CISA Expands Roster of ‘Critical Infrastructure’ Jobs
The Cybersecurity and Infrastructure Security Agency on Saturday updated guidance, broadening the list of jobs deemed to be “essential critical infrastructure workers.”
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Student Debt Repayment Benefits Tax-Free Under CARES Act
Employers will be able to make tax-free contributions to their employees’ student debt, according to one provision of the recently enacted CARES Act.
Trump Signs Coronavirus Aid Package Into Law
On Friday, the House passed—and President Trump signed into law—the CARES Act, a $2 trillion stimulus package to provide relief to American consumers and businesses struggling as a result of the coronavirus pandemic.
Draft Libor Transition Language Released for Variable-Rate Private Student Loans
The Alternative Reference Rates Committee today issued a consultation on draft fallback language for variable-rate private student loans that reference the U.S. dollar London Interbank Offer Rate.
Implementation of Basel IV Standards Delayed
The Basel Committee on Banking Supervision today announced that it will delay the implementation of outstanding capital standards—commonly referred to as “Basel IV”—to allow banks to focus their resources on navigating the coronavirus pandemic.
Agencies Approve Early Adoption of SA-CCR, Delay of CECL Capital Phase-In
The federal banking agencies today announced two actions intended to help banks ensure the continued flow of credit to households and businesses during the coronavirus pandemic.
ABA Data Bank: FDIC Insurance Fund at Record-High Balance
Since 2007, banks have more than doubled the balance of the FDIC insurance fund that protects deposits to a record $110.3 billion.
CFPB to Postpone Certain Data Collections Due to Coronavirus
To help banks focus on responding to their customers’ needs during the coronavirus pandemic, the Consumer Financial Protection Bureau today announced it will postpone certain data collections for CFPB-related rules.
Agencies Encourage Banks to Engage in Responsible Small-Dollar Lending
The federal financial regulators today issued a joint statement urging financial institutions to offer “responsible small-dollar loans to both consumers and small businesses.”
FFIEC, SEC Grant Extensions for Required Filings
Acknowledging the significant burdens that banks are currently facing as they provide assistance to customers during the coronavirus pandemic, the Federal Financial Institutions Examination Council last night announced a 30-day extension for institutions for the Call Report due on March 31.