Discrimination and Bias in Residential Lending
The Importance of Assessment Areas
At the onset of the pandemic, many financial institutions offered credit accommodations, such as short-term deferrals and other loan modifications, to borrowers in response to the significant adverse impact caused by...more
On August 3, 2020, the Federal Financial Institutions Examination Council1 (FFIEC) issued a new joint statement of principles for banks to consider while working with their loan customers as the end of COVID-19 initial loan...more
On August 3, 2020, the Federal Financial Institutions Examination Council (FFIEC) issued a Joint Statement on Additional Loan Accommodations Related to COVID-19 regarding loans that are near the end of an initial loan...more
As the coronavirus (COVID-19) pandemic continues, loan accommodation periods first instituted under the CARES Act in the spring are beginning to expire. Our Financial Services & Products Group analyzes the latest guidance...more
On August 3, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) issued a joint statement to provide prudent risk management and consumer protection principles for financial institutions to consider when...more
The Federal Reserve’s (Fed) $600 billion Main Street Lending Program recently launched the latest of several market interventions aimed at cushioning some of the economic damage wrought by the coronavirus. The program aims to...more
On February 1, 2016, the Federal Deposit Insurance Corporation (“FDIC”) published the Winter 2015 issue of Supervisory Insights. Not surprisingly, the first article dealt with the most important issue facing the financial...more