The OCC’s Community Developments Investments newsletter published today focuses on how banks can provide sustainable loan modifications and help reduce foreclosures. For example, the newsletter looks at how banks are engaging with the Treasury Department’s Hardest Hit Fund in California, Florida, Kentucky and North Carolina. It also reviews foreclosure prevention activities under the Community Reinvestment Act.
FinCEN issues guidance to help bank customers understand new BOI reporting rules
FinCEN issued a notice to financial institution customers about the new beneficial ownership information reporting rule requirements, explaining why certain customers must report directly to the agency in addition to giving information to their banks, which are subject...