NewsWatch Today

ICBA offers the following community bank takeaways on this week's SBA interim final rule, frequently asked questions, updated application forms, and webinar implementing Paycheck Protection Program changes for IRS Form 1040, Schedule C filers.

The Cybersecurity and Infrastructure Security Agency is hosting a conference call at noon (Eastern time) today on the active exploitation of a vulnerability in Microsoft Exchange Server 2013, 2016, and 2019

Nacha's new rule allowing Same Day ACH transactions to be submitted to the ACH Network for an additional two hours every business day takes effect on at 4:45 p.m. (Eastern time) Friday, March 19.

The Treasury Department opened the application process for the Emergency Capital Investment Program, which will provide $9 billion in capital to Community Development Financial Institutions and Minority Depository Institutions.

The SBA released its new interim final rule and new application forms implementing Paycheck Protection Program changes for sole proprietors and other borrowers that file IRS Form 1040, Schedule C. An SBA webinar on the updates is scheduled for 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.