In response to the global COVID-19 crisis, US financial regulators at the state level are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global economy. In addition, state and local governments are taking other public health focused actions in response to the crisis with important implications for the financial services sector. Our summary of recent, notable regulatory actions in key jurisdictions follows....

Governor Newsom Announces Additional Relief for Californians Impacted by COVID-19 Governor Gavin Newsom announced that most private student loan servicers have agreed to provide payment and other relief to borrowers, including more than 1.1 million Californians with privately held student loans. Under the new initiative by California and other states, students with commercially owned Federal Family Education Loan or privately held student loans who are struggling to make payments due to the COVID-19 pandemic may also be eligible for expanded relief....