A new report from the Government Accountability Office (GAO) on federal programs to combat the coronavirus crisis specifically calls out the need for improved fraud detection and prevention efforts in the Paycheck Protection Program.

The Consumer Financial Protection Bureau filed suit in New York against a financial-services company doing business as Loan Doctor, saying the company took money from healthcare professionals who expected to invest in a savings certificate of deposit account, but never did .

In the wake of the resolution of the court case challenging the National Credit Union Administration’s (NCUA) field of membership rule, the agency announced it would work to help credit unions impacted by the process.

The Consumer Financial Protection Bureau has finalized as proposed its amendments to the 2017 small-dollar lending rule, rescinding the ability to repay provisions of the original rule and all the determinations that went along with it.

LoanLogics has released a whitepaper explaining how mortgage lenders can employ digital labor more effectively with human staff, more flexibly as their digital workforce grows and more strategically using verified loan file data to power even more sophisticated automated solutions.

The Consumer Financial Protection Bureau laid out its rulemaking plans for the next six months, showing it is pushing forward on activity during the pandemic – although it does not expect to have much finalized before the end of the year.

The National Credit Union Administration released its latest quarterly report on the credit union industry, finding that assets and deposits in federally insured credit unions rose in the first quarter of 2020 from a year earlier.

Federal financial regulators issued a statement to institutions on managing the transition away from LIBOR, encouraging them to continue work to transition to alternative reference rates.

Record-low mortgage rates continued in the past week, and with that, homeowners marked historically high levels of tappable equity and refinance ability.