Also: HUD set to ban foreclosures through end of year; FOMC discusses uncertainty, possibility of more accommodation
NAFCU TODAY | The News You Need Daily.
August 20, 2020
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NAFCU opposes another Wall Street power grab [ [link removed] ]
JPMorgan Chase has proposed to the U.S. Postal Service that it be allowed to offer financial services in post offices, according to a report from The Capitol Forum. Additional reports confirm the bank had "preliminary conversations" with the USPS about leasing space to place ATMs.
HUD to extend foreclosure ban [ [link removed] ]
The Department of Housing and Urban Development (HUD) announced it plans to extend its foreclosure and eviction moratorium through the end of the year, according to news reports, as homeowners continue to deal with the impact of the coronavirus pandemic. The moratorium had been set to expire Aug. 31.
COVID-19 uncertainty may lead to more Fed accommodation [ [link removed] ]
According to NAFCU's Curt Long, the "next rate hike is still a long way off" following the release of minutes from the Federal Open Market Committee's (FOMC) July videoconference meeting. Members flagged remaining uncertainty about the path of the coronavirus that "will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term."
CFPB adds 60 days to comment period on ECOA, Reg B [ [link removed] ]
As the CFPB gathers feedback on ways to ensure a regulatory environment that expands access to credit and ensures all consumers and communities are protected from discriminatory practices in all aspects of a credit transaction, the bureau is extending the comment period to Dec. 1.
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