NBA Legislative Update - March 25
SBA Expands, Modifies Community Advantage Pilot Program
The Small Business Administration (SBA) announced the Community Advantage pilot program will be extended to Sept. 30, 2024. The program focuses on meeting the needs of small businesses in underserved markets. SBA will also end the moratorium on new lender participation, increase the maximum loan level and simplify requirements.
FDIC Seeks Public Input on Bank Mergers
The Federal Deposit Insurance Corporation (FDIC) released a request for information to gather input on bank mergers, including those between an insured and a non-insured institution.
Task Force Releases Appraisal and Valuation Equity Plan
The Interagency Task Force on Property Appraisal and Valuation Equity announced an action plan to address bias in the property appraisal process. The task force was created as part of President Biden’s Executive Order On Advancing Racial Equity and Support for Underserved Communities Through the Federal Government.
Computer Security Incident Notification Requirements
Beginning May 1, 2022, banks must notify the Office of the Comptroller of the Currency (OCC) within 36 hours of a computer security incident. The agency recently issued a bulletin on points of contact to satisfy the notification requirement.