Recent News

Monday, July 6, 2020

The Office of the Comptroller of the Currency released a list of 21 Community Reinvestment Act (CRA) performance evaluations made in June, with 11 rated satisfactory, nine outstanding and one as needs to improve. The list includes national banks, federal savings associations and insured federal branches of foreign banks.

 

Wednesday, June 3, 2020

The Office of the Comptroller of the Currency released Tuesday a list of Community Reinvestment Act (CRA) performance evaluations made in May. Of the 17 CRA evaluations made public, 14 were satisfactory and three were outstanding. The list includes national banks, federal savings associations and insured federal branches of foreign banks.

Wednesday, May 20, 2020

The Office of the Comptroller of the Currency (OCC) today published a final rule amending Community Reinvestment Act (CRA) regulations, six weeks after the comment period closed on the proposed rule, which received more than 7,500 comments.

Tuesday, May 12, 2020

House Democrats today unveiled a $3 trillion COVID-19 relief bill, their proposal for “Phase 4” of pandemic relief legislation. The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act would provide nearly $1 trillion to state and local governments to avert layoffs and $200 billion in hazard pay for essential workers.

Monday, May 4, 2020

The Internal Revenue Service issued a notice that clarifies that taxpayers are not allowed a deduction for an expense if payment of the expense results in forgiveness of a Paycheck Protection Program (PPP) loan, and the income associated with the forgiveness is excluded from gross income.

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