Discrimination and Bias in Residential Lending
The Importance of Assessment Areas
In July 2023, the Office of Management & Budget published an update to “Core Based Statistical Areas, Metropolitan Divisions, and Combined Statistical Areas”. That document contains the latest definitions of Metropolitan...more
The OCC, FDIC, NCUA and Fed have adopted a new Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts. The new policy statement updates, expands on and supersedes existing guidance from 2009,...more
At the onset of the pandemic, many financial institutions offered credit accommodations, such as short-term deferrals and other loan modifications, to borrowers in response to the significant adverse impact caused by...more
On August 3, 2020, the Federal Financial Institutions Examination Council1 (FFIEC) issued a new joint statement of principles for banks to consider while working with their loan customers as the end of COVID-19 initial loan...more
On August 3, 2020, the Federal Financial Institutions Examination Council (FFIEC) issued a Joint Statement on Additional Loan Accommodations Related to COVID-19 regarding loans that are near the end of an initial loan...more
As the coronavirus (COVID-19) pandemic continues, loan accommodation periods first instituted under the CARES Act in the spring are beginning to expire. Our Financial Services & Products Group analyzes the latest guidance...more
On August 3, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) issued a joint statement to provide prudent risk management and consumer protection principles for financial institutions to consider when...more
The Board of Governors of the Federal Reserve System (the Fed) recently released terms for its Main Street Lending Program (MSLP), a program authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)...more
Editor's Note - Supreme Court Limits SEC’s Disgorgement Powers. On June 5, the United States Supreme Court ruled unanimously in Kokesh v. Securities and Exchange Commission that disgorgement in a Securities and Exchange...more
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. Headlines - 1. DOB Revises Guidance on Branch and Main Office Notices and Applications - 2. FDIC Updates...more
Many of us in banking were glad to see 2012 come to a close and hopeful for a better 2013. To the extent that better means fewer regulatory issues, now is the time to prepare your bank’s Home Mortgage Disclosure Act (“HMDA”)...more