In light of COVID-19, the Federal Reserve released an interim rule to Regulation D on April 24, 2020 suspending the 6 per month limit on savings deposits. In March, the ...
On April 10, 2020, the IRS issued Notice 2020-23 that postponed numerous time-sensitive acts – many of which are IRA related. Included in this list of time-sensitive acts are IRA ...
The National Automated Clearing House Association (Nacha) has released guidance regarding ACH transfers in light of COVID-19. Nacha reminds financial institutions of the importance of reviewing their business continuity plans ...
During the weekend of May 16, 2020, Fannie Mae will be implementing updates to their Desktop Underwriter (DU) Version 10.3. These updates will apply to loans using DU Version 10.3 ...
The Consumer Financial Protection Bureau (“CFPB”) issued a final rule (the “Rule”) raising the Home Mortgage Disclosure Act (“HMDA”) amending Regulation C and raising reporting thresholds for closed-end mortgages from ...
The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively the “Agencies”) issued an ...
On April 14, 2020, Fannie Mae and Freddie Mac (the GSEs) released a joint announcement regarding the extension of the implementation timeline for the redesigned URLA (Fannie Mae Form 1003 ...
The Bureau of Consumer Financial Protection ("Bureau") has issued an interpretive rule to allow the disbursement of funds by a government agency for COVID-19 relief through an electronic fund transfer, ...
On April 10, 2020, the Bureau of Consumer Financial Protection ("Bureau") released a policy statement that during the COVID-19 pandemic it will not cite supervisory violations or initiate enforcement actions ...
On Thursday April 9, 2020, the IRS issued Notice 2020-23 providing expanded coronavirus relief including IRA rollovers. The rollover relief provides increased flexibility for IRA owners looking to complete a ...