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In-sites
An Information Resource Center
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To assist community banks in these uncertain times ACB has compiled this repository of current information from various sources regarding the status of the impact of the coronavirus on our industry. Click on the links below for the latest information from that particular source.
Be vigilant and be safe.
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Banks Feel Prepared for Uptick in Crisis Cash Withdrawals
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As the number of COVID-19 cases continues to rise throughout the U.S.,
 reports have emerged that some consumers are stockpiling cash ahead of potential lockdowns or shelter-in-place orders.
Both
The New York Times and
Bloomberg News reported a rise in customers withdrawing large amounts of cash, a common trend during crises, despite recent encouragement from the Federal Deposit Insurance Corp. to keep their money in a federally insured bank.
"It's just a natural thing people do in time of emergency such as this," said Bruce Renard, executive director of the National ATM Council, or NATMC, a trade association that represents ATM owners.
While banks report enough liquidity to support the demand, independently owned ATMs could struggle to keep up with the demands of their communities, Renard said in an interview.
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Senate Stimulus Plan Includes ICBA Policies
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While Congress and the Trump administration continue working to
 advance stimulus legislation responding to the coronavirus outbreak, the Senate's proposed legislation includes several ICBA-advocated measures.
The Senate plan includes ICBA-advocated proposals to:
- enhance the Small Business Administration's 7(a) loan program,
- advance net-operating-loss tax relief,
- increase the amount of interest expenses businesses may deduct on their tax returns,
- ensure robust FDIC deposit insurance coverage,
- delay implementation of the Current Expected Credit Losses accounting standard,
- provide temporary relief from troubled-debt-restructuring classifications, and
- reduce the Community Bank Leverage Ratio from 9 percent to 8 percent during the COVID-19 emergency.
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Increased CRA Points Considered for COVID-19 Related Loan
s
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Federal banking regulators are looking to offer banks additional
 regulatory points for lending to mid-to low-income consumers who have been impacted by the coronavirus pandemic, Reuters reports, citing an official within a banking agency. One of the plans being discussed is to offer regulatory credits to lenders through the Community Reinvestment Act. Additionally, regulators are also considering pushing banks to show customers leniency in the repayment of automobile and home loans.
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ILC Applications Approved
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For the first time in more than a decade, the Federal Deposit Insurance
 Corp. approved the industrial bank applications for deposit insurance for Square Inc. and Nelnet Inc. The decision comes after the FDIC on March 17 announced a notice of proposed regulation in order to codify the agency's prerequisites for industrial banks and their holding companies.
The agency is yet to take a decision on the industrial bank applications of AmeriNat Bank, Rakuten Inc., Interactive Brokers Group Inc. and GreatAmerica Bank.
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ACB Associate Member on 1
st AR Business Webinar
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PCA Technology Solutions President & CEO Ted Clouser will be the first
 featured guest on Insights, a new webinar series presented by Arkansas Business. PCA Technology Solutions is an ACB Associate Member.
Clouser's webinar and live Q&A will focus on "Why IT Needs a Seat at the Boardroom Table." The 30-minute webinar is scheduled for 10 a.m. March 31 and will cover topics ranging from the financial consequences of cybercrime and the steps business owners can take to protect their organizations and homes.
"We've got to remember that what we believed was secure yesterday, may very well not be secure tomorrow," Clouser explains. "This webinar will offer some insight into why taking cybersecurity seriously matters more than ever."
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Postponed Due Health Concerns -
Watch for Re-Schedule Details
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Compliance Conference - September 9 & 10, 2020
Management & Directors Conference - November 10, 2020
** Watch For Details **
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