The head of the IRS is advocating to Congress an ICBA-opposed proposal that would require banks to report their customers’ account information to the agency—underscoring the importance of ICBA’s consumer-facing campaign opposing the plan.
ICBA told Congress that the Paycheck Protection Program needs a simple, easy-to-use forgiveness process to ensure the program works as intended for small-business borrowers.
ICBA’s consumer-facing campaign opposing a proposal to require the IRS to monitor bank account information has struck a nerve with community bank customers.
The Consumer Financial Protection Bureau issued a proposed rule to implement Dodd-Frank Section 1071, which requires the bureau to implement data collection and reporting requirements for small-business lending.
Community bank customers have joined the industry in expressing opposition to the Biden administration’s proposal to require banks to report their customers’ account information to the IRS.
A new Financial Times article (paywall) reports on how community banks have been “irreplaceable” during the pandemic, including by leading the Paycheck Protection Program response.
ICBA Chairman Robert Fisher is scheduled to testify this Wednesday at a House Small Business Committee hearing on what’s next for Paycheck Protection Program forgiveness.
ICBA continues encouraging consumers to express opposition to the Biden administration’s proposal to require banks to report their customers’ account information to the IRS.
The Alternative Reference Rates Committee released frequently asked questions on its best practices for using Secured Overnight Financing Rate term rates.
ICBA is encouraging consumers to express opposition to the Biden administration’s proposal to require banks to report their customers’ account information to the IRS.
