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janderson@ironmountaindailynews.com
THE DICKINSON COUNTY BOARD will have a public hearing tonight at the county courthouse in Iron Mountain on the proposed $9.9 million general fund budget for 2021. (Betsy Bloom/Daily News photo)
IRON MOUNTAIN A public hearing will take place tonight on Dickinson County’s proposed 2021 general fund budget totaling $9.9 million, up 1.5% from this year.
The hearing will be during a county board meeting that begins at 6 p.m. in the circuit courtroom of the courthouse. Instructions for electronic participation will be posted at www.dickinsoncountymi.gov.
The county expects no pandemic aid in 2021, although that remains a possibility, as does the potential for reduced state revenues.
Sam Slade of Hilb
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Headlines
CFPB Expands the Definition of a Qualified Mortgage for Truth in Lending Purposes
FDIC Adopts New Rules Regulating Parent Companies of Insured Industrial Banks
Joint Guidance on Fintech Due Diligence Requirements for Community Banks to Come
Other Developments: LIBOR Transition, Branch Applications, and SAR Filing Requirements
1. FDIC Modernizes Brokered Deposit Rule and Amends Interest Rate Restrictions
The FDIC has adopted a final rule that establishes new standards for determining whether deposits made through certain kinds of arrangements with third parties qualify as brokered deposits, such as those between banks and financial technology (“fintech”) companies. The final rule approved on December 15 also amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized banks by defining the “National Rate” as the weighted average of rates paid by all banks and credit unions on a given deposit product based on eac