WASHINGTON UPDATES FOR 2020

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Annie Coldstream


#2020-31, September 18, 2020

ACTION ALERT: Urge Congress to Pass PPP Forgiveness Bills
MBA Joins Letter to Treasury and SBA Urging Further Action on PPP Loan Forgiveness
House Financial Services Committee Questions FHFA’s Calabria on “Adverse Market Fee”
FDIC Board Approves Plans to Restore DIF Reserve Ratio, Pay Assessment Credits
CFPB Releases Outline of Small Business Data Collection Proposals
FinCEN Rule Imposes AML Requirements on Trust Companies, Private Banks

#2020-30, September 11, 2020

MBA Joins State Associations in Urging Congress to Pass PPP Forgiveness Bill for Loans under $150K
HUD Issues Final Disparate Impact Rule Consistent with Court Ruling
Coin Task Force Releases New Resources; Fed Increases Coin Allocations

#2020-29, September 4, 2020

OCC Hosts Mutual Savings Association Advisory Committee Meeting September 22
House Democrats and GOP’s Assessment of PPP Starkly Different

#2020-28, August 28, 2020

FHFA Delays Refinance Fee until December 1
Bank Regulators Issue Three Final Rules on Pandemic Response
FDIC Proposes Significant Changes to Supervisory Appeals Process
OCC Hosting Virtual Mutual Conference for Federal Savings Associations

#2020-27, August 21, 2020

MBA, State Banking Associations Oppose Refinance Fee in Letter to FHFA
CFPB Proposal Establishes “Seasoned” Qualified Mortgages
Libor Transition Guides for ARMs, Student Loans Released
Regulators Hosting PPP Forgiveness Webinar on August 27

#2020-26, August 14, 2020

Fannie, Freddie Impose New 50 Basis Point Fee on Most Mortgage Refis
Updated Guidance on PPP Forgiveness, Loan Reviews Released
Regulators Issue Joint Regulatory Statement on C&D Orders in BSA/AML Enforcement
ARRC Provides SOFR Starter Kit

#2020-25, August 7, 2020

SBA Updates PPP Forgiveness FAQs; Application System to Shut Down Saturday
MBA, State Banking Associations Urge Congress to Modernize E-Sign Law
FFIEC Issues Statement on Treatment of Borrowers Nearing End of Pandemic Relief

#2020-24, July 31, 2020

MBA Joins State Banking Trade Associations in Urging Support for House PPP Forgiveness Bill
State Banking Associations Ask Treasury and SBA to Clarify PPP Agency Fees
FDIC Reduces Barriers to for Job Applicants with Certain Prior Records
CFPB Issues Request for Information on Expanding Access to Credit and Preventing Discrimination

#2020-23, July 24 2020

PPP Forgiveness Platform Opens August 10
Senate Republicans Considering PPP Provisions for CARES 2.0 Package
Senate Passes Bill to Protect Economic Impact Payments from Garnishment
House Votes to Include Beneficial Ownership Provision in Defense Bill
OCC Releases ‘True Lender’ Proposal
Fed Nominees Approved by Senate Banking Committee

#2020-22, July 17, 2020

ACTION ALERT: Calling on Bankers to Contact Congress
SBA Issues Guidance on Filing Form 1502; First Report Due Today
Directors, Shareholders Remain Eligible for PPP Loans under Fed Rule Extension
FinCEN Issues Alert on Twitter Account Virtual Currency Scam

#2020-21, July 10, 2020

House Passes Bill with Provisions to Address Crumbling Foundations Issue
MBA Opposes NCUA Subordinated Debt Proposal for CUs in Comment Letter
MBA, State Banking Associations Support Automatic Forgiveness for PPP Loans under $150K
E-Sign Modernization Bill Introduced in the Senate
COVID-19 Scams
CFPB Updates Rulemaking Agenda

