The Financial Crimes Enforcement Network issued an advisory to alert financial institutions to fraud and other financial crimes related to Economic Impact Payments.
Community banks reported net income growth of 21.2 percent in the fourth quarter from a year ago and a 3.6 percent increase in 2020 from the year before, according to the FDIC's Quarterly Banking Profile.
ICBA and other groups urged Congress to include language in the next stimulus package exempting the third round of Economic Impact Payments from garnishment.
Federal regulators issued final call report changes related to asset threshold relief given the impact of Paycheck Protection Program lending on bank balance sheets.
Federal Reserve Chairman Jerome Powell is slated to testify this week before the Senate Banking Committee and House Financial Services Committee on the agency's Semiannual Monetary Policy Report.
ICBA, ICBA Securities, and Vining Sparks are hosting a complimentary webinar for FDIC-designated Minority Depository Institutions on evaluating unsolicited interest from investors to provide capital and funding.
Insured depository institutions under $10 billion in assets in 2021 have approved more than 740,000 Paycheck Protection Program loans worth $60.7 billion, according to the latest SBA data issued this week.
Federal Reserve Governor Lael Brainard said climate change is already imposing substantial economic costs while presenting risks and opportunities to financial institutions.
