Biden, CFPB Target Junk Fees

The Biden administration’s push to crack down on so-called junk fees that banks and other companies charge their customers is being met with withering criticism from banking groups.

Mass. Bankers Slams Biden OCC Nominee

Citing a proposal they described as “anathema to community banks,” the Massachusetts Bankers Association and 40 other state banking trade groups have signed a joint letter opposing law professor Saule Omarova’s nomination to lead the Office of the Comptroller of the Currency.

Industry Groups Continue Campaign Against IRS Reporting

An aggressive industry campaign against a Biden administration proposal to report bank account information to the Internal Revenue Service continued on Thursday as more than 100 trade groups and other organizations sent a joint letter to congressional leaders voicing opposition to the proposal.

Congress Extends PPP Deadline

The Senate passed a bill 92-7 on Thursday to extend the deadline for business owners to apply for forgivable loans through the Paycheck Protection Program, giving applicants two more months to apply for federal aid.

Real Estate, Banking Industries Respond to Capitol Siege

Major figures in the banking and commercial and residential real estate industries roundly condemned Wednesday’s attack on the U.S. Capitol Building by supporters of President Donald Trump aimed at halting Congress’ ceremonial affirmation of the 2020 election results.