New single-family home sales rose to a seasonally adjusted annual rate of 623,000 in April,…
The Small Business Administration late last night released much-anticipated interim final rules describing the loan forgiveness process, as well as lenders’ and borrowers’ responsibilities, for the Paycheck Protection Program.
To help financial service providers assist struggling borrowers during the coronavirus pandemic, the Consumer Financial Protection Bureau toady issued two no-action letter templates that are intended to help institutions make their own NAL applications for certain consumer financial products and services, as allowed under the CFPB’s innovation policy.
In a letter to IRS officials yesterday, ABA called for additional guidance to help taxpayers and financial institutions comply with tax-related obligations during the coronavirus pandemic.
ABA and six other financial trade groups wrote to the Federal Communications Commission yesterday highlighting broad support for an ABA-led petition seeking an expedited declaratory ruling or waiver from the FCC to confirm that financial institutions’ COVID-19-related calls are exempt from the Telephone Consumer Protection Act’s requirements.
With many rural businesses and agricultural producers facing financial challenges as a result of COVID-19, the Department of Agriculture today announced that it will make available up to $1 billion in loan guarantees for these entities through Farm Service Agency loan programs and through the USDA Business and Industry CARES Act Program, a new program that provides working capital loans to help rural businesses prevent, prepare for or respond to the effects of the pandemic.
As the American Bankers Association has long advocated, the Department of Labor today issued its final rule to modernize retirement disclosures by facilitating the use of electronic delivery for participant notices and disclosures through the creation of a new safe harbor.
As reported by several media outlets earlier this week, Comptroller of the Currency Joseph Otting today announced that he would step down from office on May 29.
Existing-home sales dropped by 17.8% in April to a seasonally adjusted annual rate of 4.33…
The Small Business Administration today issued guidance to Paycheck Protection Program lenders on filing Form 1502, which will trigger the payment of the PPP loan processing fees to lenders.