VIEWpoint Issue 1 | 2022
Brief Insights | Meeting Provider Relief Fund Reporting Requireme...
VIEWpoint Issue 2 | 2021
2022 Q4 Tax Calendar: Key Deadlines for Businesses and Other Empl...
Ask the Advisor: Key Tax Incentive Changes
Weathering the Storm of Rising Inflation
On Feb. 22, 2022, an interagency statement was issued reminding financial institutions they can establish special purpose credit programs to help meet the needs of specified classes or persons by the following agencies:
Special purpose credit programs, pursuant to the Equal Credit Opportunity Act and Regulation B, allow financial institutions to consider a prohibited basis such as race, national origin or sex in extending credit. Although financial institutions are encouraged to explore opportunities to develop such programs, the agencies will not determine whether a program qualifies for special purpose credit status. Rather, questions about the programs should be directed to their regulatory agency.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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