A letter urging suspension of efforts to revise Community Reinvestment Act (CRA) rules during the coronavirus (COVID-19) pandemic, and urging a new effort that also includes the Federal Reserve once this crisis passes, was sent […]
Seven elements of a crisis readiness framework should be established to deal with a crisis, including – but not necessarily focusing on – the current coronavirus pandemic, according to the recommendations of the inspector general […]
Eight key portions of legislation enacted in late March to bolster the economy (including workers and businesses) that affect credit unions and their operations are outlined in a Tuesday letter to the institutions from their […]
Wells Fargo Bank received a reprieve Wednesday – if perhaps temporarily – from growth restrictions placed on it by federal regulators in 2018, due to “extraordinary disruptions from the coronavirus.” In a release, the Federal […]
The chairman of the nation’s central bank will discuss the state of the economy and impacts of the coronavirus (COVID-19) pandemic during an online-only discussion Thursday at the Brookings Institution. Federal Reserve Board Chair Jerome […]
Hoping to match up past statements with newly enacted laws, federal financial institution regulators Tuesday issued a joint statement noting that loan modification programs (including troubled debt restructurings [TDRs]) offered to financial institution customers affected […]
Loans credit unions make through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), created to help small businesses weather the coronavirus pandemic, are 100% guaranteed and will not count against a credit union’s member […]
Loans made under a loan program to protect workers’ earnings (the Paycheck Protection Program, PPP) will not require re-verification under applicable anti-money laundering laws unless otherwise indicated by the financial institution’s risk-based approach to compliance […]
Modified loan/application registers (LARs) for each institution that filed Home Mortgage Disclosure Act (HMDA) data collected last year are now available, the umbrella group for federal financial institution regulators said Monday. The Federal Financial Institutions […]
Comment deadlines for two federal banking regulatory proposals – one from the Office of the Comptroller of the Currency (OCC) on licensing requirements, the other from the Federal Deposit Insurance Corp. (FDIC) on requirements for […]
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