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.
Special Alert: CFPB redefines Qualified Mortgage; “GSE Patch” to expire
The Consumer Financial Protection Bureau last week released two final rules further defining what types of loans can be a “qualified mortgage loan” for purposes of the bureau’s Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule). The General QM Final Rule substantially revamps the general rules...
Special AlertsNevada governor issues an emergency directive regarding evictions
On December 14, the governor of Nevada issued Declaration of Emergency Directive 036 , relating to the implementation of Senate Bill 1 (previously covered here ). The directive provides that, effective December 15 through March 31, 2021, certain residential unlawful detainer or summary eviction...
InfoBytesJeffrey P. Naimon quoted in American Banker article, "A Biden CFPB could put pressure on mortgage servicers”
Jeffrey P. Naimon was quoted in an American Banker article, "A Biden CFPB could put pressure on mortgage servicers,” which discussed how mortgage servicers could face increased scrutiny in 2021 as federal and state agencies are expected to exert pressure on lenders that fail to work with borrowers...
In The NewsBipartisan Covid-19 legislation includes new PPP funding
On December 14, congressional lawmakers released the details of bipartisan Covid-19 relief legislation (and accompanying memorandum ), titled “the Emergency Coronavirus Relief Act of 2020,” which would provide $300 billion to the U.S. Small Business Administration to allow for second forgivable...
InfoBytesIllinois reissues and extends several Covid-19 executive orders
On December 11, the governor of Illinois issued Executive Order 2020-74 , which extends several executive orders through January 9, 2021 (previously covered here , here , here , and here ). Among other things, the order extends: (i) Executive Order 2020-07 regarding in-person meeting requirements...
InfoBytesCFPB releases fall 2020 rulemaking agenda
On December 11, the CFPB released its fall 2020 rulemaking agenda . According to a Bureau announcement, the information details the regulatory matters that the Bureau “expect[s] to focus on” between November 2020 and November 2021. The announcement notes that the Bureau will also continue to...
InfoBytesVirginia issues modified stay at home order identifying banks and financial institution as essential retail businesses
On December 10, the governor of Virginia issued a modified stay at home order limiting travel and gatherings for Virginia residents and operations for certain businesses. However, banks and other financial institutions with retail functions are considered essential retail businesses and may...
InfoBytesFHFA extends Covid-19 flexibilities until January 31
On December 10, the FHFA announced the extension of several loan origination guidelines put in place to assist borrowers during the Covid-19 pandemic. Specifically, FHFA extended until January 31 existing guidelines related to: (i) alternative appraisal requirements on purchase and rate term...
InfoBytesWaters recommends Biden reverse several of Trump's actions
On December 4, Chairman of the House Financial Services Committee, Maxine Waters (D-CA) sent a letter to President-Elect Biden providing a list of regulations and other executive actions taken by the Trump administration that the Biden administration should immediately reverse, as well as...
InfoBytesRestaurant chain to pay SEC $125,000 for misleading Covid-19 disclosures
On December 4, the SEC announced a settlement with a national restaurant chain for allegedly making misleading disclosures about the impact of the Covid-19 pandemic on its business operations. According to the order , in the restaurant’s Form 8-Ks filed on March 23 and April 3, the restaurant...
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