Coronavirus Impact
Coronavirus Impact
Consumer Financial Protection Bureau Headquarters Ahead Of House Financial Services Committee Hearing

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

June 23
1 Min Read

Activity in the Paycheck Protection Program has waned, but some argue that many small businesses, especially those owned by minorities, will miss out if the June 30 application deadline isn't extended.

June 19
3 Min Read
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Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.

June 19
2 Min Read
As of now, Sen. Pat Toomey, R-Pa., and Reps. French Hill, R-Ark., Donna Shalala, D-Fla., and Bharat Ramamurti, a former adviser to Sen. Elizabeth Warren, D-Mass., have been appointed to serve on the commission.

The inability of Democrats and Republicans to agree on a chairperson and lack of sufficient personnel have made it harder for the commission to do its job — hold Treasury and the Fed accountable for implementing the coronavirus relief law, observers say.

June 18
5 Min Read

The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic.

June 17
1 Min Read
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The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists.

June 16
3 Min Read
“I'd say we were more worried a couple of months ago about stresses building" in mortgage servicing "than we are now,” said Fed Chair Jerome Powell.

The Fed chairman updated senators about the agency's new credit facility for midsize firms struggling in the pandemic. He also left open the possibility of additional stress tests to gauge the industry’s coronavirus response.

June 16
3 Min Read
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