The FDIC board today approved a $2.28 billion agency operating budget for 2021, a 12.9% increase from the 2020 budget. The board also authorized a 2021 staffing level of 5,793, a net increase of 65 positions from 2020.
“Recognizing that we are facing many uncertainties about the economic impact of the pandemic, this budget will provide requisite flexibility while allowing us to continue modernizing the FDIC’s operations and to promote innovation,” said FDIC Chairman Jelena McWilliams.
The IRS will issue a final rule to implement a new tax deduction for certain automobile purchases, according to a notice in the Federal Register.
Years of duplicative, one-size-fits-all regulation have strained the diversity of the banking sector, with the burden falling hardest on community banks, Kathy Kraninger, president and CEO of the Florida Bankers Association, told House lawmakers.
House Republican leadership announced it will not schedule votes during the final two weeks of September, freeing members to campaign for the upcoming midterm elections.
Fifty-two state bankers associations expressed strong support for the Federal Communications Commission’s proposals to ensure that all voice service providers in the path of a call take meaningful responsibility for keeping illegal calls off the U.S. calling network.
If consumers and businesses are encouraged to move money from bank deposits into stablecoins that offer interest-like rewards, those funds will no longer support local lending in the way they previously did, ABA Chair Kenneth Kelly said in...
The ABA Health Savings Account Council voiced its support for legislation that would allow working seniors on Medicare to contribute to HSAs.
