The agency proposed changes in December to how customer relationships affect the definition of brokered funds, which has big implications for banks that are not well capitalized.
The Trump administration’s $349 billion small-business rescue kicked off Friday surrounded by concerns about its ability to handle an expected flood of applications and deliver enough aid to mom-and-pop firms hit hardest by the coronavirus pandemic.
Some people counting on $1,200 stimulus checks from the government may not see the money until mid-September, according to a House Ways and Means Committee analysis.
Regulators point to traditional financial institutions as well-positioned to meet short-term credit needs during the coronavirus pandemic, but there are still a host of questions about whether the industry should try to compete with high-cost lenders.
Negative outlooks trigger questions about other reeling areas in the capital markets crosshairs.
The Internal Revenue Service and the Treasury Department have reversed course on requiring senior citizens to file a “simple tax return” in order to receive a stimulus payment as part of the coronavirus package passed by Congress last week.
Some of the most contested pieces of the 2017 tax overhaul are being revisited as the White House and Congress begin to discuss another round of economic stimulus, including restoring the break for entertaining business clients and lifting the cap on state and local deductions.
If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.
The Treasury Department is pushing back the tax payment due dates for wine, beer, distilled spirits, tobacco products, firearms and ammunition excise taxes to offer them more flexibility for businesses that have been negatively affected by the coronavirus pandemic.
Ron DeSantis says he won’t trim or sign the 2021 state budget yet, but on Wednesday issued a statewide order limiting movement to essential services.