The FDIC released guidance today with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Rhode Island and Maine affected by severe storms and flooding. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to severe weather, including extending repayment terms, restructuring existing loans or easing terms for new loans. The agency also said it would consider relief from certain filing and publishing requirements.
FinCEN to exempt U.S. companies from beneficial ownership reporting
FinCEN posted an interim final rule removing the requirement for U.S. companies and persons to report beneficial ownership information to the agency under the Corporate Transparency Act.