Mortgages

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic.

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending.

Some homeowners who sought relief as a result of COVID-19 may owe a lump sum when their forbearance period ends, according to a report from the Committee for Better Banks. The group is calling on banks to instead extend the repayment periods for affected customers.

Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again.

Measures designed to give banks and credit unions more flexibility to help customers weather the coronavirus pandemic are set to expire Dec. 31 unless Congress renews them.

The agency has scheduled an extra assessment of institutions' strength to incorporate more recent economic data during the pandemic.

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

It's unlikely that lawmakers will pass new coronavirus-related legislation before Congress leaves for its October recess.