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.
The CFTC Division of Swap Dealer and Intermediary Oversight extended temporary no-action relief from July 23, 2020 to September 30, 2020 to principals and associated persons from rules requiring a fingerprint card when registering with the Commission.
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.
The DOJ filed charges against the owner of two companies in Florida that provide Medicare services for submitting false and fraudulent claims in order to receive (i) reimbursement from Medicare and (ii) loans from the Paycheck Protection Program.
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 New York Department of Financial Services reminded banking institutions of recent amendments to the New York Community Reinvestment Act that require additional information on activities with respect to minority- and women-owned businesses.