Bank Wire

Description

Abstract: This brief summary of recent developments in community banking explains that the federal banking agencies have issued a rule temporarily offering appraisal relief to real estate transactions affected by the coronavirus (COVID-19) national emergency. It also notes that the Federal Reserve Board has relaxed a restriction on savings accounts transfers and points out that the Coronavirus Aid, Relief, and Economic Security (CARES) Act defers payroll taxes, also temporarily. Finally, the article discusses the results of a recent survey of community banks.