President Trump Approves Major Disaster Declaration for Illinois
FEMA announced that federal emergency aid has been made available for the state of Illinois to supplement the state, tribes and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on Jan. 20, 2020 and continuing. The President’s action makes federal funding available for Crisis Counseling for affected individuals…
FEMA: President Trump Approves Major Disaster Declaration for New Jersey
FEMA announced that federal emergency aid has been made available for the state of New Jersey to supplement the state and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020, and continuing. The President’s action makes federal funding available for Crisis Counseling for affected individuals…
FEMA: Assistance for Tribal Governments Regarding Coronavirus
Based on the President’s nationwide emergency declaration for the coronavirus (COVID-19) pandemic on March 13, 2020, tribal governments have the option to request Public Assistance from FEMA as either a Recipient or Subrecipient. This fact sheet provides additional information about the assistance FEMA can provide to tribal governments as either Recipients or Subrecipients during the…
FDIC: Temporary Alternative Procedures for Sending Supervision-Related Mail and Email to the FDIC
Printable Format: FIL-27-2020 – PDF (PDF Help) Summary: During this period of national emergency, the FDIC is encouraging financial institutions and other parties to use alternative procedures to send the agency official mail related to supervisory matters and to use secure email to send official supervisory correspondence. Statement of Applicability to Institutions with Total Assets under…
FDIC: 30-Day Grace Period Announced for the Call Report for First Quarter of 2020
Printable Format: FIL-28-2020 – PDF (PDF Help) Summary: On March 25, 2020, the FDIC, along with the other federal banking agencies that are members of the Federal Financial Institutions Examination Council (FFIEC), issued a press release recognizing that financial institutions may need additional time to submit certain regulatory reports in light of the adverse effects of…
FDIC: Chairman Addresses FSOC; Underscores Banks and Deposits Remain Safe
Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams today addressed the Financial Stability Oversight Council (FSOC), highlighting the agency’s ongoing efforts to provide the necessary flexibility to both banks and their customers in response to the coronavirus (COVID-19) pandemic. “I want to underscore that our banks are safe,” said Chairman McWilliams. “Your FDIC-insured deposits are…
Federal Reserve: Regulatory Reporting Relief Offered to Small Financial Institutions Affected by the Coronavirus
The Federal Reserve recognizes that small financial institutions may need additional time to submit certain regulatory reports in light of staffing priorities and disruptions caused by the Coronavirus Disease 2019 (COVID-19). The Federal Reserve will not take action against a financial institution with $5 billion or less in total assets for submitting its March 31,…
OCC: Statement of the Comptroller of the Currency on the Condition of the Federal Banking System and the Response to COVID-19
Comptroller of the Currency Joseph M. Otting made the following statement during today’s Financial Stability Oversight Council meeting regarding the condition of the federal banking system and its response to the COVID-19 national emergency. Thank you, Mr. Secretary, for convening FSOC and the work done by the staff. We also appreciate your leadership as our…
Federal Agencies Encourage Banks, Savings Associations and Credit Unions to Offer Responsible Small-Dollar Loans to Consumers and Small Businesses Affected by COVID-19
Five federal financial regulatory agencies today issued a joint statement encouraging banks, savings associations, and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19. The statement of the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration,…
CFPB: Agency Provides Flexibility During COVID-19 Pandemic
The Consumer Financial Protection Bureau (Bureau) today announced that it is providing needed flexibility to enable financial companies to work with customers in need as they respond to the COVID-19 pandemic. The Bureau is postponing some data collections from industry on Bureau-related rules to allow companies to focus on responding to consumers in need and…