As the second quarter of 2020 draws to a close, many companies that received Paycheck Protection Program (PPP) loans are unsure of how to account for them on their financial…
CFPB Issues New Factsheets on ECOA Valuations Rule for Consumer and Commercial Lenders
Nearly seven years after the inception of the Equal Credit Opportunity Act (ECOA) Valuations Rule, the Consumer Financial Protection Bureau (CFPB) issued factsheets for two of its major components: transaction…
CFPB Amends Remittance Rule Exempting More Financial Institutions and Offering Greater Disclosure Flexibility
The disclosure threshold for financial institutions is now increased for international money transfers, which exempts a greater number of institutions from the rule. Additionally, impacted banks and credit unions now…
CARES Act Impacts to Retirement Plans and Six Considerations for Plan Sponsors
Job loss, reduced hours, illness, caretaking responsibilities and more – coronavirus continues to produce a raft of economic uncertainties and financial hardships for individuals. The Coronavirus Aid, Relief and Economic…
CFPB Issues Interpretive Rule and FAQs to Offer Consumers Quicker Access to Mortgage Credit
Amid the COVID-19 pandemic, many consumers are seeking quicker access to credit to meet their financial needs. On April 29, 2020, the Consumer Financial Protection Bureau (CFPB) issued an interpretive…