ICBA and other groups thanked Sen. John Thune (R-S.D.) and Reps. Jason Smith (R-Mo.) and Sanford Bishop (D-Ga.) for introducing legislation to permanently repeal the estate tax, which taxes the value of an estate at the time of death.
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.
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.
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.
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.
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.
The Consumer Financial Protection Bureau rescinded seven policy statements issued last year that provided temporary flexibilities to financial institutions on mortgage lending, credit reporting, credit cards,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.
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 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.
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.
The Independent Community Bankers of America today announced that Valerie Utsey has joined the association as executive vice president and chief human resources officer.
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.
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.
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.
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.
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.
