Law and regulation

Nearly 900 institutions are set to receive a payout related to the demise of Southwest Corporate FCU, but the agency could ultimately return as much as $2.5 billion tied to the corporate credit union failures of 2009 and 2010.

The pandemic will accelerate the drive toward a supervision process in which both regulators and banks will need the digital tools that enable sophisticated remote exams. Expect a heightened focus, too, on customers' financial health.

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

Though the agenda is unclear, the National Credit Union Administration's board meeting could include the long-awaited credit union version of the Community Bank Leverage Ratio.

After drawing industry opposition, legislation that would have added broad new borrower protections during the pandemic failed to advance out of the state Assembly.

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

Sen. Deb Fischer, R-Neb., has introduced a bill that would convert the bureau's leadership to a five-person bipartisan commission. Similar legislation was introduced in the House in March.

A proposal from the credit union regulator was criticized for being needlessly complex and not requiring enough transparency.

Kyle Hauptman, an aide to Sen. Tom Cotton, R-Ark., also served on the president's 2016 transition team. He would replace board member Mark McWatters, whose term expired last year.

Fed Chair Jerome Powell will address lawmakers twice this week while the Supreme Court could come out with a long-awaited ruling on the Consumer Financial Protection Bureau.