Latest actions by federal financial institution regulators related to the impact of the 2020 coronavirus crisis
An interim final rule detailing how mortgage servicers can provide COVID-19-related forbearance based on their evaluation of limited information collected from a borrower – and which took effect July 1 – is outlined in a […]
Purchasing a $318,000 Italian sports car with money obtained through a federal program meant to help businesses through the coronavirus crisis is strongly frowned upon, a Florida man learned Monday when he was charged with […]
Paycheck Protection Program (PPP) loans to businesses owned by their directors and certain shareholders who are also bank directors, officers and shareholders will be allowed – subject to certain limits, and without favoritism – under […]
The “dense fog” of coronavirus-related uncertainty is shrouding the economic outlook, posing headwinds to an economic recovery for some time and calling for a sustained commitment to accommodation along with additional fiscal support from the […]
Title: Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition; Delay of Mandatory Compliance Date Subject: Qualified mortgage Agency: CFPB Status: Final rule Summary: The Bureau of Consumer Financial […]
Financial institutions were urged to be alert to the financial “red flags” that may indicate COVID-19-related imposter scams or money mule schemes in a Treasury financial crimes enforcement unit advisory Tuesday that also gives instructions […]
The long-promised Main Street Lending Program (MSLP) of the Federal Reserve is now fully operational and ready to purchase eligible loan participations by registered lenders, the Boston arm of the central bank said Monday. The […]
The borrowing authority for the facility designed to help credit unions meet liquidity demands, particularly due to the financial impact of the coronavirus crisis, rose to $25.8 billion by the end of May – an […]
The nation’s eight largest and most complex banks will be required to provide information about their response to events surrounding the coronavirus (COVID-19) in “targeted” resolution plans due to the Federal Reserve and Federal Deposit […]
Title: Treatment of Certain COVID-19 Related Loss Mitigation Options Under the Real Estate Settlement Procedures Act (RESPA) (Regulation X) Subject: RESPA; loss mitigation Agency: CFPB Status: Interim final rule Summary: The Bureau of Consumer Financial […]
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