In a highly anticipated move today, the Federal Housing Finance Agency re-proposed a 2018 proposal to establish a new regulatory capital framework for Fannie Mae and Freddie Mac, charting a clear path for the GSEs to exit conservatorship.
To encourage banks and other depository institutions to engage in responsible small-dollar lending, federal financial regulators today issued long-awaited joint guidance for offering these types of loans to consumers and small businesses.
The OCC today issued its long-awaited final rule making significant changes to the regulations implementing the Community Reinvestment Act—the first overhaul of the CRA framework in more than three decades.
Members of the Federal Reserve Open Market Committee said they expect economic activity in the second quarter to “decline at an unprecedented rate” as the coronavirus pandemic persists in the U.S., with the heaviest burden likely to fall on the “most vulnerable and financially constrained households in the economy.”
A new video released by the American Bankers Association today highlights the many ways America’s banks have stepped up to support customers and communities facing unprecedented challenges during the coronavirus pandemic.
In updates to its Paycheck Protection Program FAQs tonight, the Small Business Administration announced that it will extend the deadline for lenders to submit the still-yet-to-be-released Form 1502, which must be completed in order for lenders to receive their processing fee.
Top policymakers today said that they expect the Main Street Lending Program “to be up and running by the end of the month.”
Testifying before the Senate Banking Committee today, Federal Reserve Chairman Jerome Powell flagged risks that could arise if the economic downturn associated with the pandemic continues for an extended time period.
Fannie Mae and Freddie Mac have issued temporary guidance clarifying the ability of borrowers with loans in forbearance to refinance or purchase a new home, the Federal Housing Finance Agency announced today.