUA CUSO Proposal (4/20/2021) 
AmBA is calling on bankers to write to the NCUA to oppose a proposed rule that would expand the range of permissible lending activity for credit union service organizations.
 
CFPB Rescinds Several Temporary Pandemic Flexibilities (4/1/2021) 
The CFPB rescinded seven policy statements that provided temporary flexibilities for financial institutions when serving customers during the COVID-19 pandemic.
 
IRS Extends Contribution Due Dates for IRAs and HSAs to May 17 (3/30/2021) 
The IRS extended due dates for contributions to individual retirement arrangements, health savings accounts and other similar savings accounts to May 17.
 
ARRC Outlines Approach for Using SOFR in New Issuances of Securitized Products (3/30/2021) 
The ARRC outlined a model for using the Secured Overnight Financing Rate—the ARRC’s preferred Libor alternative—in asset-backed securities products.
 
SBA Outlines Process for PPP Lenders to Clear Hold Codes, Error Messages (3/30/2021) 
The SBA issued a second procedural notice with new instructions for lenders to clear error codes and move applications forward.