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Paycheck Protection Program Frequently Asked Questions
April 14, 2020 / Source: FINCEN
Paycheck Protection Program Frequently Asked Questions Paycheck_Protection_Program_FAQs.pdf Immediate Release April 13, 2020
OCC Announces Paycheck Protection Program Listening Sessions
April 14, 2020 / Source: OCC
News Release 2020-53 | April 14, 2020 OCC Announces Paycheck Protection Program Listening Sessions The Office of the Comptroller of the Currency (OCC) today announced that its Office of Innovation will host three listening sessions on April 16, 20, and 21, to discuss issues and potential solutions relating to the Paycheck Protection Program (PPP) as established by the Coronavirus Aid, Relief,…
Consumer Financial Protection Bureau Paves Way for Consumers to Receive Economic Impact Payments Quicker
April 13, 2020 / Source: CFPB
Consumer Financial Protection Bureau Paves Way for Consumers to Receive Economic Impact Payments Quicker APR 13, 2020 WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) took steps to make it easier for consumers to receive pandemic-relief payments, including the economic impact payments authorized in the CARES Act, through prepaid accounts. Federal, State, and…
Freddie Mac Quarterly Forecast: The Housing Market Faces Challenges Amid Economic Uncertainty
April 13, 2020 / Source: FHLMC
Freddie Mac Quarterly Forecast: The Housing Market Faces Challenges Amid Economic Uncertainty PDF Version MCLEAN, Va., April 13, 2020 (GLOBE NEWSWIRE) — According to Freddie Mac’s (OTCQB: FMCC) Quarterly Forecast, housing markets will deviate from their typical spring surge with both home sales and house prices falling due to the COVID-19 pandemic. “Undoubtedly, the housing market is facing…
Consumer Financial Protection Bureau Announces Guidance on Remittance Transfers During COVID-19 Pandemic
April 13, 2020 / Source: CFPB
Consumer Financial Protection Bureau Announces Guidance on Remittance Transfers During COVID-19 Pandemic APR 10, 2020 WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) took steps to ensure that consumers will be able to continue to send remittance transfers without disruption during the COVID-19 pandemic. The pandemic is having a significant impact on consumers’ finances,…
Banker Webinar: New Transition Provision to Delay the Impact of CECL on Regulatory Capital for Institutions Required to Adopt CECL in 2020
April 10, 2020 / Source: FDIC
Financial Institution Letters FIL-41-2020 April 10, 2020 Banker Webinar: New Transition Provision to Delay the Impact of CECL on Regulatory Capital for Institutions Required to Adopt CECL in 2020 Printable Format: FIL-41-2020 – PDF (PDF Help) Summary: The FDIC, the Board of Governors of the Federal Reserve, and the Office of the Comptroller of the Currency…
Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to COVID-19 and the CARES Act
April 10, 2020 / Source: FDIC
Financial Institution Letters FIL-40-2020 April 10, 2020 Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to COVID-19 and the CARES Act Printable Format: FIL-40-2020 – PDF (PDF Help) Summary: The FDIC, the Consumer Financial Protection Bureau, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency,…
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oregon Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding
April 10, 2020 / Source: FDIC
Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oregon Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding Printable Format: FIL-42-2020 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Oregon affected by…
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oregon Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding
April 10, 2020 / Source: FDIC
Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oregon Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding Printable Format: FIL-42-2020 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Oregon affected by…
The FDIC’s Readiness for Crises
April 10, 2020 / Source: FDIC OIG
The FDIC’s Readiness for Crises Thursday, April 9, 2020 The Office of Inspector General (OIG) of the Federal Deposit Insurance Corporation (FDIC) issued its report on the FDIC’s Readiness for Crises. We initiated this evaluation in 2018, and it covered the FDIC’s readiness planning and preparedness activities up to early 2019. Our work was not…
Consolidated Reports of Condition and Income for First Quarter 2020
April 10, 2020 / Source: FDIC
Federal Deposit Insurance Corporation Office of the Comptroller of the Currency Board of Governors of the Federal Reserve System FIL-39-2020 April 9, 2020 Printable Format: FIL-39-2020 – PDF (PDF Help) DEPOSITORY INSTITUTION REPORTS TO: CHIEF EXECUTIVE OFFICER SUBJECT: Consolidated Reports of Condition and Income for First Quarter 2020 The attached materials pertain to the Consolidated Reports…
Capital-related Revisions to the Consolidated Reports of Condition and Income (Call Report) and the FFIEC 101 Report
April 10, 2020 / Source: FDIC
FIL-38-2020 April 9, 2020 Printable Format: FIL-38-2020 – PDF (PDF Help) DEPOSITORY INSTITUTION REPORTS TO: CHIEF EXECUTIVE OFFICER (also of interest to Chief Financial Officer) SUBJECT: Capital-related Revisions to the Consolidated Reports of Condition and Income (Call Report) and the FFIEC 101 Report In March…
Federal Reserve takes additional actions to provide up to $2.3 trillion in loans to support the economy
April 9, 2020 / Source: FRB
