The CFPB, Federal Reserve Board, FDIC, National Credit Union Administration and OCC clarified their compliance expectations for mortgage servicers on consumer communication requirements during the pandemic.
The Office of the Comptroller of the Currency proposed streamlining regulation for national banks and updating the regulatory framework for federal savings associations on "other real estate-owned" activities.
The Federal Reserve Board solicited feedback on whether to amend regulations on reserve requirements to lower the rate of interest paid on excessive balances maintained at FRB banks by eligible institutions.
The Federal Reserve Board, the Office of the Comptroller of the Currency, the FDIC, the Consumer Financial Protection Bureau, the National Credit Union Administration and the Conference of State Bank Supervisors encouraged financial institutions to work with consumers impacted by the federal government shutdown.
The Office of the Comptroller of the Currency updated the following booklets of the Comptroller's Handbook: "Bank Premises and Equipment," "Consigned Items and Other Customer Services," and "Litigation and Other Legal Matters."
U.S. "prudential regulators" adopted amendments to uncleared swap margin requirements. The amendments clarify that "legacy" swaps remain out of scope for margin rules if the trades are amended solely to comply with the new "QFC Rules."
The Secretary of the Treasury extended the compliance dates for regulations implementing qualified financial contract recordkeeping requirements for certain non-bank financial companies that may pose systemic risk.