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…
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…
Federal Reserve: Additional Information Provided to Financial Institutions on How Supervisory Approach Is Adjusted in Light of Coronavirus
The Federal Reserve Board on Tuesday provided additional information to financial institutions on how its supervisory approach is adjusting in light of the coronavirus. In particular: The Federal Reserve will focus on monitoring and outreach to help financial institutions of all sizes understand the challenges and risks of the current environment; To minimize disruption and…
FDIC: Steps Announced to Protect Banks and Consumers and to Continue Operations
Given ongoing developments related to the coronavirus, the FDIC today announced the following steps to ensure the health and safety of its workforce and the continuity of its operations: Consistent with recent guidance from the Office of Management and Budget, and out of concern for the health of staff that would have been required to participate…
CFPB: Key Steps to Prevent Consumer Harm Announced Including Proposed Whistleblower Award Program
The Consumer Financial Protection Bureau (Bureau) today announced three steps to advance its strategy on one of its key priorities: preventing consumer harm. The Bureau is: Implementing an advisory opinion program to provide clear guidance to assist companies in better understanding their legal and regulatory obligations through advisory opinions; Amending and reissuing its responsible business…