Acting OCC Head Calls for Ending Coronavirus-Related Shutdowns to Boost Economy
Acting OCC Head Calls for Ending Coronavirus-Related Shutdowns to Boost Economy Brian Brooks, who became acting Comptroller of the Currency after former Comptroller Joseph Otting stepped down last week, has called for states to end the shutdown orders that were put in...
Democratic Senators Press Treasury on Tribal Concerns on Coronavirus Relief Funds
Democratic Senators Press Treasury on Tribal Concerns on Coronavirus Relief Funds Last week, Senator Tom Udall (D-N.M.), vice chairman of the Senate Committee on Indian Affairs, was joined by 11 of his Democratic colleagues in the Senate in sending a letter to...
Senators Introduce Bill to Prevent CARES Act Payments from Garnishment
Senators Introduce Bill to Prevent CARES Act Payments from Garnishment U.S. Senators Sherrod Brown (D-Ohio), Chuck Grassley (R-Iowa), Ron Wyden (D-Ore.), and Tim Scott (R-S.C.) introduced a bill last week to protect CARES Act pandemic relief payments from garnishment...
House Financial Services Committee To Hold Seven Virtual Hearings in June
House Financial Services Committee To Hold Seven Virtual Hearings in June This afternoon, House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) announced that the committee would be holding seven virtual hearings during the month of June. The majority... Otting Steps Down as Head of OCC
Otting Steps Down as Head of OCC Comptroller of the Currency Joseph M. Otting announced that he will resign from office at the end of this week, just over halfway through his five-year term. First Deputy and Chief Operating Officer Brian P. Brooks will become Acting...
Financial Regulators Issue Guidance for Offering Responsible Small-Dollar Loans
Financial Regulators Issue Guidance for Offering Responsible Small-Dollar Loans Last week, four federal financial regulatory agencies released guidance titled “Interagency Lending Principles for Offering Responsible Small-Dollar Loans,” encouraging credit unions,...
House Passes HEROES Act as Next COVID-19 Relief Bill
House Passes HEROES Act as Next COVID-19 Relief Bill Last week, the House of Representative passed the HEROES Act as its latest effort to provide relief in response to the COVID-19 pandemic crisis. The legislation aims to help essential workers, renters and...
CFPB Outlines Billing Error Responsibilities of Financial Firms During Pandemic
CFPB Outlines Billing Error Responsibilities of Financial Firms During Pandemic Last week, the Consumer Financial Protection Bureau (CFPB) released a statement and FAQs concerning the obligations of financial firms during the coronavirus pandemic. Specifically, the... 