IRS Clarifies Deductibility of Trustee Fees from Trust Income

Financial institutions may use a mobile driver’s license or other government-issued virtual ID as a form of documentary verification for purposes of customer identification program compliance, so long as they maintain the appropriate technology or systems to extract...

Consumer inflation expectations in August decreased slightly at the medium-term horizon and remained unchanged at the short- and longer-term horizons, according to the Federal Reserve Bank of New York’s most recent Survey of Consumer Expectations.

ABA joined five associations in urging the Federal Housing Administration to provide clear language about eligibility for VA loan terms, as required under legislation recently passed by Congress.

FinCEN issued an alert for financial institutions on identifying and reporting procurement networks supporting Iran’s aviation industry. The alert was issued in conjunction with the announcement that the Treasury Department was imposing sanctions on 36 entities tied to...

Consumer credit increased at a seasonally adjusted annual rate of 4.2% in July. Total outstanding credit increased to $5,186.2 trillion during the month, from June’s revised total of $5,168.2 trillion.

ABA economists believe that small-business owners remain cautiously optimistic amid a mixed operating environment and that conditions could lead to tepid loan demand for small businesses in the coming months.