Agencies Issue Final Rules on Appraisals, LCR Relief
The federal banking agencies today finalized two rules intended to provide relief for financial institutions as a result of actions taken to aid in the coronavirus response.
Browsing: Policy
ABA Opposes Two Bills Changing Bankruptcy Code
The American Bankers Association expressed its opposition today to two bills that would change the bankruptcy code, writing in a memo to the House Judiciary Committee that the “bills would increase the cost of borrowing and reduce the availability of credit.”
ABA, NBA Release New Ad Highlighting Rep. Bacon’s Support for PPP, Small Biz
ABA and the Nebraska Bankers Association today released a new voter education ad thanking Rep. Don Bacon (R-Neb.) for supporting the Paycheck Protection Program during the coronavirus pandemic.
ABA Opposes OCC’s Proposed Payments Charters
The American Bankers Association today said it has “serious concerns” about the OCC’s intention to issue a payments charter that would allow non-depository institutions to access the payments system.
Acknowledging Systemic Risk, FSOC Endorses Plan to Raise Fannie, Freddie Capital
While not going so far as to designate the GSEs as systemically important financial institutions, the Financial Stability Oversight Council today unanimously endorsed the Federal Housing Finance Agency’s plan to rebuild Fannie Mae’s and Freddie Mac’s capital levels.
GOP Lawmakers Urge Regulators to Exempt PPP Loans from Asset-Based Calculations
A group of House Republicans this week called on the regulatory agencies to exclude SBA Paycheck Protection Program loans from asset-based regulatory thresholds, deposit insurance premiums and other regulatory requirements.
Mnuchin: Additional Legislation Needed to Streamline PPP Forgiveness Process
Testifying before the Senate Banking Committee today, Treasury Secretary Steven Mnuchin said he would reach out to the Small Business Administration “this afternoon” about how they could further streamline the forgiveness process for Paycheck Protection program loans, though he signaled that additional legislation may be needed.
ABA Outlines Possible Features of Third-Party Technology Certification Program
The American Bankers Association today outlined possible features of a public-private partnership that could certify third-party technology providers.
Fed Issues Its Own CRA Modernization Proposal
The Federal Reserve today issued an advance notice of proposed rulemaking on updating the agency’s three-decade-old Community Reinvestment Act regulations.
Fed Updates Main Street Lending Program FAQs
The Federal Reserve today clarified its expectations for lenders when underwriting Main Street Lending Program loans.