Consumer Protection and Safety and Soundness Perspective of Credit Union Regulation - The Consumer Finance Podcast
In This Issue. The Securities and Exchange Commission’s (SEC) Division of Investment Management provided notice that it would terminate or withdraw certain temporary relief provided in response to the COVID-19 pandemic; the...more
HUD, VA, and USDA Coordinate Extensions of COVID-19 Relief for Homeowners - The U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture...more
SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more
Certain provisions of the CARES Act provided community banks breathing room while they worked to facilitate the badly needed economic recovery, including the following: - Temporarily reducing the Community Bank Leverage...more
What makes the current economic crisis unique is that it is systemic. Despite businesses historically being well managed, not being overly leveraged, innovating in the marketplace and not facing a large litigation judgment,...more
While it is too early to quantify the impact of the COVID-19 pandemic on the US banking sector, its influence is already being felt with recent announcements by US banking regulators and the Financial Accounting Standards...more
On April 14, 2020, the US federal banking regulators held a webinar to provide further guidance on relief from the effect of the current expected credit losses methodology (“CECL”) on regulatory capital....more
The Federal Reserve has established a number of programs to provide targeted support to the corporate credit, asset-backed securities, money market and commercial paper markets in light of the evolving coronavirus disease...more
The three US federal banking agencies continue to take additional steps to promote the functioning of the financial system in the face of the pandemic. The three US federal banking agencies - the Board of Governors of the...more
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted late last week. Designed to provide emergency economic assistance to businesses, families, and individuals, the CARES Act also...more