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[ July 10, 2020 ] Debt settlement, credit counseling report based on Great Recession offers glimpse of financial impact from 2020 pandemic CFPB
[ July 10, 2020 ] July 14 call to provide update on SBA programs, including PPP NCUA
[ July 10, 2020 ] FDIC slates July 28 meeting of its community banking advisory panel FDIC
[ July 10, 2020 ] No material differences in accounting, capital standards – just technical ones, regulators tell Congress FDIC
[ July 9, 2020 ] FDIC ends ShoreBank receivership FDIC

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Debt settlement, credit counseling report based on Great Recession offers glimpse of financial impact from 2020 pandemic

July 10, 2020 0

A record amount of $11.4 billion in debt settlements 10 years ago during the Great Recession may provide a road map of what’s to come in 2020 as the financial impact of the coronavirus crisis becomes more apparent, a report [...]
July 14 call to provide update on SBA programs, including PPP

July 10, 2020 0

Updates to the Small Business Administration’s (SBA) lending programs, including the Paycheck Protection Program implemented under the CARES Act, will be provided during a conference call slated for 3 p.m. ET next Tuesday, the federal credit union regulator said in [...]
FDIC slates July 28 meeting of its community banking advisory panel

July 10, 2020 0

The Federal Deposit Insurance Corp. (FDIC) Advisory Committee on Community Banking is slated to hold an open meeting July 28 from 1 to 5:30 p.m. ET, with the meeting – out of an abundance of caution due to the coronavirus [...]
No material differences in accounting, capital standards – just technical ones, regulators tell Congress

July 10, 2020 0

There are no material differences in accounting and capital standards applicable to the insured depository institutions they regulate and supervise, but there are some technical deviations, the federal banking agencies will say in their annual report to Congress, expected to [...]
FDIC ends ShoreBank receivership

July 9, 2020 0

The federal bank deposit insurer’s receivership of the defunct ShoreBank (Chicago) was terminated July 1, the agency said in a recent Federal Register notice. ShoreBank was closed by the Illinois Department of Financial and Professional Regulation in August 2010. At [...]
Bureau’s QM proposals set for Federal Register publication Friday; comments due early August, September

July 9, 2020 0

Two proposed rules aimed at addressing the pending expiration of the so-called “GSE patch” in the federal consumer financial protection agency’s qualified mortgage provisions of its Truth in Lending Act regulation are slated for publication Friday in the Federal Register. [...]
Fed terminates enforcement action with The Leaders Group Inc.

July 9, 2020 0

A consent order entered into in April 2011 between the Federal Reserve Board and The Leaders Group Inc. – a bank holding company that owns and controls The Leaders Bank (Oak Brook, Ill.) – was terminated July 1, the Fed [...]