Capturing the important news of the day in an easy to access way. We post news we feel is relevant to our members and community banks nationwide.
Whitelist [email protected] to ensure that you receive your update email.
If you’re still having difficulties receiving this Daily Email Campaign, please contact us at once through [email protected].
Small Business Administration (SBA) and U.S. Department of Treasury Announce Availability of New Paycheck Protection Program Loans
April 28, 2020 / Source: FDIC
Financial Institution Letters FIL-50-2020 April 25, 2020 Small Business Administration (SBA) and U.S. Department of Treasury Announce Availability of New Paycheck Protection Program Loans Printable Format: FIL-50-2020 – PDF (PDF Help) Summary: The Small Business Administration (SBA) together with the U.S. Department of Treasury announced on April 24, 2020 that the SBA will resume taking applications…
Credit Administration: Documentation of SBA Paycheck Protection Program Loans
April 28, 2020 / Source: OCC
OCC Bulletin 2020-44| April 25, 2020 Credit Administration: Documentation of SBA Paycheck Protection Program Loans 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 the Comptroller of the Currency (OCC) is encouraging banks1 providing loans under the…
No Lump Sum Required at the End of Forbearance
April 27, 2020 / Source: FHFA
News Release “No Lump Sum Required at the End of Forbearance” says FHFA’s Calabria FOR IMMEDIATE RELEASE 4/27/2020 Washington, D.C. – To combat ongoing misinformation, the Federal Housing Finance Agency (FHFA) reiterated that borrowers in forbearance with a Fannie Mae or Freddie Mac (the Enterprises)-backed mortgage are not required to repay the missed payments in one…
FDIC Makes Public March Enforcement Actions
April 24, 2020 / Source: FDIC
Press Releases FDIC Makes Public March Enforcement Actions; No Administrative Hearings Scheduled for May 2020 FOR IMMEDIATE RELEASE April 24, 2020 Media Contact: Julianne Fisher Breitbeil 202-898-6895 [email protected] The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in March 2020. There are no…
Federal Reserve Board announces interim final rule to delete the six-per-month limit on convenient transfers from the “savings deposit” definition in Regulation D
April 24, 2020 / Source: FRB
Federal Reserve Board announces interim final rule to delete the six-per-month limit on convenient transfers from the “savings deposit” definition in Regulation D The Federal Reserve Board on Friday announced an interim final rule to amend Regulation D (Reserve Requirements of Depository Institutions) to delete the six-per-month limit on convenient transfers from the “savings deposit”…
The State of Nacha and ACH
April 23, 2020 / Source: NACHA
The State of Nacha and ACH Life really can—and does—change in the blink of an eye. Not long ago, we created a video that we were excited to share at Smarter Faster Payments 2020. Unfortunately, that wasn’t possible. But at Nacha we’re nothing if not nimble. In fact, Nacha’s Core Values make clear that we…
Mortgage Rates Increase Slightly
April 23, 2020 / Source: FHLMC
Mortgage Rates Increase Slightly Supporting Materials: Primary Mortgage Market Survey® PDF Version MCLEAN, Va., April 23, 2020 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.33 percent, up slightly from last week. “Mortgage rates have stabilized over the last few weeks…
FHFA Supports Small Business by Allowing Federal Home Loan Banks to Accept Paycheck Protection Program Loans as Collateral
April 23, 2020 / Source: FHFA
News Release FHFA Supports Small Business by Allowing Federal Home Loan Banks to Accept Paycheck Protection Program Loans as Collateral FOR IMMEDIATE RELEASE 4/23/2020 Washington, D.C. – To support small and community banks, the Federal Housing Finance Agency announced that Federal Home Loan Banks (FHLBanks) can accept Paycheck Protection Program (PPP) loans as collateral when making loans,…
Banker Webinar: How to Become a Paycheck Protection Program (PPP) Lender
April 22, 2020 / Source: FDIC
Financial Institution Letters FIL-49-2020 April 22, 2020 Banker Webinar: How to Become a Paycheck Protection Program (PPP) Lender Printable Format: FIL-49-2020 – PDF (PDF Help) Summary: The FDIC, the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency, and the National Credit Union Administration (the agencies) will host a webinar…
Technical Corrections to the Revised Transition of the Current Expected Credit Losses Methodology for Allowances
April 22, 2020 / Source: FDIC
Financial Institution Letters FIL-48-2020 April 22, 2020 Technical Corrections to the Revised Transition of the Current Expected Credit Losses Methodology for Allowances Printable Format: FIL-48-2020 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Board of Governors of the Federal Reserve System (the agencies) published a technical…
FHFA Announces that Enterprises will Purchase Qualified Loans in Forbearance to Keep Lending Flowing
April 22, 2020 / Source: FHFA
FHFA Announces that Enterprises will Purchase Qualified Loans in Forbearance to Keep Lending Flowing FOR IMMEDIATE RELEASE 4/22/2020 Washington, D.C. – To support homeowners and mortgage lenders, the Federal Housing Finance Agency (FHFA) is approving the purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria by Fannie Mae and Freddie Mac (the Enterprises). “We…
Media Advisory: Consumer Financial Protection Bureau Releases Video for Non-Filers on Economic Impact Payments
April 21, 2020 / Source: CFPB
Media Advisory: Consumer Financial Protection Bureau Releases Video for Non-Filers on Economic Impact Payments WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) has released a video outlining the steps that non-filers need to take in order to receive their economic impact payments authorized by the CARES Act. Additionally, the Bureau published a blog with FAQs…
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Mississippi Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding
April 21, 2020 / Source: FDIC
Financial Institution Letters FIL-47-2020 April 21, 2020 Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Mississippi Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding Printable Format: FIL-47-2020 – PDF (PDF Help) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate…
