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SBA OCRM Advance Notice on PPP Oversight

SBA's Iowa District Office (the Office) has stated that an email from SBA’s Office of Credit Risk Management (OCRM) that was sent to PPP lenders providing advance notice of an upcoming oversight activity related to PPP. 

It is the Office's understanding that all lenders that participated in the PPP Program received/will receive this advance notice email. Please note that at this time you do not need to take any action. It is an advance notice only. It is a legitimate communication from SBA and the Office asks that when you do receive the request for information from OCRM in the coming weeks, that you respond to it accordingly. Click here to read the email notice.

SBA Creates Summary of Key Changes to Loan Programs

SBA’s Office of Capital Access has created a six-page summary of the key changes to SBA Loan Programs as a result of the new SOP 50 10 7. According to the Iowa District Office these are the most user-friendly documents so far comparing the key changes to programs. 

SBA Lender Roundtables continue

SBA’s Iowa District Office and America’s SBDC Iowa began hosting a series of Lender Roundtables in August. Next week they will conduct their three remaining Lender Roundtables:

1 • 1August 22nd in Carroll from 10 am–12:00 Noon at Western Iowa

 1 1 Networks.

1 • 1August 23rd in Davenport from 10 am–12:00 Noon at Eastern

 1 1 Iowa Community College Urban Campus.

1 • 1August 23rd in Hiawatha from 2:00 pm–4:00 pm at Kirkwood

 1 1 Community College, Linn County Regional Center.

Seating is limited for these events. RSVP to thomas.lentell@sba.gov and indicate which location session you wish to attend.

Dickinson Law Hosting Their 2023 Banking Law Seminar

Challenges persist in the banking world, from an uncertain economy highlighted by rising inflation and climbing interest rates. These challenges are also an opportunity to test uncharted waters by taking advantage of new technology and ways of doing business. It’s also more urgent than ever that banks find ways to meet needs efficiently and in ways that manage risk.

Join CBI Affiliate Member Dickinson Law on September 7 at the Hilton Rewind Hotel in West Des Moines for their 2023 Banking Law Seminar. Here they will Navigate the Future of Banking by focusing on the emerging issues in the banking industry. The full seminar runs from 8:30 am - 3:30 pm; a complimentary breakfast and lunch will be served.

Presentations include:

1•1Protecting Depositors from Themselves

1•1What to Do When an Employee Commits a

1 1Crime

1•1Banking Today - Do You Hear The

1 1Chattering of AI Ahead?

View the complete agenda here. Seats are limited, so register today. Contact Sarah Ruba at 515-246-4508 or sruba@dickinsonlaw.com with questions.

| 1REGISTER NOW 1|

Marketing Promotions and Communications to Launch this Fall

by CBI Member Onovative's Marketing Team

As summer winds down, it’s time to solidify your fall marketing plans. Brands often utilize warm colors when it comes to fall marketing and focus on time spent with family and friends in this pre-holiday season. Reminding account holders of the warmth that comes with autumn and showing them how your financial institution can support their lifestyle can allow you to build long lasting relationships with them through the fall and beyond. Fall is an ideal time to promote your various loan products as your account holders begin to make financial plans before the holiday season is in full swing. So, to help you get your planning and strategizing started, we are sharing three loan product campaign promotions to launch this fall as well as design templates to share on your social media channels to connect with your followers.

Product Promotions:

1. HELOC

As account holders get ready to tackle home improvement projects this fall and begin to plan for holiday spending and traveling, remind them that leveraging their home equity can be a smart way to borrow cash. Strategically develop fall specific communications to promote your Home Equity Line of Credit (HELOC) offers. Not only will a HELOC offer support the needs of your account holders, but also enable your financial institution to build deeper relationships and in turn meet your growth goals. Dive into the key components of a successful HELOC offer. We’ve created fall postcard and letter templates for you to brand and modify with your financial institutions’ HELOC offer details.

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FOMC July minutes released



The Federal Reserve on Wednesday released the minutes of the Federal Open Market Committee meeting held on July 25–26, 2023.

The minutes reveal that, although the vote to increase rates by 25 bases points was unanimous, there were unidentified members who indicated they would have left rates unchanged or would have supported a proposal to leave them unchanged.

On the subject of future rate increases, all agreed that will depend on the economic data available when the FOMC meets next in September. There was agreement that the committee needs to maintain a generally restrictive policy to bring inflation back down to the committee's 2 percent target.

CFPB updates filing instructions guide

for small business lending data

The CFPB has updated its Filing instructions guide for small business lending data collected in 2024 to reorder certain demographic information codes to better correlate with Home Mortgage Disclosure Act data, make minor wording clarifications to the pricing information data point, and make minor administrative updates to the validation IDs. 

CBI Member CSI: Constant Vigilance - The Importance of Continuous Cybersecurity Monitoring

EPCOR: AI Payment Scams - Protecting Accountholders from Fraud

FS-ISAC Weekly Risk Summary: 8/14/23

EPCOR: Mitigating ACH And Wire Fraud with New Receiver Alerts

Experian to pay $650,000 to settle CAN-SPAM Act charges

CFPB penalizes mortgage lender and real estate brokers for kickbacks

Q. Is a co-signer on a mortgage loan required to receive any disclosure specifically regarding their status as a co-signer?

A. The Cosigner Notice required under the former Reg AA is not specifically required by law anymore after the repeal of the regulation, but it's not uncommon for it to still be provided from a UDAP perspective under bank policy or procedure - for example:

"The Agencies note that the FTC’s Credit Practices Rule requires—and the former credit practices rules applicable to banks, savings associations, and Federal credit unions required—creditors to provide a “Notice to Cosigner” explaining the cosigner’s obligations and his or her liability if the borrower fails to pay. The Agencies believe that creditors have properly disclosed a cosigner’s liability if, prior to obligation, they continue to provide a “Notice to Cosigner. ” 

Federal Reserve Interagency Guidance Regarding Unfair or Deceptive Credit Practices - 8/22/2014

AROUND IOWA

Tie value of dollar to corn, beans, ag commodities, presidential candidate Vivek Ramaswamy says

Christina Bohannan launches a second bid against U.S. Rep. Mariannette Miller-Meeks

Principal survey finds businesses growing, while employees show less confidence

OPERATIONS/MARKETING

Are Non-Competes on the Ropes?

Consumers Crave Better Banking Service During Economic Uncertainty

What Does a Successful Influencer Marketing Strategy Look Like for Banking Brands?

Is Gen Z prepared for the workforce? Survey suggests maybe not

LENDING / INVESTMENTS

CBI Member Compliance Alliance: Lending Limits and Purchased Loans

What Does It Take to Attract Deposits with a Digital-Only Bank Brand?

Is the Average Consumer’s Debt Actually Shrinking?

3 ways banks can navigate the commercial real estate slump

DIRECTORS

5 opportunities for community banks in uncertain economy

Retail Banking Priorities Have Shifted in 2023

Studies show possible economic impact of AI

Why Banks Are Divesting Insurance Brokerages

AGRIBUSINESS

Ernie Goss: Rural Mainstreet Economy Slows in August

Farm bill timeline in flux as a messy September for Congress nears

Think through lease arrangements this harvest

TECH & PAYMENTS

Will FedNow and BNPL Dent Credit Card Use?

Modern Core Systems – It’s Time to Get a “Sidecar”

How Banks Are Tackling Fintech Partnerships & Managing Other Risks