Covid-19 News & Analysis
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News items updated weekly; inclusive posting of state issuances suspended June 30, 2021, due to declining volume
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.
Illinois Division of Financial Institutions and Division of Banks reschedule certain hearings
On March 16, the Illinois Department of Financial and Professional Regulation, Divisions of Financial Institutions and Banking , issued a general orders rescheduling all Status and Preliminary Hearings scheduled for Wednesday, March 25, 2020, to Wednesday, May 27, 2020 at 9:30 AM and all All Status...
InfoBytesLouisiana issues guidance on branch closures due to Covid-19
On March 16, Louisiana’s Commissioner of Financial Institutions issued an emergency declaration granting financial institutions temporary authority to close branches within the state or to limit hours, reduce functions, or close certain days of the week. The declaration expressly waives the...
InfoBytesVermont Department of Financial Regulation issues guidance to Vermont chartered banks and credit unions
On March 16, the Vermont Department of Financial Regulation issued guidance to Vermont chartered banks and credit unions regarding working with affected customers. Financial institutions are encouraged to, among other things, waive certain fees (e.g., ATM, overdraft, late payment fees), ease...
InfoBytesUtah Department of Financial Institutions issues guidance to credit unions
On March 16, the Utah Department of Financial Institutions issued a statement encouraging credit unions to take steps to meet the financial services needs of members and communities affected by Covid-19. Credit unions are encouraged to, among other things, waive certain fees (e.g., ATM, overdraft,...
InfoBytesNew York requires regulated institutions to submit Covid-19 response plans by April 9
The New York Department of Financial Services (DFS) has created a webpage providing information for industry and regulated entities. On March 12, the New York Superintendent of Financial Services issued an order providing that regulated entities may temporarily relocate an authorized place of...
InfoBytesMassachusetts DOB issues guidance to assist consumers affected by Covid-19
On March 15, the Massachusetts Division of Banks issued guidance for financial institutions on working with consumers affected by Covid-19 and regulatory assistance available from the Division. The Division encourages financial institutions to work with affected customers and communities, including...
InfoBytesMississippi banking regulator issues memorandum on pandemic preparedness
On March 14, the Mississippi Department of Banking and Consumer Finance (DBCF) issued a memorandum to remind licensees to review risk management plans, including business continuity and pandemic plans, to ensure continuity of services. In addition, the guidance recommends licensees to: work with...
InfoBytesMichigan Office of Credit Unions issues letter to CEOs and board leaders
On March 13, the Michigan Office of Credit Unions Director Denice Schultheiss issued a letter to credit union CEOs and chairpersons providing guidance for annual meetings and closure notifications during the Covid-19 crisis. The guidance allows credit unions to cancel or postpone annual meetings...
InfoBytesAlabama releases Covid-19 guidance for credit unions
On March 13, the Alabama Credit Union Administration issued guidance for credit unions on pandemic planning. The guidance encourages credit unions to review their business continuity plans and to notify the agency of issues arising from Covid-19, including staffing issues, difficulties obtaining...
InfoBytesWest Virginia regulator permits financial institution employees to work remotely
On March 13, the West Virginia Division of Financial Institutions issued temporary guidance permitting employees of regulated entities to work from home or another remote location approved by the financial institution. Temporary assignments under the guidance are permitted from March 13 through May...
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