7 Min ReadThe agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.
2 Min ReadThe reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.
2 Min ReadThe joint statement said examiners will not impede banks’ responsible efforts to offer open lines of credit, closed-installment loans or other products to borrowers dealing with fallout from the pandemic.
5 Min ReadThe COVID-19 pandemic has already given rise to false marketing of test kits and criminals impersonating the FDIC. Consumer advocates say the bureau could issue alerts as well as empower banks to help safeguard their customers’ funds.
1 Min ReadAccommodations for borrowers affected by the coronavirus pandemic, such as payment delays and fee waivers, are "positive and proactive actions that can manage or mitigate adverse impacts," the regulators said.
1 Min ReadThe Ohio Democrat argued that the public wouldn't be able to meaningfully provide feedback on rules given the stressful circumstances related to the outbreak.
7 Min ReadThe pandemic has upended staffing plans, sparked concerns about servicers’ capacity to handle the expected crush of missed payments, and even raised questions about their ability to stay afloat.
4 Min ReadThe agencies were up and running Monday but have taken steps to allow employees to work from home.
6 Min ReadKathy Kraninger was grilled about whether her agency and others were doing enough to cushion consumers from the economic blow of the coronavirus crisis.
2 Min ReadState and federal officials committed to providing “appropriate regulatory assistance” to banks whose customers may be hurt by the coronavirus outbreak and said prudent measures would not be subject to criticism by examiners.
