Covid-19 News & Analysis
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Oregon authorizes remote notarizations through July 2021
On June 30, the Oregon governor signed HB 4212A into law, which authorizes remote online notarization through July 2021. Under the new law, a commissioned notary public may use audio-visual technology to perform notarizations, subject to certain requirements, limitations and conditions. The Oregon...
InfoBytesOklahoma regulator amends working from home guidance
On June 30, the Oklahoma Department of Consumer Credit extended, for the third time, its interim guidance to regulated entities on working from home (see here , here , and here for previous coverage). The guidance sets forth data security standards that regulated entities must meet in order for the...
InfoBytesFHA issues mortgagee letter extending guidance on employment reverification and appraisals
On June 29, the FHA issued Mortgagee Letter 2020-20 , which re-extends the effective date of Mortgagee Letter 2020-05, previously covered here and here . The re-extension of appraisal guidance in Mortgagee letter 2020-05 and of re-verification of employment guidance in Mortgagee Letter 2020-05 are...
InfoBytesFINRA updates guidance on fingerprinting requirements
FINRA has updated its frequently asked questions guidance regarding relief from certain fingerprinting requirements (previously covered here ). The guidance notes that, on June 27, the SEC extended its order providing temporary relief from fingerprinting requirements of the Securities Exchange Act...
InfoBytesNew York Department of Financial Services adopts emergency measure to provide relief to insureds
On June 28, the New York Department of Financial Services adopted an emergency measure that amends the insurance regulations to provide relief to policyholders, contract holders, and insureds who can demonstrate financial hardship relating to the Covid-19 pandemic. Among other things, the emergency...
InfoBytesVA issues lender guidance on Covid-19
On June 30, the Department of Veterans Affairs issued Circular 26-20-25 , which provides guidance on the impact of the CARES Act foreclosure protections on VA-guaranteed purchase and refinance transactions. The circular states that for purchase and cash-out refinance loans, the “VA will not...
InfoBytesNYDFS discusses state CRA exams and Covid-19 considerations
On June 30, NYDFS issued two industry letters aimed at reminding New York regulated banking institutions of their responsibilities under New York State’s Community Reinvestment Act (NYCRA) with respect to minority-and women-owned businesses, as well as opportunities to receive NYCRA credit for...
InfoBytesCalifornia governor issues executive order extending previous relief orders
On June 30, the California governor signed Executive Order N-17-20 (previously discussed here ), which extends authorization for local governments to halt evictions for renters impacted by the Covid-19 pandemic through September 30. Among other things, the executive order also extends the deadlines...
InfoBytesMassachusetts Securities Division issues emergency notice easing filing requirements for securities filings
On June 29, the Massachusetts Securities Division issued an emergency notice providing temporary relief from signature and notarization requirements in corporate finance filings, and from certain additional requirements relating to the registration of financial professionals. Specifically, the...
InfoBytesColorado enacts bill limiting certain debt collection activity
On June 29, the Colorado governor signed Bill 20-211 , which places limitations on certain debt collections. Among other things, the bill prohibits a judgment creditor from initiating a new extraordinary collection action (i.e. a garnishment, attachment, levy or execution to collect or enforce a...
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