On behalf of its member regulators, the Federal Financial Institutions Examination Council (FFIEC) has issued guidance for financial institutions to consider while working with borrowers as initial coronavirus-related loan accommodation periods come to an end.
The FFIEC noted that COVID-19 has had a significant adverse impact on consumers, businesses, financial institutions and the economy.
Read on for the joint statement from the Consumer Financial Protection Bureau, Federal Deposit Insurance Corp., Federal Reserve, National Credit Union Administration, the Office of the Comptroller of the Currency and the State Liaison Committee.
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