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The OCC is plowing ahead on plans to modernize the Community Reinvestment Act, but a growing consensus of industry and community voices says now is not the time for a major overhaul.

Millions of Americans have yet to receive their stimulus checks, leading progressives to demand reforms improving underbanked consumers’ access to the financial system.

As special IG for the Treasury’s allocation of $500 billion in aid, Brian Miller could look into funding for Fed credit facilities. But Democrats on the Senate Banking Committee questioned his independence.

The central bank’s programs announced since mid-April in response to the coronavirus outbreak match if not exceed the actions it took during the 2007-9 financial crisis.

Banking regulators restored the scandal-plagued bank's score three years after assigning it the lowest possible rating under the Community Reinvestment Act.

Some megabanks are pushing New York lawmakers to add a legal safe harbor if lenders use the new Secured Overnight Financing Rate. Smaller banks would have little choice but to take that option.

Consumer groups are poised to take the bureau to court over its gutting of underwriting requirements, while House Democratic leaders could attempt a repeal through the Congressional Review Act.

The Main Street Lending Program, announced on April 9 as an option to help U.S. businesses weather the coronavirus outbreak, will be available to a wider array of companies than previously planned.

The industry dodged a bullet after the former vice president outlasted more progressive rivals for the Democratic presidential nomination. But some worry the presumptive nominee will have to consider calls for tougher regulation from his party's liberal wing.

The Federal Reserve chairman pledged to use every tool at the central bank's disposal to limit the economic fallout from the coronavirus and urged lawmakers to take further action.

Treasury secretary says big firms that took PPP loans should apologize, not just return the money; German fintech’s shares drop 26% as audit fails to rebut accounting fraud allegations.

Unlike recent affairs that were marred by protests, this year's meeting — held online because of the coronavirus outbreak — went smoothly as investors overwhelmingly approved the bank's slate of directors and executive compensation plan.

Fannie Mae and Freddie Mac are now able to buy loans in forbearance to alleviate pressure on the sector, but the fees charged by the mortgage giants to assume more risk could turn away some originators.

Lester Owens, who is scheduled to join the bank in July, will report to Chief Operating Officer Scott Powell. He will be charged with implementing a more unified structure across the 260,000-person company.

As banks accept new applications for the paycheck program, they are dogged by complaints that they prioritized wealthy borrowers. But lenders likely fast-tracked clients they knew best under difficult circumstances, observers say.

The FHFA's director said the announcement is meant to “combat ongoing misinformation” about efforts to let homeowners skip mortgage payments due to the coronavirus pandemic.

Lenders and small businesses are hoping this round goes more smoothly than the chaotic first one (and if it doesn't, Joe Biden warns, many mom-and-pop shops are done for); originators are adding staff, cutting marketing to handle massive uptick in refinance applications.

The bureau said it began developing the standards before the coronavirus pandemic. But more transfers may occur as some servicers struggle to meet their obligations during the economic downturn.

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.

The Federal Housing Administration has provided struggling homeowners with payment flexibility and explored other measures. At the same time, the agency is mindful of protecting itself against downside risks.