AICPA seeks relief for taxpayers
The American Institute of CPAs (AICPA) is seeking relief for taxpayers that would permit them to mitigate substantial and unexpected increases to taxable income stemming from the COVID-19 pandemic. ...
Read More
FDIC issues 2021 Risk Review
The Federal Deposit Insurance Corporation (FDIC) has issued its 2021 Risk Review, noting the banking system's comprehensive summary of emerging risks enables policymakers and bankers to mitigate scope...
Read More
Sen. Crapo seeks clarification of tax gap estimates
Sen. Mike Crapo (R-ID) has forwarded correspondence to Internal Revenue Service (IRS) Commissioner Charles Rettig as a means of gaining clarification regarding tax gap estimates. The request for ...
Read MoreNAFCU expresses concerns over the Fed’s Regulation II proposal
Leadership at the National Association of Federally-Insured Credit Unions (NAFCU) has voiced concerns over the Federal Reserve’s proposal to make changes to Regulation II – which covers debit card...
Read More
Republican lawmakers urge Labor Secretary to fight unemployment insurance fraud
Two leading Congressional Republicans are urging U.S. Department of Labor Secretary Marty Walsh to devote more funding to detect and prevent unemployment insurance fraud. Sen. Mike Crapo (R-ID), r...
Read More
NVCA expresses support of International Entrepreneur Rule launch
The National Venture Capital Association (NVCA) is expressing support for the Biden Administration's full launch of the International Entrepreneur Rule (IER), noting the action would spur job creation...
Read More
ICBA, ProfitStars extend service agreement
The Independent Community Bankers of America (ICBA) announced Tuesday the extension of its Preferred Service Provider agreement with the financial services industry firm ProfitStars to include risk ma...
Read More
SEC approves first security-based swap data repository
The Securities and Exchange Commission (SEC) approved its first security-based swap data repository (SDR) – the DTCC Data Repository, LLC (DDR). This is the first SDR that can accept transaction ...
Read More
Rep. Sewell introduces bill to help part-time workers save earlier for retirement
U.S. Rep. Terri Sewell (D-AL) introduced legislation in the House to reduce the number of years of service required for part-time workers to make retirement contributions. The bill is called the Re...
Read More
Treasury Department allocates more than $21B for emergency rental assistance
Department of the Treasury officials said an additional $21.6 billion has been allocated for emergency rental assistance to prevent evictions and ensure housing amid the COVID-19 pandemic. The Whit...
Read More
Pennsylvania House passes bill to support integrity of banking system
The Pennsylvania State House of Representatives approved a bill last week that seeks to support the integrity of Pennsylvania’s banking system. The legislation, House Bill 859, was introduced by ...
Read More
Rep. McHenry introduces Gig Worker Equity Compensation Act
U.S. Rep. Patrick McHenry (R-NC) introduced legislation that would include the gig workforce in the category of workers who can benefit from equity compensation. The Gig Worker Equity Compensation ...
Read More
Lawmakers inquire about efforts to transition federal student loans back to repayment model
U.S. Sens. Elizabeth Warren (D-MA), Tina Smith (D-MN), Sherrod Brown (D-OH), and Edward J. Markey (D-MA) forwarded correspondence Thursday to Secretary of Education Miguel Cardona requesting informati...
Read More
NAFCU, Rep. Brady discuss tax exemption preservation
National Association of Federally-Insured Credit Unions (NAFCU) officials recently met with House Ways and Means Committee Ranking Member Kevin Brady (R-TX) regarding tax exempt preservation, among ot...
Read More
CBA, financial industry groups ask OCC to withdraw 2020 Community Reinvestment Act Rule
A group of financial industry trade groups, including the Consumer Bankers Association, are calling on the Office of the Comptroller of the Currency (OCC) to withdraw its June 2020 Community Reinvestm...
Read More
Federal Reserve Board to hear public comment on fintech proposal
The Federal Reserve Board is seeking public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks from non-bank organizations or financial tech...
Read More
Lawmakers advocate anti-money laundering initiative
A group of lawmakers recently encouraged the Financial Crimes Enforcement Network (FinCEN) to implement a beneficial ownership reporting system as a means of addressing money laundering and internatio...
Read More
House committee advances legislation seeking to bolster retirement savings
The House of Representatives Ways & Means Committee has advanced the Securing a Strong Retirement Act of 2021, noting the measure expands opportunities to increase retirement savings. Additionally,...
Read More
NFIB files amicus brief in Utah AG’s lawsuit over American Rescue Plan
The National Federation of Independent Business’s Small Business Legal Center filed an amicus brief in support of Utah Attorney General Sean Reyes’ lawsuit against the federal government. Reyes...
Read More
CFPB, FTC urge landlords to adhere to moratorium on evictions
Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio and Federal Trade Commission (FTC) Acting Chair Rebecca Kelly Slaughter are reminding the nation’s largest apartment landlords ...
Read More