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Financial Services Law Insights and Observations

FDIC posts Covid-19 FAQs for bankers and bank customers

Federal Issues Agency Rule-Making & Guidance Privacy/Cyber Risk & Data Security FDIC Consumer Finance Covid-19

Federal Issues

On March 19, the FDIC issued FIL-18-2020, which highlights frequently asked questions for bank customers and banks affected by Covid-19. The FAQs, are available on the FDIC’s Covid-19 webpage. Bank customer FAQs cover questions regarding (i) deposit insurance; (ii) customer access to money; (iii) tips for avoiding scams; and (iv) identity theft, among other things. The FAQs for financial institutions cover topics including working with borrowers affected by Covid-19 through payment accommodations, reporting delinquent loans,  and operational issues affecting institutions.

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