The IRS issued Notice 2020-79 announcing the 2021 cost-of-living adjustments (COLAs) applicable to dollar limitations for employer-sponsored retirement plans, including individual retirement arrangements (IRAs). The annual contribution limit remains at ...
The IRS has released Revenue Procedure 2020-46 which modifies and updates Revenue Procedure 2016-47 which provides a list of permissible reasons for self-certification of eligibility for a waiver of the ...
On October 7, 2020 the Small Business Administration (“SBA”) added the following general FAQ #52 to the Paycheck Protection Program Loans (“PPP”) FAQ for Lenders and Borrowers. Question: The Paycheck ...
On October 2, 2020 the Small Business Administration (“SBA”) issued a Procedural Notice outlining what constitutes “Changes of Ownership” with respect to Paycheck Protection Program (“PPP”) borrowers, and the conditions ...
The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (the “Agencies”) adopted as final the interim rule ...
In letters dating back to 2016 and 2017, several financial institutions submitted requests for an exemption or interpretation regarding application of the customer identification program (“CIP”) to insurance premium finance ...
Yesterday, the Consumer Financial Protection Bureau (“CFPB”) made Issue 22 of its Supervisory Highlights available. This Issue covers examination topics identified between September 2019 and December 2019. One of the ...
The CFPB’s Consumer Credit Panel (CCP) published a report on “consumer credit outcomes stemming from the immediate and dramatic shocks to consumer and household income” resulting from the COVID-19 pandemic. ...
The IRS issued Notice 2020-68, that provides guidance on the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) that was enacted in December 2019 in a question-and-answer format. Topics ...
The Department of Veterans Affairs (VA) has revised its Form 26-8261a Request for Certificate of Veteran Status (JUL 2020). The following changes have been made and are effective immediately: The ...