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.
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.
The Consumer Financial Protection Bureau released a Spanish-language translation of certain model clauses available for use in early-intervention written notices issued under its mortgage-servicing rules.
The Federal Reserve said it will release a new tool this month to help community banks implement the Current Expected Credit Losses accounting standard.
The Federal Housing Finance Agency issued a policy statement on its commitment to comprehensive fair lending oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.
The IRS upgraded an online tool to enable families to update their bank account information so they can receive their monthly Child Tax Credit payment.
