NewsWatch Today

The IRS today is launching a new feature allowing any family receiving monthly Child Tax Credit payments to update their income using the Child Tax Credit Update Portal.

The SBA said its 7(a) and 504 loan programs supported more than 61,000 traditional loans worth $44.8 billion in fiscal 2021. The lending comprised:

ICBA expressed strong opposition to certain tax provisions policymakers are considering as part of the Build Back Better reconciliation package.

A Biden administration draft framework for the next round of congressional reconciliation discussions leaves out the ICBA-opposed IRS reporting proposal, though ICBA’s campaign against the plan continues.

ICBA and other business groups urged Congress to reject proposed changes to grantor trust and valuation rules in the Build Back Better reconciliation bill.

The OCC issued revised interagency examination procedures and rescissions for the Truth in Lending Act

ICBA leaders appeared on Fox News to continue raising awareness of the widely opposed IRS reporting proposal.

ICBA and ICBA Bancard next week are kicking off a complimentary webinar series on how community banks can plan for their instant payments journey.

The Federal Housing Finance Agency proposed additional public disclosure requirements for Fannie Mae and Freddie Mac’s Enterprise Regulatory Capital Framework.

The acting head of the Commodity Futures Trading Commission urged Congress to consider granting his agency the authority to be the primary federal regulator for digital assets.

ICBA testified against the widely opposed IRS reporting proposal while a key Democratic senator raised objections to the policy.

The Consumer Financial Protection Bureau issued a final rule amending the official interpretations for Regulation Z, which implements the Truth in Lending Act.