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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 Â
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…
Beige Book – April 15, 2020
April 15, 2020 / Source: FRB
Beige Book – April 15, 2020 PDF Full ReportNational Summary This report was prepared at the Federal Reserve Bank of Boston based on information collected on or before April 6, 2020. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve officials.
Treasury, IRS unveil online application to help with Economic Impact Payments; Get My Payment allows people to provide direct deposit information and gives payment date
April 15, 2020 / Source: IRS
Treasury, IRS unveil online application to help with Economic Impact Payments; Get My Payment allows people to provide direct deposit information and gives payment date IR-2020-72, April 15, 2020 WASHINGTON – Working with the Treasury Department, the Internal Revenue Service today unveiled the new Get My Payment with features to let taxpayers check on their Economic…
Facilitating Real Estate-Related Transactions Affected by COVID-19
April 15, 2020 / Source: FDIC
Financial Institution Letters FIL-43-2020 April 14, 2020 Facilitating Real Estate-Related Transactions Affected by COVID-19 Printable Format: FIL-43-2020 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve System (collectively, the agencies) issued an interim final rule (IFR) that allows institutions…
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…