NewsWatch Today

Senate Banking Committee Republicans led by Sen. Mike Crapo (R-Idaho) called on federal regulators to use their authority to extend the 8 percent Community Bank Leverage Ratio through Dec. 31.

The Consumer Financial Protection Bureau proposed a set of rules changes to prevent foreclosures as emergency protections expire.

ICBA is encouraging community bankers to call on Congress to hold hearings on credit union acquisitions of taxpaying community banks.

ICBA and other groups thanked Sen. John Thune (R-S.D.) and Reps. Jason Smith (R-Mo.) and Sanford Bishop (D-Ga.) for introducing legislation to permanently repeal the estate tax, which taxes the value of an estate at the time of death.

The IRS issued guidance for employers claiming the Employee Retention Credit for the first and second quarters of 2021.

Following the announcement of the largest-ever credit union purchase of a community bank, ICBA renewed its call for policymakers to investigate credit union acquisitions of community banks.

The Consumer Financial Protection Bureau “warned” mortgage servicers to take all necessary steps to prevent a wave of foreclosures this fall.

Sen. Chris Van Hollen (D-Md.) and several other Democratic senators this week introduced legislation that would require estates to pay capital gains tax before assets are distributed to heirs, with an exemption for the first $1 million of capital gains.

The Financial Crimes Enforcement Network is seeking public comment by May 5 on implementing new beneficial ownership information requirements.

Regulators released 2020 Home Mortgage Disclosure Act Loan Application Register data for approximately 4,400 HMDA filers. Annual loan-level LAR data for each HMDA filer are made available online by March 31.

The Consumer Financial Protection Bureau rescinded seven policy statements issued last year that provided temporary flexibilities to financial institutions on mortgage lending, credit reporting, credit cards, and prepaid cards.

The Federal Reserve Board adopted a final rule outlining and confirming the use of supervisory guidance for regulated institutions.