CFPB report flags pandemic-related issues in deposits, mortgage servicing
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.
Browsing: Pandemic
ABA joins state banking groups in ads thanking lawmakers for their community outreach
ABA joined the California and Georgia bankers associations with voter education ads thanking two lawmakers for their work supporting communities.
FDIC: Banks Reporting More Sophisticated Cyber Attacks Since Start of Pandemic
Since the start of the pandemic, banks have reported more sophisticated cyber attacks, said Lisa Arquette, associate director of the FDIC’s anti-money laundering and cyber fraud division at an industry event today.
SBA to Offer Additional Deferment for COVID EIDL Program Loans
The Small Business Administration today announced that it will extend the deferment timeframe for COVID-related Emergency Disaster Injury Loans to a total of 30 months.
SBA Administrator Guzman Says Country Needs to Return to Work
Small Business Administration Administrator Isabella Casillas Guzman told bankers today at the American Bankers Association’s Washington Summit that to help small businesses, the country needs to return to work.
ABA Data Bank: Google Trends Data Shows Uptick in Going Out
Google searches for concerts, restaurants, and rental cars ticked up after daily new cases of omicron started to decline.
PPP Borrowers May Request Review of Partially Forgiven Loans
The Small Business Administration announced that it will allow Paycheck Protection Program borrowers to request a loan review by SBA when the lender determines that the borrower is entitled to only partial forgiveness of the PPP loan.
FOMC to End Asset Purchases by Early March
The Federal Reserve will continue to reduce the monthly pace of asset purchases and bring them to an end in early March, according to the latest Federal Open Market Committee statement issued today.
Beige Book: Economic Activity Hampered by Labor Shortages, Supply Chain Issues
Economic activity grew at a modest pace in the final weeks of 2021 as many parts of the country reported constrained growth due to supply chain disruptions and labor shortages, according to the Federal Reserve’s first Beige Book release of the year.
Survey: Four in 10 Businesses Expect Credit Needs to Rise in 2022
Despite uncertainty related to COVID-19, four in 10 businesses say they expect their credit needs to increase in 2022, according to the JPMorgan Chase Business Leaders Outlook survey released today.