Regulation

The American Bankers Association and the National Bankers Association will collaborate on training and advocacy efforts.

The latest version of the business lending initiative has $60 billion set aside for smaller lenders, including credit unions, but there are concerns the money will be allocated just as quickly this time as it was during the first round.

Lenders are being urged to prepare applications for the latest version of the Paycheck Protection Program.

Banks would have drowned if lawmakers hadn't delayed the new accounting standard during the coronavirus pandemic.

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.

Bank trade groups from all 50 states have called on Congress not to lift restrictions on member business lending under the guise of aiding with coronavirus relief efforts.

Financial institutions could testify before the bipartisan commission overseeing the unprecedented economic aid for industries hit by the COVID-19 pandemic. But without subpoena authority, the panel’s impact may be limited.

Banks had an opportunity to delay compliance with the new accounting standard, but many opted to move forward to get ahead of credit issues that could arise from the coronavirus outbreak.

In a rare show of unity, banking industry and consumer advocacy groups told congressional leaders that it is not too late to ensure individuals can access all of their coronavirus relief funds promised by the government.

The Los Angeles regional bank recorded the $1.5 billion noncash charge after its stock price ended March below its tangible book value.