IRS issues Employee Retention Credit guidance

Apr 5, 2021 | NewsWatch Today Article
The IRS issued guidance for employers claiming the Employee Retention Credit for the first and second quarters of 2021.

ICBA urges hearings following major credit union acquisition

Apr 2, 2021 | NewsWatch Today Article
Following the announcement of the largest-ever credit union purchase of a community bank, ICBA renewed its call for policymakers to investigate credit union acquisitions of community banks.

CFPB ‘warns’ mortgage servicers about foreclosure wave

Apr 2, 2021 | NewsWatch Today Article
The Consumer Financial Protection Bureau “warned” mortgage servicers to take all necessary steps to prevent a wave of foreclosures this fall.

Senate bill would tax capital gains at time of death

Apr 2, 2021 | NewsWatch Today Article
Sen. Chris Van Hollen (D-Md.) and several other Democratic senators this week introduced legislation that would require estates to pay capital gains tax before assets are distributed to heirs, with an exemption for the first $1 million of capital gains.

FS-ISAC Coronavirus Update, April 2, 2021

Apr 2, 2021 | Coronavirus Update
While some sectors are back to their pre-pandemic employment levels, the overall US economy still has more than 8 million fewer jobs than it did before Covid-19 related job losses started a year ago.

FinCEN begins implementing new reporting provisions

Apr 2, 2021 | NewsWatch Today Article
The Financial Crimes Enforcement Network is seeking public comment by May 5 on implementing new beneficial ownership information requirements.

ICBA Urges Hearings Following Largest-Ever Credit Union-Bank Acquisition

Apr 1, 2021 | Press Release
Following the announcement of the largest-ever credit union purchase of a community bank, the ICBA today renewed its call for policymakers to investigate the growing trend of tax-exempt credit unions acquiring taxpaying community banks.

Agencies issue 2020 HMDA data

Apr 1, 2021 | NewsWatch Today Article
Regulators released 2020 Home Mortgage Disclosure Act Loan Application Register data for approximately 4,400 HMDA filers. Annual loan-level LAR data for each HMDA filer are made available online by March 31.

CFPB rescinds policy statements granting temporary relief

Apr 1, 2021 | NewsWatch Today Article
The Consumer Financial Protection Bureau rescinded seven policy statements issued last year that provided temporary flexibilities to financial institutions on mortgage lending, credit reporting, credit cards, and prepaid cards.

Fed adopts rule on supervisory guidance

Apr 1, 2021 | NewsWatch Today Article
The Federal Reserve Board adopted a final rule outlining and confirming the use of supervisory guidance for regulated institutions.

FS-ISAC Coronavirus Update, April 1, 2021

Apr 1, 2021 | Coronavirus Update
During a White House briefing Wednesday, Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, said the agency’s most recent data shows the seven-day average of new cases is just under 62,000 cases per day,

ICBA, Community Banks Promote Financial Literacy in April

Apr 1, 2021 | Press Release
ICBA and community banks nationwide are celebrating Financial Literacy Month in April and encouraging Americans to take control of their financial future by learning fiscally responsible habits and putting these lessons into practice.

ICBA Celebrates the Nation’s Community Banks During Community Banking Month

Apr 1, 2021 | Press Release
This month, ICBA pays tribute to community banks for their ongoing contributions throughout the COVID-19 pandemic in a new video series, which highlights the unmatched role community banks served in supporting their small business customers through the Paycheck Protection Program.

Valerie Utsey Joins ICBA as Executive Vice President and Chief Human Resources Officer

Mar 31, 2021 | Press Release
The Independent Community Bankers of America today announced that Valerie Utsey has joined the association as executive vice president and chief human resources officer.

Agencies issue updated HMDA guide

Mar 31, 2021 | NewsWatch Today Article
The Federal Financial Institutions Examination Council issued the 2021 edition of “A Guide to HMDA Reporting: Getting It Right!” for HMDA-related data collected in 2021 and reported in 2022.

PPP extension signed into law

Mar 31, 2021 | NewsWatch Today Article
President Joe Biden signed into law ICBA-advocated legislation to extend the Paycheck Protection Program ahead of its scheduled expiration. Previously, any PPP application not approved by March 31 could not receive PPP funds.

EIPs heading to federal beneficiaries

Mar 31, 2021 | NewsWatch Today Article
The IRS said it expects to begin issuing additional Economic Impact Payments this weekend to federal beneficiaries who do not normally file a tax return.

Bill would require Fed study on CBDC

Mar 31, 2021 | NewsWatch Today Article
Reps. Bill Foster (D-Ill.) and French Hill (R-Ark.) recently introduced legislation directing the Federal Reserve to work with other agencies to study and issue a report on central bank digital currencies.

FS-ISAC Coronavirus Update, March 31, 2021

Mar 31, 2021 | Coronavirus Update
President Biden signed the PPP Extension Act of 2021 into law on Tuesday, a law extending the application deadline, originally set to expire on March 31, to May 31, and providing an additional 30-day period for the Small Business Administration to process application.

ICBA Thanks President for Signing PPP Extension

Mar 30, 2021 | NewsWatch Today Article
The Independent Community Bankers of America today thanked President Joe Biden for signing into law ICBA-advocated legislation to extend the Paycheck Protection Program ahead of its March 31 expiration.