OFFICIAL PUBLICATION OF THE COMMUNITY BANKERS ASSOCIATION OF KANSAS

July 24, 2020

New-Coronavirus-Law

New Coronavirus Law Provides Retirement Plan and Health Care Relief

With virtually every part of the U.S. economy facing unexpected financial challenges from the coronavirus (COVID-19) pandemic, Congress has passed the largest relief package in U.S. history. Signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act is designed to assist the millions of Americans affected by the outbreak. The legislation has multiple provisions that affect retirement and health savings arrangements.

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Documenting-Pandemic-Responses

Documenting Pandemic Responses for CRA Credit

The Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (FRB), and Office of the Comptroller of the Currency (OCC) issued a “Joint Statement on CRA Consideration for Activities in Response to COVID-19” on March 9, 2020. The agencies state that they recognize the potential for the coronavirus disease, COVID-19, to adversely affect the customers and operations of financial institutions.

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