#2020-20, July 3, 2020

Congress Extends PPP until August 8, 2020
House Passes Credit Score Bill
Supreme Court Rules CFPB Director Structure Unconstitutional
SCOTUS Declines to Hear NCUA Field of Membership Case
Labor Department Proposes Revised Fiduciary Rule that Includes Class Exemption
FinCEN Issues BSA Hemp Guidance
Fed Creates Coin Supply Task Force

#2020-19, June 26, 2020

FDIC and OCC Issue Rules to Mitigate COVID-Related Loan Growth on Deposit Insurance, Examination Assessments
FFIEC Releases 2019 HMDA Data
Financial Regulators Issue Examiner Guidance for Assessing COVID-19 Effects
Regulators Propose Changes to Interagency Q&As Regarding Flood Insurance
SBA Releases Guidance on Refinancing EIDLs Using PPP Loans
CFPB Proposes Changes to QM Rule, Extension for Temporary ‘GSE Patch’

#2020-18, June 19 2020

Senators Urge Streamlined PPP Forgiveness Process
Brokered Deposit Modernization Bill Introduced in Senate
Lender Registration Opens for Main Street Lending Program
Fed Says Pandemic Affecting Coin Availability
EEOC Clarifies that Employers Cannot Require Employee Antibody Testing

#2020-17, June 12, 2020

MBA Files Comments on FDIC Brokered Deposit Proposal
New PPP Flexibility Guidance, Application Form for Borrowers Released
SBA Provides Information on Lender Processing Fees
Fed Announces Changes to Main Street Lending Program

#2020-16, June 5, 2020

President Trump to Sign PPP Flexibility Bill
OCC Issues Proposals on Bank Activities and Innovation
OCC Issues Final Rule Clarifying ‘Valid When Made’ Principle
CFPB and CSBS Release Guidance on CARES Act Mortgage Relief Provisions
CFPB Issues Proposal to Facilitate LIBOR Transition

#2020-15, May 29, 2020

House Approves Bill Giving Flexibility to PPP Borrowers
MBA and State Banking Associations Call for a Streamlined Forgiveness Process
Boston Fed Releases Main Street Lending Program Documents; Updates FAQs
OCC Issues FAQs on CRA and COVID-19 Pandemic
CFPB Issues No-Action Letter Templates to Encourage Innovative Offerings

#2020-14, May 22, 2020

Key Senators Introduce Paycheck Protection Program Extension Act
Paycheck Protection Flexibility Act Introduced in Senate and House
OCC Releases Final CRA Rule without FDIC
Comptroller Otting Stepping Down from OCC
Regulators Release Guidance for Small-Dollar Loan Programs
FinCEN Issues Warning on COVID-19 Scams

#2020-13, May 15, 2020

House to Vote on $3 Trillion Bill to Provide More COVID-19 Relief
House Financial Services Subcommittee Hosts Roundtable Discussion with Prudential Regulators
Fed Releases FAQs on Reg D Changes
CFPB Provides Relief for Resolving Billing Errors during Pandemic‌
CFPB Finalizes Changes to Remittance Rule
MBA Partner Compliance Alliance Hosting Reopening Webinar for All Banks

#2020-12, May 8, 2020

SBA Offers Clarity for PPP Borrowers Attempting to Rehire Employees
Fed Issues Flood Insurance FAQs for Pandemic
CFPB Compliance Aid Clarifies ECOA Notification Obligations for PPP Loans
Regulators Issue Interim Final Rule Providing Relief for Institutions Participating in PPPLF
IRS FAQs Address Payments to Deceased, Other Non-Eligible Recipients of Stimulus Checks
Vacation Survey

#2020-11, May 1, 2020

Fed Issues Changes to Main Street Lending Program
MBA Encouraging Banks to Access Return to Work Resources; Respond to ABA Survey
CFPB Announces Temporary Relief from TRID and Regulation Z Waiting Periods‌
Fed Expands PPP Liquidity Facility’s Eligible Participants, Collateral

