COVID-19 Resources Related to Banking & Financial Services

Federal Resources & Guidance

5/20/2020 - Interagency Lending Principles for Offering Responsible Small-Dollar Loans 

4/14/2020 - CFPB and FHFA Announce Borrower Protection Program

4/13/2020 – CFPB issues Interpretive Rule On Treatment of Pandemic Relief Payments under Regulation E and Application of Compulsory Use Prohibition

4/10/2010 - CFPB Announces Guidance on Remittance Transfers During COVID-19 Pandemic

4/10/2020 – FDIC Frequently Asked Questions for Small Business Administration’s Payroll Protection Program

4/9/2020 – Department of Treasury, FDIC and Federal Reserve System, Regulatory Capital Rule: Paycheck Protection Program Lending Facility and Paycheck Protection Program Loans

4/7/2020 - Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)

4/3/2020 – CFPB Issues Mortgage FAQ’s related to COVID-19 Emergency and CARES Act Guidance 

4/3/2020 - Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act

4/1/2020 – CFPB Issues Credit Reporting Guidance During COVID-19 Pandemic 

3/26/2020 - Joint Agency Statement Encouraging Responsible Small-Dollar Lending in Response to COVID-19

3/26/2020 – CFPB Statement on Supervisory and Enforcement Practices Regarding Quarterly Reporting Under the Home Mortgage Disclosure Act

3/26/2020 – CFPB Statement on Supervisory and Enforcement Practices Regarding Bureau Information Collections for Credit Card and Prepaid Account Issuers

3/26/2020 – CFPB Statement on Bureau Supervisory and Enforcement Response to COVID-19 Pandemic

3/26/2020 - Director Kraninger Remarks During Financial Stability Oversight Council Meeting

3/25/2020 – Fannie Mae Lender Letter (LL-2020-05), Requirements for Payment Deferral

3/25/2020 – Freddie Mac Payment Deferral Guidance

3/25/2020 -  Financial Regulators Highlight Coordination and Collaboration of Efforts to Address COVID-19   

3/24/2020  - Statement by Secretary Steven T. Mnuchin on Essential Financial Services Workers

3/24/2020 – Federal Reserve Statement on Supervisory Activities, Suspend Examination of Institutions with less than $100 Billion in Assets

3/22/2020 -  Interagency Guidance encouraging Financial Institutions to Work with Borrowers and to Provide Additional Information regarding Loan Modifications

3/19/2020 – Sen. Sherrod Brown (D. OH) calls on Debt Collectors to Stop Debt Collection During Crisis 

3/19/2020 – FDIC FAQs for Financial Institutions and Consumers Affected by the Coronavirus

3/18/2020 – Sen. Sherrod Brown (D. OH) letter to ACA International

3/18/2020 – Sen. Sherrod Brown (D. OH) letter to National Creditors Bar Association

3/18/2020 – Letter from Greater Boston Legal Services to Industry

3/18/2020 – CFPB Statement on Joint HUD-FHFA Announcement on Foreclosure and Eviction Moratorium

3/17/2020  - Interim Final Rule on Technical Changes to Automatic Distribution Restrictions

3/17/2020 – FDIC Statement on Financial Institutions working with Customers Affected by Coronavirus and Regulatory and Supervisory Assistance


State/Municipal Resources and Guidance

3/27/2020 – North American Collection Agency Regulatory Association (NACARA) Guidance on Offering Assistance to Consumers

3/27/2020 – North Carolina Major Disaster Declaration, 30 day deferral on insurance premiums and debt payments

3/26/2020 -  Letter from 26 Attorneys General to Department of Education to Protect Federal Student Loan Borrowers

3/26/2020 – Massachusetts Attorney General issues Emergency Regulations, 90 day Moratorium on Debt Collection

3/21/2020 –  State of NY, Executive Order, Continuing Temporary Suspension and Modification of Laws  Relating to the Disaster Emergency (Forbearance of Mortgage Payment and Waiver of all Fees)  

3/20/2020 – State of Washington, Department of Financial Institutions, Guidance to Washington State Regulated and Exempt Residential Mortgage Loan Servicers Regarding Support for Borrowers Impacted by the Novel Coronavirus (COVID-19)

3/20/2020 – State of Wisconsin, Department of Financial Institutions, Statement of No-action Concerning a Licensed Mortgage Loan Originator Working from Home

