Finance, investment and tax-related legislation

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.

The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven.

In some cases, financial institutions are required by court order to divert funds to private creditors. But the industry has added its voice to a consensus for a legislative update to ensure Americans receive their full amount.

The third credit union-related bill introduced this week would cut credit unions’ annual required board meetings to just six times per year.

The industry loves to tout its bipartisanship, but it has very publicly embraced the Trump administration at times.

Lawmakers advanced legislation that would require financial regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts.

Lawmakers advanced legislation that would require banking regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts.

The Department of Business Oversight said TitleMax charged consumers fees to push loan amounts above the threshold at which the state's rate cap applies.

Chairman Jelena McWilliams previewed a proposal to update the agency’s definition of brokered funds, but also suggested steps lawmakers could take to improve the rule’s underlying statute.

With 2019 winding to a close, regulators and members of Congress are working to wrap up key items for credit unions before the end of the year.