WASHINGTON — The Consumer Financial Protection Bureau has released an outline of practices it said provides mortgage servicers clarity, facilitate compliance, and prevent harm to consumers during the transfer of residential mortgages.
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WASHINGTON–Round two of the Paycheck Protection Program begins today, with $60-billion in funds reserved for smaller institutions such as credit unions and CDFIs to distribute.
ALEXANDRIA, Va.–NCUA said it is temporarily postponing a half-million-dollar plan to rebrand and modernize the share insurance signage and other agency branding in order to focus resources on its response to the COVID-19 pandemic.
MADISON, Wis.–Capital and liquidity may never be more important to credit unions than they will be during what looks to be a very challenging second half of 2020 and all of 2021, according to one analyst, who said provision for loan losses is going to be a big topic of discussion, as will be negative ROA a year from now.
WESTBROOK, Maine–Infinity FCU launched a new campaign, “We Will Rise,” aimed at bringing hope and positivity to the communities it serves during these uncertain times.
TEMPE, Ariz.—The City of Tempe and the $4.9-billion Desert Financial Credit Union have launched a $1-million Tempe Small Business Emergency Loan Program.
ARLINGTON, Va.—New home sales fell to 627,000 units in March – down 15.4% from February's revised rate of 741,000 units and 9.5% from a year ago.
WASHINGTON—NAFCU and CUNA have joined with bank trade groups in a letter to the Uniform Law Commission (ULC) about the Gramm-Leach-Bliley Act (GLBA). In the letter the organizations request that the drafting committee, created by the ULC to create a uniform data privacy and security law, include an exemption for GLBA-covered financial institutions.
WASHINGTON–A March announcement by NCUA and four other federal regulators encouraging credit unions and banks to offer emergency small loans to struggling consumers during the coronavirus pandemic is a positive development, but could lead to some harmful loan products, according to Pew Trusts.
MCLEAN, Va.—More major card issuers are adjusting rewards to address new consumer behaviors resulting from the pandemic.