BIRMINGHAM, Ala.—Some of the major card-issuing institutions in the U.S. have responded to the coronavirus pandemic with pricing and fee changes to provide cardholders with some relief, while others have yet to act.
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BOSTON–Massachusetts’ two state senators are asking the Bay State’s banks and credit unions to suspend fees for consumers until the coronavirus crisis passes.
GREENWICH, Conn.–Marblegate Asset Management, which recently purchased NCUA’s taxi medallion loan portfolio and which is the largest holder of medallion loans, said in response to the coronavirus outbreak it will offer a 30-day payment holiday for individual drivers who own their own medallions.
TACOMA, Wash.–In response to the coronavirus pandemic, CU Strategic Planning has sent a letter to members of both the Senate and House appropriations committee urging a significant increase in the already-scheduled April 21 grant funding round for the Community Development Financial Institution (CDFI) Fund.
MADISON, Wis.–CUNA Mutual Group has released its 2019 results, with the company saying the results indicate its financial strength and long-term ability to deliver on commitments amid global economic and health concerns.
WASHINGTON–FDIC Chairman Jelena McWilliams has sent a letter to the Financial Accounting Standards Board (FASB) urging a delay in transitions to and exclusions from certain accounting rules.
WASHINGTON–The FDIC has granted bank charters to two companies, one of which is a well-known fintech and payments provider.
ALEXANDRIA, Va.–NCUA has sent a letter to credit unions that outlines a change in an interpretive rule for lending to members of the military. The letter comes three weeks after the agency made the change, according to the Regulatory Report, which first reported the letter.
WASHINGTON—The federal bank regulatory agencies has added yet another tool aimed at providing liquidity to the markets. Separately, the Fed has also announced temporary U.S. dollar liquidity arrangements with more countries.
WASHINGTON–State insurance regulators are being urged to direct insurance companies to cut premium offset payments to reflect the immediate reduction in expected insurance claims as a result of COVID-19 restrictions keeping drivers off the road.