With many COVID-19-related accommodations for loans nearing their initial expiration dates, the Federal Financial Institutions Examination Council today issued a joint statement outlining prudent risk management and consumer protection principles for financial institutions to consider while working with affected borrowers.
In an extensive comment letter to the OCC today, the American Bankers Association offered feedback on a recent advance notice of proposed rulemaking on several issues related to digital technology and innovation.
The Financial Crimes Enforcement Network today published three frequently asked questions regarding customer due diligence requirements.
Construction spending fell 0.7% at a seasonally adjusted annual rate (SAAR) of $1,355.2 billion in…
The ISM Manufacturing Index registered 54.2 points in July, an increase of 1.6 percentage points…
In a comment letter filed today, ABA urged the CFPB to adopt more accurate and easily understandable disclosures related to time-barred debt–which is debt that has run past any applicable statue of limitations.
Along with a coalition of bank trade groups and consumer advocacy organizations, ABA today urged the House to pass S. 3841, which would protect 2020 economic impact payments made under the CARES Act or other legislation from court-ordered garnishment.
The American Bankers Association this week urged the Department of Labor to withdraw a proposal that would limit pension fiduciaries’ consideration of environmental, social and governance-related issues when selecting plan investments.
ABA joined a group of more than 480 trade groups representing a broad range of industries in a letter to Congress yesterday urging support for liability relief provisions included in S. 4317, the Safe to Work Act—the coronavirus bill released by Senate Republicans earlier this week.
The bill is expected to significantly reduce the paperwork burden for a vast majority of PPP borrowers.