Press Release April 09, 2020 Federal Reserve takes additional actions to provide up to $2.3 trillion in loans to support the economy For release at 8:30 a.m. EDT The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers…
Federal Bank Regulators Issue Interim Final Rule for Paycheck Protection Program Facility
April 9, 2020 / Source: FDIC
Press Releases Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For Immediate Release April 9, 2020 Federal Bank Regulators Issue Interim Final Rule for Paycheck Protection Program Facility The federal bank regulatory agencies today announced an interim final rule to encourage lending…
Federal Reserve Board announces, due to the extraordinary disruptions from the coronavirus, that it will temporarily and narrowly modify the growth restriction on Wells Fargo so that it can provide ad
April 8, 2020 / Source: FRB
Press Release April 08, 2020 Federal Reserve Board announces, due to the extraordinary disruptions from the coronavirus, that it will temporarily and narrowly modify the growth restriction on Wells Fargo so that it can provide additional support to small businesses For release at 11:30 a.m. EDT Share Due to the extraordinary disruptions from the coronavirus,…
McConnell Statement on Additional Funding for Paycheck Protection Program
April 8, 2020 / Source: Republican Leader
04.07.20 McConnell Statement on Additional Funding for Paycheck Protection Program ‘Even as the CARES Act continues to come online, one such need is already clear: The small-business Paycheck Protection Program needs more funding. This bold legislation from Chairman Marco Rubio, Chairman Susan Collins, Senator Ben Cardin, and Senator Jeanne Shaheen is providing emergency liquidity to…
Bank Secrecy Act/Anti-Money Laundering:Â OCC Supports FinCEN’s Regulatory Relief and Risk-Based Approach for Financial Institution Compliance in Response to COVID-19
April 7, 2020 / Source: OCC
OCC Bulletin 2020-34| April 7, 2020 Bank Secrecy Act/Anti-Money Laundering: OCC Supports FinCEN’s Regulatory Relief and Risk-Based Approach for Financial Institution Compliance in Response to COVID-19 To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of…
Agencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus
April 7, 2020 / Source: OCC
News Release 2020-50 | April 7, 2020 Agencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus Joint Release Board of Governors of the Federal Reserve System Consumer Financial Protection Bureau Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency The federal financial institution…
Federal Reserve will establish a facility to facilitate lending to small businesses via the Small Business Administration’s Paycheck Protection Program (PPP) by providing term financing backed by PPP
April 6, 2020 / Source: FRB
Press Release April 06, 2020 Federal Reserve will establish a facility to facilitate lending to small businesses via the Small Business Administration's Paycheck Protection Program (PPP) by providing term financing backed by PPP loans For release at 2:00 p.m. EDT Share To facilitate lending to small businesses via the Small Business Administration's Paycheck Protection Program…
Agencies announce changes to the community bank leverage ratio
April 6, 2020 / Source: Federal Reserve
April 06, 2020 Agencies announce changes to the community bank leverage ratio The federal bank regulatory agencies today announced the issuance of two interim final rules to provide temporary relief to community banking organizations. The agencies are acting to implement Section 4012 of the Coronavirus Aid, Relief, and Economic Security Act, which requires the…
The Financial Crimes Enforcement Network Provides Further Information to Financial Institutions in Response to the Coronavirus Disease 2019 (COVID-19) Pandemic
April 3, 2020 / Source: FinCEN
The Financial Crimes Enforcement Network Provides Further Information to Financial Institutions in Response to the Coronavirus Disease 2019 (COVID-19) Pandemic Immediate Release April 03, 2020 This notice updates the Financial Crimes Enforcement Network’s (FinCEN’s) March 16, 2020 COVID-19 Notice,[1] provides additional information to assist financial institutions in complying with their Bank Secrecy Act (BSA) obligations during…
Media Advisory: Consumer Financial Protection Bureau Releases Video on How Mortgage Forbearance Works Under CARES Act
April 3, 2020 / Source: CFPB
Media Advisory: Consumer Financial Protection Bureau Releases Video on How Mortgage Forbearance Works Under CARES Act APR 03, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) has released a video on how struggling homeowners can obtain mortgage forbearance if their finances are impacted due to the COVID-19 pandemic. The Bureau has also issued additional…
FDIC Extends Comment Period on Modernizing Brokered Deposit Restrictions
April 3, 2020 / Source: FDIC
Press Releases FDIC Extends Comment Period on Modernizing Brokered Deposit Restrictions FOR IMMEDIATE RELEASE April 3, 2020 Media contact: Brian Sullivan (202) 898-6534 [email protected] WASHINGTON – In light of the challenges associated with COVID-19, the Federal Deposit Insurance Corporation (FDIC) today announced that it will extend the public comment period for its proposed rule to…
April 3, 2020: FDIC Issues List of Banks Examined for CRA Compliance
April 3, 2020 / Source: FDIC
Press Releases FDIC Issues List of Banks Examined for CRA Compliance FOR IMMEDIATE RELEASE April 3, 2020 Media Contact: David Barr Office: (202) 898-6992 Cell: (703) 622-4790 [email protected] The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers…