Latest actions by federal financial institution regulators related to the impact of the 2020 coronavirus crisis
A COVID-19-related bylaw amendment for authorizing virtual-only membership and board meetings by federal credit unions (FCUs) is set to expire Dec. 31, according to a letter from the institutions’ federal regulator. The bylaw was approved […]
With “phase 3” of its phased approach to returning to onsite operations following the a lengthy period of distancing amid the COVID-19 pandemic, the National Credit Union Administration (NCUA) is expected today to resume onsite […]
Prompt corrective action (PCA) changes affecting earnings retention and the filing of net worth restoration plans remain in place through March 31, 2023, the National Credit Union Administration (NCUA) announced Friday in an NCUA Express […]
The four members of a team of undergraduate students from a Virginia university are the winners of the annual academic challenge hosted by the federal insurer of bank deposits, focusing on the impact of the […]
A temporary final rule providing pandemic-related regulatory relief under rules on loan participations, eligible obligations, and occupancy requirements for certain properties has been extended until Dec. 31, 2022, by notation vote of the National Credit […]
A self-initiated inspector general review of the federal credit union regulator’s work posture during the COVID-19 pandemic shows the agency “took actions designed to protect the health and safety of staff in response to COVID-19 […]
Flexibility for board meetings originally extended to federal credit unions during the height of the coronavirus crisis will be extended in the new year, the institutions’ regulator said Monday. In Letter to Credit Unions (LTCU) […]
Federal and state financial institution regulators on Wednesday said they were ending the flexible approach to supervision and enforcement they initiated in April 2020 regarding certain mortgage servicing timing requirements. The agencies – the Federal […]
Growth in the consumer credit card market in recent years reversed itself in 2020, with credit card debt falling to $811 billion by the second quarter of 2020 from a 2019 peak of $926 billion […]
Credit access declined during the coronavirus crisis for credit cards but increased for mortgages and auto loans, the federal consumer financial protection agency said in its final report issued Thursday in a series documenting consumer […]
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