3/20/2020 – Texas Department of Saving and Mortgage Lending, Suspension of Requirements to Work at Physical Location

3/20/2020 – Montana Department of Banking and Financial Institutions, DBFI Resources and Response to COVID-19

3/19/2020 – Pennsylvania Department of Banking and Securities, COVID-19 Information and Guidance

3/18/2020 – Colorado AG urges Student Loan Servicers, other Creditors to Pause Debt Collection Efforts

3/18/2020 – Chicago Mayor Lightfoot Announces Temporary Suspension of Debt Collection, Ticketing and Towing Practices

3/18/2020 – State of Wisconsin, Department of Financial Institutions, Emergency Guidance on Character and Fitness of Payday and Licensed Lenders

3/18/2020 – Iowa Division of Banking, Regulatory Guidance for Working from Residence or Other Company Designated Location

3/18/2020 – State of Louisiana, Office of Financial Institutions, Emergency Declaration Relative to Non-Depository Institutions, Temporarily Working from Home

3/17/2020 – NY Gov Andrew Cuomo and Attorney General Letitia James Temporarily Suspend State Debt Collection of Student Loans and Medical Debt for 30 days

3/17/2020 – New Mexico Regulation and Licensing Department, Financial Institutions Divisions,  Temporary Regulatory Guidance regarding Work from Home due to  COVID-19 Concerns

3/16/2020 – Vermont Department of Financial Regulations Guidance on Working with Consumers during Crisis

3/16/2020 -  Commonwealth of Massachusetts, Division of Banks, Guidance on Working with Consumers during Crisis

3/16/2020 – State of Mississippi, Department of Banking and Consumer Finance, Interim Regulatory Guidance, Temporarily Working from Home

3/16/2020 – Kansas Office of the State Banking Commissioner, Temporary Guidance for Licensees Working Remotely

3/16/2020 – Colorado Department of Regulatory Agencies, Colorado Mortgage Loan Originators may perform licensed activities in any location: A Division Advisory

3/13/2020 -  State of New Hampshire, Department of Banking Guidance in Working with Consumers during Crisis

3/13/2020 – Rhode Island Department of Business Regulation, Banking Bulletin 2020-1, Licensed Mortgage Loan Originators and Servicers may Work From Home

3/13/2020 – West Virginia Division of Financial Institutions, COVID-19, Temporary Assignment to Alternative Location including Mortgage Loan Originators

3/13/2020 – Arkansas Securities Department, Interim Regulatory Guidance for Licensed Mortgage Companies, Loan Officers and Branch Managers

3/13/2020 – Oklahoma Department of Consumer Credit, Interim Guidance – Temporary Operations and Working with Consumers

3/13/2020 – Texas Office of Consumer Credit Commissioner, No-Action on Licensees that Conduct Business from Unlicensed Locations

3/13/2020 – Idaho Department of Finance, Temporary Regulatory Guidance Regarding Working from Home

3/13/2020 – State of Nevada, Department of Business and Industry, Division of Mortgage Lending, Provisional Guidance – Temporarily Working from Home

3/12/2020 – State of Alabama, State Banking Department, Pandemic Planning

3/12/2020 – South Dakota Division of Banking, Interim Regulatory Guidance – Temporarily Working from Home

3/12/2020  - Nebraska Department of Banking and Finance, Mortgage Banker and Mortgage Loan Originator Guidance on Temporary Branch Relocations

3/12/2020 – Oregon Division of Financial Regulation, Bulletin No. DFR 2020-6, Temporarily Working from Home

3/11/2020 - Commonwealth of Massachusetts, Division of Banks. Reminder to Licensees about Business Continuity Plans

3/10/2020 – NY Department of Financial Services, Guidance to New York State Regulated Banks, Credit Unions and Licensed Lenders Regarding Support for Businesses Impacted by the Novel Coronavirus

3/9/2020 -  Connecticut Department of Banking, No Action Position regarding Temporary Work From Home

3/5/2020 - State of Washington, Department of Financial Institutions, Division of Consumer Affairs, Interim Regulatory Guidance – Temporarily Working from Home


Financial Institutions – Statement and Guidance

3/19/2020 – Statement from Bank of America announcing additional support for consumers