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CFPB proposes delaying new QM rule

Mar 4, 2021 | NewsWatch Today
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.

SBA: New PPP rule coming soon

Mar 2, 2021 | NewsWatch Today
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:

Romero Rainey named one of Washington's most influential

Mar 2, 2021 | NewsWatch Today
ICBA President and CEO Rebeca Romero Rainey was named one of Washington's most influential people by Washingtonian magazine.

Fed issues continuity tips for storm season

Mar 2, 2021 | NewsWatch Today
In a new post, the Federal Reserve provided resources on pre-storm planning, storm watching, and post-storm procedures

IRS issues guidance on employee retention credit

Mar 2, 2021 | NewsWatch Today
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.

SBA: PPP changes effective this week

Mar 1, 2021 | NewsWatch Today
The SBA this week plans to issue an interim final rule detailing and implementing pending changes to the Paycheck Protection Program.

ICBA summarizes new House-passed stimulus plan

Mar 1, 2021 | NewsWatch Today
ICBA released a summary of the House version of the $1.9 trillion American Rescue Plan Act (H.R. 1319), which the House passed Saturday on a nearly party-line vote.

Bill would expand farm partnership access to PPP

Mar 1, 2021 | NewsWatch Today
ICBA-supported legislation allowing farmers and ranchers categorized as partnerships to use gross income to calculate maximum Paycheck Protection Program loan amounts was introduced in the House.

Fed payment services back up following disruption

Feb 25, 2021 | NewsWatch Today
Federal Reserve payment services are back online following a three-hour disruption yesterday that the Fed attributed to "operational error."

PPP small borrower window opens, other reforms effective next week

Feb 25, 2021 | NewsWatch Today
One of the Biden administration's Paycheck Protection Program reforms announced earlier this week started yesterday, with the rest set to be implemented next week.

ICBA urges crop insurance support

Feb 25, 2021 | NewsWatch Today
ICBA and other groups urged policymakers to protect crop insurance from harmful cuts as they develop the fiscal 2022 budget.

FinCEN issues advisory on EIP fraud

Feb 25, 2021 | NewsWatch Today
The Financial Crimes Enforcement Network issued an advisory to alert financial institutions to fraud and other financial crimes related to Economic Impact Payments.