NewsWatch Today

The Financial Accounting Standards Board this week agreed to add a project to its technical agenda to investigate the suspension of troubled debt restructuring accounting for entities that have adopted the Current Expected Credit Losses accounting standard.

The IRS today begins distributing Advance Child Tax Credit payments authorized by the American Rescue Plan.

The Cybersecurity and Infrastructure Security Agency issued Emergency Directive 21-04 on mitigating a vulnerability in the Microsoft Windows Print Spooler service.

The FDIC and Consumer Financial Protection Bureau released an enhanced version of the Money Smart for Older Adults financial education curriculum.

Federal banking regulators proposed interagency guidance designed to help banks manage risks associated with third-party relationships, including those with fintech entities.

ICBA’s Minority Bank Advisory Council today is expressing strong opposition to the Biden administration’s proposal to require banks to report customer account information to the IRS.

President Joe Biden directed the Justice Department and federal banking regulators to more closely scrutinize bank mergers and make it easier for customers to switch banks.

A former National Credit Union Administration official this week raised concerns over credit union acquisitions of community banks.

House Ways and Means Committee Republicans issued a fact sheet pushing back on the Biden administration’s proposal to require banks to report customer account information to the IRS.

The Consumer Financial Protection Bureau launched a digital media toolkit with resources for renters and mortgage borrowers who continue to struggle financially from the coronavirus pandemic.

The Treasury Department will again extend the deadline to submit applications under its program to invest $9 billion in Minority Depository Institutions (MDIs) and Community Development Financial Institutions.

Congress is under increasing pressure to investigate credit union acquisitions of community banks, ICBA President and CEO Rebeca Romero Rainey wrote in a recent article on LinkedIn.