Community banks are speaking out against President Joe Biden’s proposal to require financial institutions to report to the IRS deposits and withdrawals of all business and personal accounts with a balance of more than $600. [Continue]
Sparked by PPP and other stimulus efforts, the SBA’s main lending program is seeing significantly higher volumes this year. [Continue]
The Federal Deposit Insurance Corp. on July 20 issued a proposed rule to simplify aspects of the agency’s insurance coverage standards. [Continue]
The Office of the Comptroller of the Currency will rescind and replace the Community Reinvestment Act rule issued in May 2020 under former President Donald Trump. [Continue]
U.S. home prices increased nearly 10.5 percent in 2020 as demand soared amid Covid-19 and associated state shutdowns. [Continue]
Bridgewater Bank executives say the pending increase in minimum starting wages in their institution to $20 per hour next month is necessary to keep entry-level employees on board and foster a positive work environment. The need to offer additional amenities and starting pay increases comes as companies, including banks, face an increasingly competitive economic environment. [Continue]
Twin Cities-based Bridgewater Bank will raise its minimum wage to $20 per hour for all regular, full-time employees, beginning Aug. 1. [Continue]