Summing It Up

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Topic: Covid 19 Financial Institutions

PPP and Your FDIC Assessment
By Bruce Rumbold on May 13, 2020

The FDIC announced proposed rule-making yesterday to provide relief for potential increases in a bank’s FDIC deposit insurance assessment as a result of holding loans in the SBA’s Paycheck...

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Interim Final Rules for Bank Liquidity Coverage Ratios
By Bruce Rumbold on May 6, 2020

While we are all familiar with the Paycheck Protection Program (PPPLF - a loan facility created by the Federal Reserve under the CARES Act), the Federal Reserve Bank of Boston will...

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New Guidance Aims to Help Institutions and Consumers Navigate Mortgage Process Efficiently
By Bruce Rumbold on May 1, 2020

April 29, 2020 The CFPB has issued some new guidance surrounding mortgage originations. This guidance is designed to help both financial institutions and consumers get through the...

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Supervisory and Enforcement Practices Regarding the Fair Credit Reporting Act and Regulation C in Light of the CARES Act
By Freed Maxick on April 6, 2020

Consumer Financial Protection Bureau Guidance on Credit Reporting The Bureau’s statement informs lenders they must comply with...

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Counterparty Credit Risk and Current Expected Credit Losses (“CECL”)
By Freed Maxick on April 6, 2020

The federal bank regulatory agencies today announced two actions to support the U.S. economy and allow banking organizations...

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Banks, Savings Association and Credit Unions Encouraged to Offer Responsible Small Dollar Loan
By Freed Maxick on April 6, 2020

Five federal financial regulatory agencies today issued a joint statement encouraging banks, savings associations and credit...

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