The federal financial institution regulatory agencies and the state banking regulators have issued an interagency statement to guide financial institutions on how to move forward in the wake of the public health crisis.
Among the guidance, the agencies encourage institutions “to work prudently with borrowers.”
Read on for more from the joint statement by the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corp., National Credit Union Administration, Office of the Comptroller of the Currency, Consumer Financial Protection Bureau and the Conference of State Bank Supervisors.
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