Operational Risk

Operational Risk includes risks such as cyber, data and physical security, natural disasters, pandemics or other internal and external forces.

Operational Risk includes risks such as cyber, data and physical security, natural disasters, pandemics or other internal and external forces that should be addressed in a community bank's disaster recovery, business continuity, incident response, or pandemic plans.

In some cases, Operational Risk can also result from inadequate or failed procedures, systems, or polices due to employee error, system failure, fraud or criminal activity.

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Pandemic News

IRS confirms SBA 7(a) payments no longer taxable income

Jan 22, 2021 | NewsWatch Today Article
The IRS this week issued guidance clarifying that SBA payments on existing 7(a) and 504 loans under Section 1122 of the CARES Act are no longer considered taxable income to the borrower.

FS-ISAC Coronavirus Update, Jan. 21, 2021

Jan 21, 2021 | Coronavirus Update
The U.S. reported 4,409 COVID-related deaths on Wednesday, the highest number of daily fatalities on record, according to this latest coronavirus update from FS-ISAC.

PPP resources available directly from SBA

Jan 21, 2021 | NewsWatch Today Article
Community bankers have reported problems with NewsWatch Today links to the SBA's Paycheck Protection Program resources, including application forms and rules.