NewsWatch Today

The SBA is warning Congress that the recently extended Paycheck Protection Program is starting to run low on funds with nearly two months left for borrowers to apply.

ICBA and other groups called on Treasury Secretary Janet Yellen and FHFA Director Mark Calabria to delay product and program restrictions for Fannie Mae and Freddie Mac.

ICBA expressed support for legislation to raise the currency transaction reporting and Suspicious Activity Reporting thresholds to $30,000 and $10,000, respectively.

The April issue of Independent Banker magazine profiles ICBA's 2021-2022 executive committee. The interviews with ICBA leadership bankers cover the pandemic’s permanent changes to banking, evolving customer needs and expectations, community bank advocacy priorities, and more.

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.