The CFPB and state attorneys general of New York, Massachusetts and Virginia jointly sued a company and its owners for alleged predatory lending practices that primarily targeted non-English speaking immigrants.
The Federal Reserve Board adopted a final rule that expands the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991.
The Federal Reserve Board adopted an interim final rule to extend certain exceptions under the Paycheck Protection Program to allow bank executive officers, directors and principal shareholders to apply for loans from related bank affiliates on behalf of the small businesses they own.
A CFPB final rule to provide certain insured depository institutions and credit unions with an exemption from establishing escrow accounts for higher-priced mortgage loans was published in the Federal Register.
An OCC, Federal Reserve Board, FDIC, National Credit Union Administration and CFPB final rule that codifies a 2018 Interagency Statement Clarifying the Role of Supervisory Guidance was published in the Federal Register.
In a Treasury hosted U.S. Financial Sector Innovation Policy Roundtable, policymakers, regulators and private sector experts discussed how innovations can eliminate redundancies, reduce costs, combat illicit use and promote financial inclusion.
A final rule promulgated by the OCC, Federal Reserve Board and FDIC that implements a net stable funding ratio requirement for certain large U.S. banking organizations was published in the Federal Register.
In an industry letter, the New York State Department of Financial Services stated that banking institutions that are subject to the New York Community Reinvestment Act may receive credit for financing climate resiliency projects in low- and moderate-income communities.
The Federal Reserve Board adopted an interim final rule to further extend an exception for bank executive officers, directors and principal shareholders to apply for Paycheck Protection Program loans from related bank affiliates on behalf of small businesses they own.
A Federal Reserve Board final rule to conform the capital planning, regulatory reporting and stress capital buffer requirements to those under the Federal Reserve Board's October 2019 prudential standards framework was published in the Federal Register.