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State Attorneys General, Lawmakers and Banking Groups Urge Congress to Exempt Stimulus Checks from Garnishments

On Monday, April 13, 2020, the Attorneys General of 25 States submitted a letter to the U.S. Department of Treasury urging Secretary Mnuchin to take action to ensure that relief payments issued to consumers pursuant to the...more

Financial Regulators Update Previous Statement on Loan Modifications and Reporting Pursuant to CARES Act

On April 7, 2020, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer...more

CFPB Releases COVID-19 Credit Reporting Guidance

On April 1, 2020, the Consumer Financial Protection Bureau (“CFPB”) released a policy statement providing guidance on credit reporting companies’ and furnishers’ responsibilities during COVID-19. The CFPB’s policy statement...more

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