Mar 2, 2021
IT Hot Topics Webinar Recording is Available
On February 24, CrossState hosted a free webinar, IT Hot Topics, presented by RKL. In case you missed the live session, or would like to view it…
Advocacy Works
Mar 2, 2021
SBA Issues New Procedural Notice, Updated PPP Data
The Small Business Administration (SBA) has issued a new procedural notice announcing that 504 loans will be funded through the debenture sales occurring in April through June…
Mar 1, 2021
Federal Reserve Announces Strategic Approach to FedNow Service
The Federal Reserve (Fed) recently announced its 120+ strong pilot participant roster and a narrowed timeframe — now 2023 — for the agency’s industrywide service launch. Next on the horizon is…
Feb 26, 2021
Bill to Protect Pandemic Relief Payments Introduced in NJ Senate
Legislation that would provide certain protections for pandemic-related financial assistance was introduced in the New Jersey Senate. The bill (S3405) defines “financial assistance” as any…
Feb 26, 2021
Rep. Pascrell Renamed to Ways & Means Subcommittee Chairmanship
U.S. Rep. Bill Pascrell, Jr. (D-NJ-9) has been named to another term as chairman of the House Ways and Means Oversight Subcommittee. The 13-term New…
Feb 26, 2021
NJ Remote/Electronic Notary Measure Stalls in Senate Committee
Legislation (S2508) that would authorize notaries to perform certain acts was held in New Jersey Senate Budget and Appropriation Committee when some concerns surfaced about…
Feb 26, 2021
FFIEC Releases Updates to the BSA/AML Examination Manual
The Federal Financial Institutions Examination Council (FFIEC) yesterday released updates to four sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (Manual). The updates affect the…
Feb 26, 2021
SBA PPP Reforms Fact Sheet
On Monday, February 22, President Biden announced changes to (the Small Business Administration’s) SBA’s coronavirus relief programs to ensure equity. The White House has issued a Fact Sheet to…
Feb 24, 2021
CFPB Issues Updated Small Entity Compliance Guide, ATR/QM Guidance
The Consumer Financial Protection Bureau (CFPB) Tuesday issued updated Ability-to-Repay/Qualified Mortgage (ATR/QM) guidance. The CFPB updated the small entity compliance guide and other compliance aids for the ATR/QM Rule….
Feb 23, 2021
NCUA’s Board Meeting
The National Credit Union Administration (NCUA) held an open meeting on February 18 using live audio webcast. During the meeting, the NCUA Board approved a final…