CFPB Compliance Aid Clarifies ECOA Notification Obligations for PPP Loans
The Consumer Financial Protection Bureau today published a compliance aid to provide additional clarity regarding banks’ obligations under the Equal...
Newsbytes
ADP: 20 Million Jobs Lost in April
The non-farm private sector lost an unprecedented 20,236,000 jobs in April, according to the ADP National Employment Report. This follows...
Credit Card Use Rises in Q4; More Customers Paid Off Balances in Full
As credit card use picked up in the fourth quarter of 2019, a record share of consumers paid off their...
IRS Updates FAQs to Address Payments to Deceased, Other Non-Eligible Recipients
The IRS has updated its FAQs on the CARES Act economic impact payments to reflect that the deceased (as well...
SBA: Paycheck Protection Program Round Two Lending Tops $181B
As of 5 p.m. tonight, a total of 2.38 million Paycheck Protection Program loans had been made in the second...
Agencies Provide Relief for Banks Participating in PPP, Money Market Liquidity Facilities
To facilitate banks’ participation in the Paycheck Protection Program Liquidity Facility and the Money Market Mutual Fund Liquidity Facility, the...
Household Debt Increased Ahead of Coronavirus Outbreak
Outstanding household debt increased by 1.1% in the first quarter of 2020, rising by $155 billion to land at $14.3...
ABA Calls for Greater Clarity on Criminal Penalties in OCC’s Licensing Standard
In a comment letter to the OCC yesterday, ABA offered feedback on recent proposed changes to the agency’s licensing policies...
FHFA to Provide Additional Loan Origination Flexibility
As part of its ongoing effort to provide relief to mortgage borrowers during the coronavirus pandemic, the Federal Housing Finance...
International Trade Balance Widened in March
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was...
