Guidance to help mortgage servicers comply with forbearance requirements in dealing with consumers affected by the coronavirus (COVID-19) pandemic was issued jointly Thursday by the federal consumer bureau and state financial institution regulators. The guidance, […]
Of the 78 banks that received evaluation ratings in March under the anti-redlining Community Reinvestment Act (CRA), 10 of them – or 12.8% – earned the rating of “outstanding,” according to information released Thursday by […]
Changes in disclosure provisions for open-end and closed-end loan products to provide examples of replacement indices for a widely used reference rate whose use is expected to be discontinued after 2021 was proposed by the […]
The Consumer Financial Protection Bureau (CFPB) is providing temporary, targeted flexibility during the coronavirus (COVID-19) pandemic for credit card issuers regarding the electronic provision of certain disclosures under truth-in-lending laws that are required to be […]
All U.S. states will be able to have at least two cities or counties eligible to directly issue notes to the Federal Reserve’s Municipal Liquidity Facility (MLF), regardless of population, under changes expanding eligibility announced […]
Summary of deposits survey responses – which gauge the level of branch office deposits as of mid-year for banks and savings associations – are due by July 31, the federal insurer of bank deposits said […]
State loan-to-deposit ratios for 2020 are now public, replacing last year’s ratios, to help to determine whether a bank may establish or buy a branch (or branches) without triggering prohibitions on doing so primarily for […]
No error arises under the remittance rule (contained in Regulation E) when funds aren’t delivered on time because of certain government-mandated closures of commercial activity – that is the gist of a set of three […]
Prime institution money market funds sponsored by bank holding companies (BHCs) are essentially different from similar funds not offered by banks because the banking firms can extend “shadow insurance” to their ailing funds, according to […]
A consent order between the consumer financial protection agency and affiliated payday and auto-title lenders working in eight states imposes a judgment of about $3.5 million in consumer redress, but the settlement announced Tuesday provides […]
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