NewsWatch Today

While Congress is fast-tracking the next stimulus package, problems with existing recovery programs remain unaddressed, ICBA President and CEO Rebeca Romero Rainey wrote in an op-ed this week.

The Consumer Financial Protection Bureau proposed delaying the mandatory compliance date of its general Qualified Mortgage final rule from July 1, 2021, to Oct. 1, 2022.

The SBA said it will "soon" publish a new Paycheck Protection Program interim final rule and issue a new application for Schedule C filers. Until then, it issued the following considerations:

ICBA President and CEO Rebeca Romero Rainey was named one of Washington's most influential people by Washingtonian magazine.

In a new post, the Federal Reserve provided resources on pre-storm planning, storm watching, and post-storm procedures

The IRS issued guidance for employers claiming the employee retention tax credit under the CARES Act. The guidance includes clarifications and describes retroactive changes relating to expanded eligibility.

The SBA this week plans to issue an interim final rule detailing and implementing pending changes to the Paycheck Protection Program.

ICBA released a summary of the House version of the $1.9 trillion American Rescue Plan Act (H.R. 1319), which the House passed Saturday on a nearly party-line vote.

ICBA-supported legislation allowing farmers and ranchers categorized as partnerships to use gross income to calculate maximum Paycheck Protection Program loan amounts was introduced in the House.

Federal Reserve payment services are back online following a three-hour disruption yesterday that the Fed attributed to "operational error."

One of the Biden administration's Paycheck Protection Program reforms announced earlier this week started yesterday, with the rest set to be implemented next week.

ICBA and other groups urged policymakers to protect crop insurance from harmful cuts as they develop the fiscal 2022 budget.