#2020-10, April 24, 2020

MBA, State Banking Associations Oppose Effort to Increase CU Business Lending Cap
Fed Issues Interim Final Rule Removing Reg. D Six-Transfer Limit
National Groups Seek Clarity on Garnishment of Stimulus Payments
EEOC Issues New Q&As on Employees Returning to Work
Fannie, Freddie Issue Optional Lender Scripts to Guide Borrowers through Forbearance Options
**Reminder: Association COVID-19 Resource Center**

#2020-09, April 17, 2020

ACTION NEEDED: Bankers Urged to Contact Congress in Support of Additional PPP Funding
MBA Joins State Bankers Associations on Amicus Brief Opposing CU Membership Rule
Agencies Issue Rule Deferring Appraisals for Real Estate Transactions
FFIEC Releases Computational Tools for APRs, APYs
Regulators Hosting April 24 Webinar on Coronavirus Loan Modifications and Reporting

#2020-08, April 10, 2020

Update on Federal Reserve PPPLF
MBA Comments on OCC/FDIC CRA Modernization Proposal
Association Joins State Banking Trade Groups in Calling for Changes to PPP
Agencies Update Guidance on COVID-19 Loan Modifications‌
Fannie, Freddie Revise COVID-19 Servicing Guidance to Reflect CARES Act Changes

#2020-07, April 3, 2020

SBA, Treasury Release Guidance, Loan Application for Paycheck Protection Program
CFPB Issues Statement on Reporting of Consumer Credit Data during Pandemic
Regulators Adjust Calculation for Credit Concentration Ratios
DOL Issues ‘Temporary Rule’ on Paid Leave Law

#2020-06, March 27, 2020

Congress Passes Coronavirus Relief Bill
SBA to Launch Paycheck Protection Program; Members Encouraged to Apply to Become SBA Qualified Lenders
Agencies Clarify that Loans Modified Due to COVID-19 Generally Not Treated as TDRs
Fannie, Freddie Announce Payment Deferral Option for Borrowers Exiting Forbearance
Fed Reducing Exam Activities
Regulators Encourage Banks to Engage in Responsible Small-Dollar Lending
March 31 Call Report Deadline Extended 30 Days

#2020-05, March 20, 2020

President Trump Signed Families First Pandemic Relief Bill
Republican Senators Introduce Bill to Lower the CBLR and Delay CECL
Senate Small Business Committee to Consider SBA Loan Bill
Sen. McConnell Introduces Emergency Stimulus Package
Fed Drops Rates to Zero; Initiates Actions to Support Economy during Coronavirus Pandemic
FDIC Issues FAQs for Banks, Consumers
Fannie, Freddie and HUD Suspend Foreclosures during Pandemic
FDIC Chair Calls on FASB to Delay CECL Implementation
Association Launches COVID-19 Resource Center

#2020-04, March 13, 2020

Financial Regulators Release Updated Pandemic Guidance
ABA Cancels 2020 Washington Summit and Forums
MBA Joins State Associations in Supporting SAFE Banking Act in Senate
FDIC Extends Comment Deadline on Signage Modernization Proposal

#2020-03, February 28, 2020

FDIC Requests Feedback on Signage and Advertising Requirements
FHFA Asks for Input on FHLB Membership Requirements
FDIC Issues Guide for Fintech Firms Hoping to Partner with Banks
CRA Proposal Comment Period Extended

#2020-02, January 24, 2020

SAFE Banking Act Sponsors Raise Concerns with Potential Senate Changes to Bill
NCUA Issues Supplemental Capital, Bank Purchase Proposals
FDIC, OCC Issue Statement on Heightened Cybersecurity Risk

#2020-01, January 17, 2020

Association Letter Urges Congressional Oversight Hearings Citing WSJ Article
House Committee Held FASB Oversight Hearing
Bill to Support Minority Banks Passes the House