Latest Banking and credit regulation News

Lawmakers considering emergency bills for COVID-19 fight

Mar. 29, 2020 2:11 PM EDT

SIOUX FALLS, S.D. (AP) — Gov. Kristi Noem has asked South Dakota lawmakers to act Monday on 10 pieces of emergency legislation aimed at a months-long COVID-19 fight. The emergency legislation covers a range of issues, including pushing local elections back until at least June, allowing the secretary of...

President Donald Trump speaks before he signs the coronavirus stimulus relief package in the Oval Office at the White House, Friday, March 27, 2020, in Washington. Listening are from left, Larry Kudlow, White House chief economic adviser, Treasury Secretary Steven Mnuchin, Senate Majority Leader Mitch McConnell, R-Ky., and House Minority Leader Kevin McCarty of Calif. (AP Photo/Evan Vucci)

Trump signs $2.2T stimulus after swift congressional votes

Mar. 28, 2020 12:09 AM EDT

WASHINGTON (AP) — President Donald Trump signed an unprecedented $2.2 trillion economic rescue package into law after swift and near-unanimous action by Congress to support businesses, rush resources to overburdened health care providers and help struggling families during the deepening coronavirus...

House Speaker Nancy Pelosi of Calif. arrives to read a statement outside her office on Capitol Hill, Monday, March 23, 2020, in Washington. (AP Photo/Andrew Harnik, Pool)

Washington set to deliver $2.2 trillion virus rescue bill

Mar. 26, 2020 9:36 PM EDT

WASHINGTON (AP) — With rare bipartisanship and speed, Washington is about to deliver massive, unprecedented legislation to speed help to individuals and businesses as the coronavirus pandemic takes a devastating toll on the U.S. economy and health care system. The House is set to pass the sprawling, $2.2...

Senate Majority Leader Mitch McConnell of Ky. gives a thumbs up as he leaves the Senate chamber on Capitol Hill in Washington, Wednesday, March 25, 2020, where a deal has been reached on a coronavirus bill. The 2 trillion dollar stimulus bill is expected to be voted on in the Senate Wednesday. (AP Photo/Andrew Harnik)

Airlines, others to benefit from $2 trillion rescue bill

Mar. 25, 2020 6:30 PM EDT

The White House and Senate leaders agreed early Wednesday on a $2 trillion economic rescue package, the largest in the country's history. The bill comes in response to the viral pandemic that has shut down businesses and crippled economies around the globe. The bill would give direct payments to most American...

A Chase bank employee, right, disinfects the branches ATMs to fend off coronavirus as a customer uses another along Main St., Tuesday, March 24, 2020, in the Flushing neighborhood of Queens borough of New York. (AP Photo/Mary Altaffer)

Fed to suspend some bank supervision during viral outbreak

Mar. 24, 2020 6:47 PM EDT

WASHINGTON (AP) — The Federal Reserve said it will suspend some of its bank supervisory activities to give banks more leeway in dealing with financially strapped customers. The Fed said it will cease nearly all examinations for banks with less than $100 billion in total assets, except for those reviews...

FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs.  The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak.  (AP Photo/Jacquelyn Martin, File)

Fed makes strongest bid yet to protect firms and governments

Mar. 23, 2020 9:10 PM EDT

WASHINGTON (AP) — The Federal Reserve is unleashing its boldest effort yet to protect the U.S. economy from the coronavirus by helping companies and governments pay their bills and survive a devastating crisis. With lending in Treasury and mortgage markets threatening to shut down, the Fed announced an...

Dolores Ginn and Garry Brault, both of Lewiston, Maine, stand apart from one another as they wait for the bus at the Oak Street parking garage in downtown Lewiston, Maine, on Wednesday, March 18, 2020. Brault said that he just came from the grocery store where many of the shelves are bare. Ginn said that she is 86-years-old and not worried at all about the coronavirus pandemic. (Daryn Slover/Sun Journal via AP)

Massachusetts closes day cares, Connecticut courts limited

Mar. 18, 2020 5:26 PM EDT

Developments from around New England on the new coronavirus pandemic. For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, or death. The...

FDIC warns of scams saying banks in trouble from outbreak

Mar. 18, 2020 4:27 PM EDT

NEW YORK (AP) — One of the nation's bank regulators is urging Americans not to withdraw large sums of cash and to beware of fraudsters claiming that banks are limiting customers' access to their money. The Federal Deposit Insurance Corporation issued a statement Wednesday warning about an increase in...

Walz signs farm and disaster aid; expansion of Highway 14

Mar. 17, 2020 7:06 PM EDT

ST. PAUL, Minn. (AP) — Gov. Tim Walz signed three bills important to rural Minnesota on Tuesday, in addition to a $200 million package to help the state's health care system combat the COVID-19 pandemic. One of the laws will offer $50 million in low-interest loans to Minnesota farmers via the Rural Finance...

People wearing face masks exercise on the shore of an artificial lake, in Western Tehran, Iran, Sunday, March 15, 2020. Many people in Tehran shrugged off warnings over the new coronavirus as authorities complained that most people in the capital are not treating the crisis seriously enough. For most people, the new coronavirus causes only mild or moderate symptoms. For some it can cause more severe illness. (AP Photo/Vahid Salemi)

Iran reports more than 100 new virus deaths as fears mount

Mar. 15, 2020 5:23 PM EDT

TEHRAN, Iran (AP) — The official leading Iran's response to the new coronavirus acknowledged Sunday that the pandemic could overwhelm health facilities in his country, which is battling the worst outbreak in the Middle East while under heavy U.S. sanctions. Elsewhere in the region, Lebanon ordered...