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On April 1, Utah Governor Gary Herbert issued an order instituting a moratorium on residential evictions for individuals out of work or otherwise unable to pay rent as a direct result of Covid-19 provided certain conditions are met. The temporary order went into effect immediately and is effective through May 15. Herbert’s announcement did not institute rent forgiveness during the leniency period.
On March 12, the Utah Department of Financial Institutions sent an email permitting regulated entities to temporarily reduce or suspend operations or reduce operating hours without Department approval so long as the entity provides adequate notice to customers and sends an email to the Department informing it of the actions taken.
The Utah Department of Commerce, Division of Real Estate announced on their website that due to Covid-19 concerns, real estate and appraisal licensees that have not completed their RAP Back Fingerprinting enrollment in advance of their March or April 2020 license renewal will have their license expirations temporarily postponed until further notice.
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, late payment fees), increase ATM daily cash withdrawal limits, ease restrictions on cashing out-of-state and non-member checks, increase credit card limits for credit worthy borrowers, and offer payment accommodations. Prudent efforts to modify the terms on existing loans for affected members will not be subject to examiner criticism and, generally, the department supports and will not criticize efforts to accommodate members in a safe and sound manner. The guidance also addresses: (i) financial condition review, supervisory response, and regulatory relief; (ii) regulatory reporting requirements; and (iii) alternative service options.
- Jonice Gray Tucker to discuss “How the new administration sets the tone for 2021” at the American Conference Institute Legal, Regulatory and Compliance Forum on Fintech & Emerging Payment Systems
- Sherry-Maria Safchuk to discuss UDAAP in consumer finance 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