The FDIC released guidance this week with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas affected by Hurricane Beryl. 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 said banks may receive favorable Community Reinvestment Act consideration for community development loans, investments and services in support of disaster recovery. The FDIC also will consider regulatory relief from certain filing and publishing requirements.
Democratic senators introduce bill to lower credit card late fee cap
Three Democratic senators have introduced legislation to revive a Biden-era rule that would lower the cap on credit card late fees to $8.
