Advocacy News

IBA COVID-19 Updates 7-21-20 COVID-19 UPDATES Congress Set to Consider CARES 2.0 Soon Discussions around a Coronavirus Aid, Relief, and Economic Security (CARES) Act 2.0 package are on track for consideration in Congress in the coming weeks. With Congress set to head back to their districts next month due to the August recess, topics like PPP loan forgiveness, more state and local aid funds, extension of unemployment benefits and additional stimulus money will be the focus of House and Senate leadership. SBA Planning PPP Loan-Forgiveness Portal The Small Business Administration will soon release a...
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IBA E-News 7-17-20 STATE GOVERNMENT RELATIONS Holcomb Continues to Delay Entry Into Final Reopening Stage Gov. Eric Holcomb announced on Wednesday that he is extending the already-delayed entry into the final phase of Indiana’s Back on Track reopening plan, Stage 5. He said he plans to continue with newly created Stage 4.5 that still requires certain restrictions on businesses and gatherings. The governor noted that the delay will extend at least through the end of July. Learn more about Stage 4.5     FEDERAL GOVERNMENT RELATIONS Action Alert: Ask the Senate to Simplify...
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IBA COVID-19 Updates 7-14-20 COVID-19 UPDATES SBA Provides Guidance on Monthly Form 1502 Filings; First Report Due July 17 In a procedural notice last night, the Small Business Administration provided guidance on the monthly Form 1502 reports that lenders must file on unpaid or unforgiven Paycheck Protection Program loans. The report is due on the 15th of each month or on the next business day after the 15th if it falls on a weekend or holiday. For this month only, SBA provided a two-day grace period, making the first monthly filing deadline Friday, July 17. Lenders should continue filing monthly...
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IBA E-News 7-10-20 COVID-19 UPDATES / GOVERNMENT RELATIONS DFI Releases Reference Documents for Updated Consumer Finance Laws The Indiana Department of Financial Institutions released the following documents on Tuesday regarding legislation impacting financial institutions that passed during the 2020 legislative session. Included are documents that outline significant changes to the Uniform Consumer Credit Code that will be noteworthy to all Indiana banks. 2020 General Assembly DFI Legislation of Interest (eff. July 2020) Advisory Letter 2020-01 SEA 395 Law Changes SEA 395 - Q&A...
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