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

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.

IRS: PPE is tax deductible

Mar 29, 2021 | NewsWatch Today Article
The Internal Revenue Service clarified that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of COVID-19 are deductible medical expenses.