Finance

Regulators urge banks to work with customers during coronavirus crisis

0


U.S. bank regulators urged banks to work with their customers affected by the coronavirus.

The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said in a joint release Sunday evening they “will not criticize institutions for working with borrowers.”

They added they will not direct supervised institutions to categorize loan modifications as “troubled debt restructurings.”

“The agencies consider such proactive actions to be in the best interest of institutions, their borrowers, and the economy,” the release said. It was also signed by National Credit Union Administration and the Consumer Financial Protection Bureau.



Source cnbc.com

Earnings are about to do something they haven’t done since 2008

Previous article

Government budget deficit is about to explode to fight the coronavirus

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Finance