The Federal Financial Institutions Examination Council encouraged financial institutions to ease pressure on borrowers as initial loan accommodations in response to the COVID-19 pandemic near their end.
FinCEN alerted financial institutions to indicators of COVID-19-related cybercrime. The alert concerns (i) the exploitation of remote platforms, particularly against financial and healthcare systems, (ii) phishing, malware and extortion schemes, and (iii) business email compromise fraud.
At a meeting of the CFTC Technology Advisory Committee, industry representatives considered presentations on automated and modern trading markets, distributed ledger technology and market infrastructure, virtual currencies, and cybersecurity.
At a hearing titled "Protecting Homeowners during the Pandemic: Oversight of Mortgage Servicers' Implementation of the CARES Act," the House Financial Services Subcommittee on Oversight and Investigations considered CARES Act mortgage servicer implementation issues and economic inequity.
Federal Reserve Bank of New York Executive Vice President Daleep Singh reviewed the actions taken by the Federal Reserve Board to provide emergency credit and liquidity in order to safeguard the economy during the COVID-19 pandemic.
The Federal Reserve Board found the 2020 Dodd-Frank stress test results demonstrate that, despite suffering substantial losses under a "severely adverse" scenario, large banks " could continue lending to businesses and households."