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Federal Reserve

Regulators set to finalize reforms to anti-redlining law

After years of uncertainty and limbo, federal bank regulators are set to finalize reforms to the Community Reinvestment Act next week.

The Federal Reserve announced today that the board will convene next Tuesday, Oct. 24, to vote on the Biden administration’s version of the reform, which regulators proposed back in May 2022. This is an interagency effort and includes the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency as well.

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It’s taking the IRS years to process a small business tax credit. 1M+ small business owners who filed for the Employee Retention Credit are stuck in backlog or waiting on payment for their claims. Tell the IRS to lift the moratorium now.

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