CARES Act | Important CARES Act Provisions for Financial Institutions

The CARES Act includes actions specifically designed to provide various levels of temporary regulatory relief to financial institutions and to support the financial services industry as a whole. Following are the key areas in which the CARES Act provides relief to the financial services industry:

Up to $500 Billion in Emergency Liquidity for Eligible Businesses

Filed under:
USA, Banking, Insolvency & Restructuring, Kilpatrick Townsend & Stockton LLP, Coronavirus, Federal Deposit Insurance Corporation (USA), US GAAP, CARES Act 2020 (USA), US Secretary of the Treasury
Authors:
Gary R. Bronstein , Christina M. Gattuso , Edward G. Olifer , Stephen F. Donahoe , Dongyu Eddie Wang
Location:
USA
Firm:
Kilpatrick Townsend & Stockton LLP
CFPB Finalizes Further Changes to Mortgage Servicing Rules

On March 8, 2018, the Consumer Financial Protection Bureau (CFPB or Bureau) finalized certain changes to its mortgage servicing rules. The Bureau issued a final rule1 to provide mortgage servicers with more flexibility and certainty regarding requirements to communicate with borrowers under the CFPB’s 2016 mortgage servicing amendments. 

Background

Filed under:
USA, Banking, Insolvency & Restructuring, Real Estate, Kilpatrick Townsend & Stockton LLP, Bankruptcy, Debtor, Consumer Financial Protection Bureau (USA), Truth in Lending Act 1968 (USA)
Authors:
Gary R. Bronstein , Christina M. Gattuso , Aaron M. Kaslow
Location:
USA
Firm:
Kilpatrick Townsend & Stockton LLP