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Treasury plans EIP outreach for unserved households

Jan 25, 2021 | NewsWatch Today
The Treasury Department announced plans to help the up to 8 million households that have not yet been able to access either round of Economic Impact Payments.

Yellen nomination advances in Senate

Jan 25, 2021 | NewsWatch Today
The Senate Finance Committee unanimously approved the nomination of Janet Yellen for Treasury secretary. The committee vote sends Yellen's nomination to the full Senate for a final confirmation vote, which is scheduled for tonight.

ICBA seeks more gradual increase of same-day ACH limits

Jan 25, 2021 | NewsWatch Today
ICBA said it supports Nacha's plan to raise the individual same-day ACH transaction limit from $100,000 to $1 million in 2022. However, ICBA urged Nacha to assess the impact of such an increase before proceeding with its plan to remove dollar limits altogether in 2024.

IRS confirms SBA 7(a) payments no longer taxable income

Jan 22, 2021 | NewsWatch Today
The IRS this week issued guidance clarifying that SBA payments on existing 7(a) and 504 loans under Section 1122 of the CARES Act are no longer considered taxable income to the borrower.

Biden names acting agency heads

Jan 22, 2021 | NewsWatch Today
President Joe Biden named agency heads serving in an acting capacity until permanent leadership is confirmed by the Senate.

ICBA urges OCC to rescind CRA survey

Jan 22, 2021 | NewsWatch Today
ICBA encouraged the OCC to rescind its proposal to require national banks over $2.5 billion in assets to complete an Information Collection Survey to establish benchmarks for its 2020 Community Reinvestment Act rule.

Biden expected to tap Michael Barr to head OCC

Jan 22, 2021 | NewsWatch Today
President Joe Biden is expected to nominate former Treasury Department official Michael Barr for comptroller of the currency, according to reports from Politico and other news outlets citing anonymous sources.

PPP resources available directly from SBA

Jan 21, 2021 | NewsWatch Today
Community bankers have reported problems with NewsWatch Today links to the SBA's Paycheck Protection Program resources, including application forms and rules.

Kraninger steps down from CFPB

Jan 21, 2021 | NewsWatch Today
Kathy Kraninger announced Wednesday that she resigned as Consumer Financial Protection Bureau director, as requested by President Joe Biden's administration.

Agencies issue FAQs on SARs

Jan 20, 2021 | NewsWatch Today
Federal regulators issued responses to frequently asked questions regarding Suspicious Activity Reports and other anti-money-laundering considerations.

Agencies finalize rules on supervisory guidance

Jan 20, 2021 | NewsWatch Today
The FDIC, OCC, and CFPB issued final rules to clarify and codify the role of supervisory guidanc

CFPB finalizes escrow relief

Jan 20, 2021 | NewsWatch Today
The Consumer Financial Protection Bureau issued a final rule implementing ICBA-supported relief from mandatory escrow requirements for higher-priced mortgage loans.