- Encourages lenders to work with consumers, including by working out modifications to assist with payments, waiving fees and charges, suspending charged-off accounts, and suspending repossessions of collateral or foreclosure of real property, among other things
- Reminds lenders of legal requirements for using electronic signatures
- Permits lenders to conduct regulated lending activity from unlicensed locations, subject to certain conditions
The guidance is in effect through September 30, 2020, unless withdrawn or revised.
This content originally appeared in the InfoBytes blog, a collection of news and alerts covering legal and regulatory developments for the financial services industry. To read more or have the InfoBytes weekly newsletter delivered to your inbox, please visit infobytesblog.com.