The Office of Foreign Assets Control (OFAC) Encourages Persons to Communicate OFAC Compliance Concerns Related to the Coronavirus Disease 2019 (COVID-19)
April 20, 2020 / Source: OFAC
The Office of Foreign Assets Control (OFAC) Encourages Persons to Communicate OFAC Compliance Concerns Related to the Coronavirus Disease 2019 (COVID-19) 4/20/2020 On March 13, 2020, President Trump declared a National Emergency in response to COVID-19. On April 16, 2020, OFAC published a fact sheet that summarizes existing exemptions and authorizations to provide humanitarian assistance in the context of…
Consumer Financial Protection Bureau Advisory Committees to Meet on May 1, 2020
April 20, 2020 / Source: CFPB
Consumer Financial Protection Bureau Advisory Committees to Meet on May 1, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) announced today that the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), the Credit Union Advisory Council (CUAC), and the Academic Research Council (ARC) will meet jointly on May 1st from 2:00 to 4:15…
Banker Webinar: Revised Statement on Loan Modifications and Reporting for Institutions Working with Customers Affected by the Coronavirus
April 17, 2020 / Source: FDIC
Financial Institution Letters FIL-46-2020 April 16, 2020 Banker Webinar: Revised Statement on Loan Modifications and Reporting for Institutions Working with Customers Affected by the Coronavirus Printable Format: FIL-46-2020 – PDF (PDF Help) Summary: The FDIC, Board of Governors of the Federal Reserve, Office of the Comptroller of the Currency, and National Credit Union Administration (the agencies)…
Statement from Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Success of the Paycheck Protection Program
April 17, 2020 / Source: Treasury
Statement from Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Success of the Paycheck Protection Program Release Date: Friday, April 17, 2020 Release Number: 20-33 Contact: [email protected], (202) 205-7036 WASHINGTON – Today, U.S. Small Business Administration Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement regarding the success of…
Federal Reserve Board announces rule change to bolster the effectiveness of the Small Business Administration’s Paycheck Protection Program
April 17, 2020 / Source: FRB
Press Release April 17, 2020 Federal Reserve Board announces rule change to bolster the effectiveness of the Small Business Administration's Paycheck Protection Program The Federal Reserve Board on Friday announced a rule change to bolster the effectiveness of the Small Business Administration's (SBA) Paycheck Protection Program (PPP). The change will temporarily modify the Board's rules…
FDIC to Postpone Effort to Modernize Agency’s Signage & Advertising Requirements
April 17, 2020 / Source: FDIC
Press Releases FDIC to Postpone Effort to Modernize Agency's Signage & Advertising Requirements FOR IMMEDIATE RELEASE April 16, 2020 Media contact: Brian Sullivan (202) 898-6534 [email protected] WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced it will temporarily postpone its efforts to modify its signage and advertising requirements. The agency remains committed to modernizing…
Financial help for servicemembers affected by the coronavirus
April 16, 2020 / Source: CFPB
Financial help for servicemembers affected by the coronavirus By Nelson Akeredolu – APR 15, 2020 As the public health crisis posed by COVID-19 worsens, many Americans across the country are experiencing significant financial shock. Servicemembers, veterans, and military families are no exception. Although veterans will continue to receive their benefits and active-duty servicemembers will continue to receive their…
FFIEC Announces Federal Disclosure Computational Tools
April 16, 2020 / Source: FFIEC
Press Release For Immediate Release April 16, 2020 FFIEC Announces Federal Disclosure Computational Tools The Federal Financial Institutions Examination Council (FFIEC), on behalf of its member agencies, today announced the availability of FFIEC Federal Disclosure Computational Tools, including the Annual Percentage Rate (APR) Computational Tool and the Annual Percentage Yield (APY) Computational Tool….
Federal Reserve Board issues enforcement actions with Amboy Bank and Bank of Clarke County
April 16, 2020 / Source: FRB
Press Release April 16, 2020 Federal Reserve Board issues enforcement actions with Amboy Bank and Bank of Clarke County For release at 11:00 a.m. EDT The Federal Reserve Board on Thursday announced the execution of the enforcement actions listed below: Amboy Bank, Old Bridge, New Jersey Flood insurance violations civil money penalty, dated April 14,…
Federal Reserve announces its Paycheck Protection Program Liquidity Facility is fully operational and available to provide liquidity to eligible financial institutions
April 16, 2020 / Source: FRB
Press Release April 16, 2020 Federal Reserve announces its Paycheck Protection Program Liquidity Facility is fully operational and available to provide liquidity to eligible financial institutions For release at 9:00 a.m. EDT The Federal Reserve on Thursday announced that its Paycheck Protection Program Liquidity Facility is fully operational and available to provide liquidity to eligible…
Consumer Financial Protection Bureau Issues Final Rule Raising Data Reporting Thresholds Under the Home Mortgage Disclosure Act
April 16, 2020 / Source: CFPB
Consumer Financial Protection Bureau Issues Final Rule Raising Data Reporting Thresholds Under the Home Mortgage Disclosure Act APR 16, 2020 WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued a final rule raising the loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act (HMDA). The final rule, amending Regulation C,…
Federal and State Regulators Release Updates to BSA/AML Examination Manual
April 15, 2020 / Source: FFIEC
Press Release For Immediate Release April 15, 2020 Federal and State Regulators Release Updates to BSA/AML Examination Manual The Federal Financial Institutions Examination Council (FFIEC) today released several updates to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examination manual. The manual is used to evaluate compliance with the Bank Secrecy Act and anti-money laundering…