There are “major shortcomings” in how some big U.S. banks are providing financial relief for customers and instituting safety measures for front-line workers during the coronavirus pandemic, according to a coalition of labor unions, employees and advocacy groups.
The Federal Reserve on Thursday temporarily restricted shareholder payouts by the nation’s biggest banks, barring them from buying back their own stocks or increasing dividend payments in the third quarter as regulators try to ensure banks remain strong enough to keep lending through the pandemic-induced downturn.
On April 17, 2020, 22 days after enactment of the CARES Act, HUD OIG reviewed the public facing websites of the top 30 servicers to identify readily accessible information for borrowers related to the COVID-19 crisis
