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On January 27, the governor of North Carolina issued Executive Order No. 191 extending the limitations on residential evictions, consistent with the framework set forth in the federal CDC Order, through March 31.
The North Carolina Secretary of State has issued requirements and FAQs for remote video notarizations, which are permissible under North Carolina’s emergency video notarization law from May 2 until August 1. The requirements specify, among other things, the identification and recordkeeping requirements for remote notarizations using video conference technology.
North Carolina Attorney General announces joint relief effort for North Carolinians facing Covid-19 financial hardship
On June 4, the North Carolina attorney general announced the Carolina Relief Plan, a voluntary agreement whereby participating financial institutions will offer certain financial relief to customers facing Covid-19 financial hardships. Relief includes, among other things, allowing eligible customers to request a forbearance on residential mortgage payments not otherwise covered by the CARES Act, assistance for payment extensions of auto loan accounts, and relief from monthly maintenance fees, overdraft fees, and CD early withdrawal penalties. Under the agreement, any participating financial institution also must: (1) offer to place a moratorium on residential mortgage foreclosures and consumer auto repossessions through at least June 30, 2020; (2) refrain from reporting loans subject to Covid-19 accommodations; and (3) inform customers about the assistance they are being offered and of the heightened risk of scams. One financial institution has signed onto the relief plan as of the time of the announcement.
On May 5, the North Carolina governor signed the Covid-19 Recovery Act, which provides certain relief to North Carolinians in response to the Covid-19 crisis. Among other things, the legislation authorizes emergency video notarization and video witnessing during the state of emergency. The legislation also provides limited immunity to essential businesses from civil liability for claims alleged to have been caused by the Covid-19 pandemic. Essential businesses include financial and insurance institutions, as determined by Executive Order 121, and any business that the Department of Revenue determines is essential.
On April 1, the North Carolina governor issued an executive order permitting corporations to hold shareholder meetings by remote communication. The order will remain in effect for 60 days unless rescinded or superseded with another order.
On March 27, the North Carolina Department of Insurance issued guidance clarifying certain debt collection obligations for insurance companies and related entities. Entities involved in collections must provide customers specific relief for payments, submission of claims, and other responsibilities. They must allow consumers, whose requests may have been impacted by the Covid-19 disaster, additional time for their requests to be received and reviewed. Additionally, the timeframes to submit additional information for previously pending requests will also be extended. The guidance is in effect for 60 days.
North Carolina Emergency Management announced that it created a process to vet businesses to determine whether they are essential suppliers that can continue operations if emergency closures are declared. To seek a determination, businesses should email firstname.lastname@example.org, providing: 1. business name; 2. contact information; 3. why it is critical that the business continue operations; 4. business website.
On March 23, the governor of North Carolina issued an executive order prohibiting mass gatherings of 50 or more. The order does not specifically address financial institutions.
On March 15, the North Carolina Administrative Office of the Courts and Chief Justice Beasley issued a memorandum implementing a 30-day postponement (until April 14) on foreclosures and other civil proceedings, subject to limited exceptions.
- Sherry-Maria Safchuk to discuss UDAAP at an American Bar Association webinar
- Jeffrey P. Naimon to discuss "What to expect: The new administration and regulatory changes" at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference
- Jonice Gray Tucker to discuss “The future of fair lending” at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference
- Steven R. vonBerg to discuss "LO comp challenges" at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference
- Michelle L. Rogers to discuss "Major litigation" at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference
- Michelle L. Rogers to discuss “The False Claims Act today” at the Federal Bar Association Qui Tam Section Roundtable