Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and small businesses.
Organizations and firms are donating N95 masks, providing resources at no cost and taking steps to protect employees and practices nationwide from the spreading pandemic.
The U.S. Treasury is talking to digital payments providers about quick ways to disburse funds to recipients of stimulus checks within a couple of weeks, but payments industry experts foresee troubling security issues even with most of the obvious options.
The 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.
Only a firm “actively swindling funds” would trigger an onsite visit, according to Peter Driscoll.
The spread of coronavirus requires employers to consider regulations that might not have applied before, and makes a strong case for teleworking.
If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all.
There are several forbearance measures the agencies can take now to keep banks from failing in a downturn triggered by the coronavirus.
The National Credit Union Administration also ordered its own employees to work from home until at least the end of March.
As the health crisis upends the United States, credit union trade groups have called for lawmakers and regulators to provide relief for institutions dealing with the pandemic's impact.