Coronavirus Impact
Coronavirus Impact
Gov. Gavin Newsom proposed the creation of the Department of Financial Protection and Innovation, or DFPI, to be housed within the existing Department of Business Oversight.

A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.

June 11
5 Min Read

As revenue-starved retailers fall further behind on rent payments, landlords' cash flow will be strained, and defaults on commercial real estate loans could rise.

June 10
5 Min Read
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The Federal Housing Administration's move to insure loans with forbearance could help support homeownership opportunities constrained by the coronavirus if one change was made to it, trade groups said.

June 10
2 Min Read
"Lots and lots of companies are getting financed, the banks are lending, the markets are open [and] you have a much easier lending climate certainly than we had in February and March,” said Fed Chairman Jerome Powell.

The central bank is only now nearing the launch of the credit facilities after the effort was announced in April. But Chairman Jerome Powell said loans have been available through other means.

June 10
3 Min Read

Unlike in previous years, the results from two different evaluations will be released simultaneously and will include an assessment of bank capital under coronavirus-related scenarios.

June 9
1 Min Read
“It's obviously going to be very important for us to monitor the situation, see how much recovery is going on, and obviously we are not going to sit idly by and watch millions of Americans suffer for something that's not their fault,” said HUD Secretary Ben Carson.

Some lawmakers fear that when forbearance plans and enhanced unemployment coverage expire, the consequences for mortgage borrowers still affected by the pandemic will be severe.

June 9
4 Min Read
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If delinquency rates rise, all four stand-alone firms would have a capital shortfall.

June 9
2 Min Read
“Supporting small and mid-sized businesses so they are ready to reopen and rehire workers will help foster a broad-based economic recovery,” Fed Chair Jerome Powell said in a press release.

The central bank will increase support for credit issued through the Main Street Lending Program while providing midsize firms with more flexibility on the amounts they receive.

June 8
2 Min Read
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