Advocacy News

IBA COVID-19 Updates 6-2-20 COVID-19 UPDATES PPP Loans Total $510B as of May 30 A total of 4.48 million Paycheck Protection Program loans have been made to small businesses over two rounds of funding, totaling over $510 billion as of May 30, the Small Business Administration reported yesterday. Banks with less than $10 billion in assets made 44% of all PPP loans to date. Banks between $10 and $50 billion made 20% of all PPP loans, while banks over $50 billion accounted for 37%. The overall average loan size was $114,000.  In Indiana, 74,045 PPP loans were made, totaling $9,359,675,711. Read the report...
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IBA E-News 5-29-20 COVID-19 UPDATES / GOVERNMENT RELATIONS Virtual Advocacy to Replace Regional Meetings The 2020 IBA Regional Meetings originally scheduled this summer have been canceled due to the COVID-19 pandemic. Grassroots advocacy will continue, however, through the newly formatted IBA Annual Washington Trip to be held virtually throughout the summer. Bankers are encouraged to participate in this important advocacy outreach; details forthcoming. For more information, contact Josh Myers. House Passes PPP Reform Bill The House voted 417-1 to pass legislation to ease restrictions on the...
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IBA COVID-19 Updates 5-26-20 COVID-19 UPDATES SBA Issues New Guidance on PPP Lending The Small Business Administration issued two interim final rules on Paycheck Protection Program requirements. One interim final rule focuses on loan review procedures and related borrower and lender responsibilities, such as:     •  SBA reviews of individual PPP loans.     •  Borrower representations and statements that SBA will review.     •  What lenders should review.     •  The timeline for lender decisions on loan forgiveness applications....
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IBA E-News 5-22-20 COVID-19 UPDATES / GOVERNMENT RELATIONS 2020 IBA Annual Washington Trip Transitions to Virtual Format The in-person 2020 IBA Annual Washington trip scheduled for July 26-28 has been canceled due to the COVID-19 pandemic. However, the need for high-level advocacy continues. We are pleased to announce that we will transition to a virtual format for the 2020 IBA Annual Washington Visit. The IBA will be organizing virtual meetings with regulators and legislators to be held throughout the summer. We will notify members of the meeting details as soon as they become available, and...
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