Latest actions by federal financial institution regulators related to the impact of the 2020 coronavirus crisis
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 […]
A tech sprint to tackle housing insecurity as state and federal COVID-19 eviction and foreclosure protections near their end will be led jointly by the Consumer Financial Protection Bureau (CFPB) and Department of Housing and […]
Feedback from banks and thrifts on the federal bank deposit insurer’s supervisory approach to examinations during the COVID-19 pandemic is sought in a request for information (RFI) noted Friday in an agency Financial Institution Letter […]
Credit card account limits declined overall during the pandemic – the largest declines being for high-credit-score borrowers – though a spike in account closures early in the pandemic began a decline after May 2020 that […]
An online tool aimed at helping renters and landlords affected by the COVID-19 pandemic find and apply for payment or assistance for rent, utilities, and other expenses was unveiled Wednesday by the federal agency charged […]
The public portions of resolution plans (also known as “living wills”) submitted July 1 by eight large domestic banking firms – and targeted to address the institutions’ response to events surrounding the COVID-19 pandemic – […]
The “first phase” in the agency’s plan to resume onsite operations will begin July 19 at the National Credit Union Administration (NCUA), with staff and contractors permitted to volunteer to work onsite in locations where […]
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