OCC Issues Long-Awaited Final Rule Clarifying ‘Valid When Made’ Principle
The OCC issued a long-awaited final rule today affirming that permissible interest on a loan made by a national bank...
Policy
House Advances Bill Providing Flexibility for PPP Borrowers
As expected, the House today passed a bipartisan bill that would provide greater flexibility for Paycheck Protection Program borrowers.
State Associations Flag Concerns Over ‘Unnecessarily Burdensome’ PPP Forgiveness Application
Fifty-one state bankers associations today raised concerns that the forgiveness application for Paycheck Protection Program loans may be overly burdensome...
SBA, Treasury Allocate $10B of Round Two PPP Funds for CDFIs
To help ensure that Paycheck Protection Program funds reach all small businesses in need, the Small Business Administration and Treasury...
Trade Groups Call for Changes to FDIC Proposal to Enable Bank Participation in PPP, Money Market Facilities
A recent proposal by the FDIC to provide certainty to banks participating in the Paycheck Protection program and its associated...
OCC Rule Clarifies Virtual Meeting Options for National Banks, Federal Thrifts
To facilitate banks’ needs to hold meetings during the coronavirus pandemic, the OCC is issuing an interim final rule clarifying...
IRS Reminds Consumers They May Receive EIPs Via Prepaid Debit Cards
The IRS today issued a reminder to consumers still awaiting their CARES Act economic impact payment that they may be...
ABA Joins Coalition Calling for Liability Relief Legislation
As states begin to slowly reopen local economies and businesses begin to resume normal operations, ABA joined a broad coalition...
Podcast: Supporting Small Business Cashflows in the COVID Recovery
Memorial Day signified the beginning of summer in many parts of the country, and the slow but steady reopening of...
ABA Joins Consumer, Banking Groups in Support for Bill to Prevent Garnishment of Economic Impact Payments
The American Bankers Association today joined with twelve consumer groups and banking industry organizations in supporting a bipartisan bill that...
