NewsWatch Today

The Internal Revenue Service clarified that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of COVID-19 are deductible medical expenses.

ICBA thanked Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa) for introducing legislation to exempt from taxation interest income on farm real estate and rural mortgage loans.

ICBA called on the NCUA to create a minimum regulatory capital framework that is no less stringent than the Basel III regulatory capital framework in effect for community banks.

April is Community Banking Month, and ICBA offers resources to help community banks get involved, including a toolkit to help tell the community banking story.

ICBA and The Venture Center hosted the ICBA ThinkTECH Accelerator Virtual Demo Day to demonstrate the third Accelerator cohort's community bank-focused fintech solutions.

The SBA said it is increasing maximum Economic Injury Disaster Loan amounts for small businesses from $150,000 over six months to $500,000 over 24 months.

ICBA's affiliated state community banking associations are hosting a series of live and virtual agriculture conferences in 2021.

With Paycheck Protection Program and credit union issues coming to a head this week in Washington, ICBA is urging community bankers to weigh in with policymakers via its Be Heard grassroots action center.

ICBA-advocated legislation to establish a cannabis-banking safe harbor in states where cannabis is legal was reintroduced in the Senate following House introduction last week.

The Conference of State Bank Supervisors said 13 nationwide payments firms have undergone or are undergoing their single comprehensive exams during the first quarter as part of the "One Company, One Exam" program.

ICBA and other groups called on the OCC to withdraw a proposed rule to impose a rules-based approach to what national banks and federal savings associations can do with their buildings, land, and facilities.

With the Senate expected to vote this week on House-passed legislation to extend the Paycheck Protection Program, ICBA is urging community bankers to contact their senators in support