Browsing: Coronavirus

Compliance and Risk

The Consumer Financial Protection Bureau on Monday wrote to the Federal Communications Commission in support of a petition filed by ABA and six other financial trade groups seeking an expedited ruling from the FCC on the exempt status of banks’ COVID-19 related calls.

Commercial Lending

The Small Business Administration has restricted the use of robotic processing automation, or RPA, to enter Paycheck Protection Program loan applications amid lenders’ significant difficulties accessing the E-Tran system.

Commercial Lending

The Small Business Administration will conduct a “full audit” of Paycheck Protection Program loans made in amounts over $2 million to ensure the borrower’s legitimate economic need before they can be forgiven, Treasury Secretary Steven Mnuchin told CNBC today.

Compliance and Risk The CRA-Inspired COVID-19 Response

Compliance officers and CRA professionals can leverage the powerful resources in banks across the country to make an impact both now and throughout the extended recovery period from this national emergency.

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