Senators Question Yellen Over Tax Reporting Proposal (11/10/2021)

Treasury Secretary Janet Yellen faced tough questions from members of the Senate Banking Committee on the Biden administration’s controversial proposal.

Vote 2020 Site Offers Important Information for Voters (11/10/2021)

With election day just days away, the Vote 2020 site offers important information for voters.

IRS Extends Contribution Due Dates for IRAs and HSAs to May 17 (11/10/2021)

The IRS extended due dates for contributions to individual retirement arrangements, health savings accounts and other similar savings accounts to May 17.

Federal Court Issues Administrative Stay of Vaccine Mandate (11/8/2021)

A federal appellate court issued an administrative stay of enforcement of the emergency temporary standard that will require all employers with 100 or more employees to be fully vaccinated or test weekly for COVID-19.

Survey: Banks Continue to Offer More Products Favorable for Older Customers (11/4/2021)

As older Americans—those born before 1965—hold 65% of deposit balances in the U.S., banks have continued to offer more products with terms that are favorable to them.

Hsu: ‘Synthetic Banking Providers’ Should Adhere to Bank Regulations (11/4/2021)

Acting Comptroller of the Currency Michael Hsu warned that the “rebundling of banking services by fintechs and the fragmented supervision of universal crypto firms pose significant medium- to long-term risks to consumers."

AmBA Asks OCC to Minimize Burden on Banks During CRA Regulatory Transition (11/1/2021)

AmBA urged the OCC to minimize the burden and confusion for banks that would result if the agency were to rescind its 2020 CRA rule.

21 House Democrats Call for IRS Reporting Proposal to be Cut from Spending Bill (10/28/2021)

A group of 21 Democratic representatives wrote to House leadership calling for the removal of the Biden administration’s controversial proposal for IRS reporting.

Morning Consult Poll: Banks Get Top Approval Ratings from Consumers (10/19/2021)

Nine in 10 Americans with a bank account say they are satisfied or very satisfied with their primary bank.

Biden Meets with Bank CEOs, Business Leaders to Discuss Debt Ceiling (10/7/2021)

Failing to raise the debt ceiling and allowing the U.S. to default on its debt would have potentially catastrophic consequences for the economy and for Americans, CEOs of the nation’s largest banks told President Biden.

AmBA, State Associations Oppose Revised Tax Reporting Proposal (9/27/2021)

AmBA and 51 state associations told house lawmakers that requiring banks to report information to the IRS on gross inflows and outflows on customer accounts is “bad tax policy.”

SBA Issues Final Rule on PPP Loan Review Decision Appeals Process (9/27/2021)

The SBA has issued a final rule outlining procedures for appealing final SBA PPP loan review decisions to its Office of Hearings and Appeals.

ABA, Trade Groups: IRS Reporting Proposal Raises Data Privacy Concerns (9/20/2021)

ABA, along with more than 40 trade associations, sent a joint letter to House leadership and members on Friday expressing concerns about the IRS reporting proposal.

Yellen Keeps Up Push for IRS Reporting Proposal in Spending Bill (9/16/2021)

Treasury Secretary Janet Yellen continues push for IRS Reporting Proposal in spending bill.

House Releases Draft Spending Bill (9/14/2021)

The House tax writing committee released legislative text for the Biden administration’s $3.5 trillion spending plan.