ABA, Groups Urge Congress to Shield EIPs from Garnishment
As Congress prepares to pass the $1.9 trillion COVID-19 relief bill—which includes another round of $1,400 economic impact payments—the American...
Policy
ABA Weighs in on Proposed GSE Liquidity, Resolution Planning Requirements
In two comment letters to the Federal Housing Finance Agency last week, the American Bankers Association weighed in on proposed...
Fed to Extend Paycheck Protection Program Liquidity Facility
The Federal Reserve will extend its Paycheck Protection Program Liquidity Facility until June 30, 2021, the agency announced today.
Fed Clarifies Guidance on MDIs
The Federal Reserve today clarified its guidance on how it defines minority depository institutions, and expanded its definition to include...
Financial Trades Call for PPP Flexibility to Resolve Hold Codes, Process Outstanding Applications
As the Small Business Administration prepares to wind down the Paycheck Protection Program at the end of the month, the...
Treasury Announces $9 Billion Investment in CDFIs, MDIs
The Treasury Department today announced that it will invest $9 billion in community development financial institutions and minority depository institutions...
Nichols Calls for Scrutiny of Chartering ‘Loopholes’ for Nontraditional Financial Firms
In an American Banker op-ed today, ABA President and CEO Rob Nichols urged the Federal Reserve to “take a very...
SBA Adjusts PPP Payroll Calculation For Form 1040, Schedule C Filers
The Small Business Administration has just issued an interim final rule implementing recent changes to the Paycheck Protection Program.
FDIC Publishes Strategic Plan to Enhance DEI Efforts
The FDIC today released a strategic plan outlining how it will focus its internal and external diversity, equity and inclusion...
CFPB Nominee Has ‘Open Mind’ About Potential QM Rule Changes
At his confirmation hearing to serve as the next director of the Consumer Financial Protection Bureau today, Rohit Chopra told...
