Covid-19 News & Analysis
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News items updated weekly on Thursday
Spotlight: Buckley's Covid-19 Legal Resources & Capabilities
Buckley's core strengths sit at the confluence of the most threatening risks companies of every size and in every industry now face from the pandemic and the government’s response. We feature a deep bench of industry-leading legal professionals that provide best-in-class advice through a tailored, responsive approach that delivers the legal experience of a diversified law firm.
CFPB argues eviction disclosure rule does not require false speech
On May 11, the CFPB urged the U.S. District Court for the Middle District of Tennessee to deny a request for a temporary injunction of a CFPB rule that would require all landlords to disclose to tenants federal protections put in place as a result of the ongoing Covid-19 pandemic, arguing that the...
InfoBytesMichael J. Hsu named acting Comptroller of the Currency
On May 7, Michael J. Hsu was designated acting Comptroller of the Currency, effective May 10. Previously, Hsu served as an associate director in the Federal Reserve’s Division of Supervision and Regulation where he led the Large Institution Supervision Coordinating Committee Program, which...
InfoBytesFHA clarifies timing to review Covid-19 loss mitigation options for borrowers
On May 7, FHA issued a notice clarifying when it is appropriate to begin reviewing borrowers for loss mitigation options outlined in the “Review of Borrowers in a Pandemic-Related Forbearance for a Covid-19 Loss Mitigation Option.” The notice acknowledges that some mortgagees are unsure about when...
InfoBytesDistrict Court vacates CDC’s nationwide eviction moratorium
On May 5, the U.S. District Court for the District of Columbia vacated the CDC’s eviction moratorium issued in response to the Covid-19 pandemic, ruling that the agency exceeded its authority with the temporary ban. The nationwide eviction ban was recently extended until June 30. Other courts have...
InfoBytesCFPB reports on Covid-19 mortgage borrower challenges
On May 4, the CFPB released two reports analyzing mortgage borrowers’ challenges due to the ongoing Covid-19 pandemic. The first report explores the characteristics of borrowers who are delinquent or in forbearance based a sample of nearly 662,000 loans for owner-occupied properties. The report...
InfoBytesCFPB, FTC remind landlords of tenant pandemic protections
On May 3, the CFPB acting Director Dave Uejio and FTC acting Chairwoman Rebecca Kelly Slaughter released a joint notification letter to the nation’s largest apartment landlords that together own over 2 million units. The letter serves as a reminder of federal protections put in place to keep...
InfoBytesCFPB sued over Covid-19 FDCPA eviction rule
On May 3, plaintiffs, including members of the National Association of Residential Property Managers, sued the CFPB asserting the Bureau’s recently issued interim final rule (IFR) violates their First Amendment rights. As previously covered by InfoBytes , the IFR amended Regulation F to require...
InfoBytesCFPB reports on consumer financial status changes
On April 30, the CFPB released a report that analyzed the early impacts of Covid-19 on the financial status of consumers. According to the Changes in Consumer Financial Status During the Early Months of the Pandemic data point report, fewer consumers had difficulty paying bills in the initial...
InfoBytesSBA extends PPP whole loan sales guidance
On April 30, the Small Business Administration (SBA) issued a procedural notice , effective immediately, extending guidance on whole loan sales applicable to lender merger and acquisition transactions where a lender has Paycheck Protection Program (PPP) loans in its portfolio. The guidance, which...
InfoBytesFed reports on banks’ resiliency during Covid-19
On April 30, the Federal Reserve Board released a Supervision and Regulation Report noting that banks’ “strong capital and liquidity positions” have aided in the Covid-19 pandemic recovery. The report observed that, during the Covid-19 pandemic, banks were able to raise supplementary capital,...
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