American Financial Services Association - COVID-19 Coronavirus Resources

The American Financial Services Association has flagged the below resources for members. If you have press releases or updated information that you would like AFSA to share and promote online or via our social media handles, please contact Ed McFadden (emcfadden@afsamail.org) or Dan Bucherer (dbucherer@afsamail.org).

The Treasury Department released definitive guidance related to the essential role financial services organizations play during this period of uncertainty around COVID-19. To that end, AFSA has created an Essential Business Notification you may which to display in your business location.

State Resources

Work from Home Resources

COVID-19 State Tracking Charts (Updated Continually)

Coronavirus Credit Related Policy Chart

White Papers

Advocacy

AFSA Work from Home Model Legislation

Work From Home Letters

Alabama State Banking Department (July 29, 2020)
Alaska Department of Commerce, Community, & Economic Development (July 27, 2020)
Arizona Department of Financial Institutions (May 28, 2020)
Arkansas Securities Department (July 27, 2020)
Arkansas State Board of Collection Agencies (September 23, 2020)
California Department of Business Oversight (July 8, 2020)
Colorado Attorney General Consumer Credit Unit (July 31, 2020)
Connecticut Department of Banking (July 1, 2020)
District of Columbia Department of Insurance, Securities and Banking (August 4, 2020)
Georgia Department of Banking and Finance (August 10, 2020)
Hawaii Division of Financial Institutions (August 13, 2020)
Idaho Department of Finance (July 8, 2020)
Illinois Department of Financial and Professional Regulation (July 9, 2020)
Indiana Department of Financial Institutions (July 13, 2020)
Iowa Division of Banks (July 27, 2020)
Kansas Office of the State Bank Commissioner (June 25, 2020)
Louisiana Office of Financial Institutions (June 25, 2020)
Maine Bureau of Consumer Credit Protection (June 25, 2020)
Maryland Commissioner of Financial Regulation (July 17, 2020)
Massachusetts Division of Banks (July 30, 2020)
Michigan Department of Insurance and Financial Services (July 27, 2020)
Minnesota Financial Institutions Division (July 20, 2020)
Mississippi Department of Banking and Consumer Finance (July 24, 2020)
Missouri Division of Finance (July 30, 2020)
Montana Division of Banking & Financial Institutions (July 27, 2020)
Nebraska Department of Banking and Finance (August 4, 2020)
Nevada Financial Institutions Division (July 22, 2020)
Nevada Mortgage Lending Division (July 22, 2020)
New Hampshire Banking Department (August 4, 2020)
New Jersey Division of Banking (July 30, 2020)
New York Department of Financial Services (July 30, 2020)
North Carolina Commissioner of Banks (August 13, 2020)
North Dakota Department of Financial Institutions (August 4, 2020)
Ohio Department of Commerce (August 10, 2020)
Oklahoma Department of Consumer Credit – Traditional Installment Lending (August 31, 2020)
Oklahoma Department of Commerce – Other Licensees (August 31, 2020)
Oregon Division of Financial Regulation (July 23, 2020)
Pennsylvania Department Of Banking & Securities (July 30, 2020)
Rhode Island Department of Business Regulation (August 4, 2020)
South Carolina Consumer Financial Division (July 6, 2020)
South Carolina Department of Consumer Affairs (July 3, 2020)
South Dakota Division of Banking (June 25, 2020)
Tennessee Department of Financial Institutions (July 27, 2020)
Texas Department of Savings & Mortgage Lending (June 25, 2020)
Texas Office of Consumer Credit Commissioner (June 25, 2020)
Vermont Department of Financial Regulation (August 4, 2020)
Virginia Bureau of Financial Institutions (July 2, 2020)
Washington State Department of Financial Institutions (July 30, 2020)
West Virginia Division of Financial Institutions (July 1, 2020)
Wisconsin Department of Financial Institutions (July 29, 2020)
Wyoming Division of Banking (August 4, 2020)

Other Letters

Joint Comment Letter – Oregon HB 4204 / HB 4213 – Mortgage Relief (August 13, 2020)
Joint Comment Letter – California AB 1436 – Mortgage Relief (August 10, 2020)
Joint Comment Letter – California AB 1436 – Mortgage Relief (August 5, 2020)
AFSA Comment Letter – Nationwide Multistate Licensing System Ombudsman Meeting Agenda Request (July 16, 2020)
AFSA Comment Letter – District of Columbia B23-0776/Act A23-0332 – Credit Reporting /a> (July 15, 2020)

Joint Comment Letter – DC Credit Reporting Bill Amendments (June 9, 2020)
AFSA Comment Letter – Illinois Executive Order 2020-16 – Vehicle Repossession (May 29, 2020)
Joint Comment Letter – California AB 2501 – COVID-19 Mortgage Relief (May 27, 2020)
AFSA Comment Letter – New York SB 8118-B – Credit Reporting (May 20, 2020)
AFSA Comment Letter – Michigan Executive Order 20-77 – Repossession Restrictions (May 18, 2020)
AFSA Testimony – California AB 2501 – COVID-19 Consumer Relief (May 18, 2020)
Joint Comment Letter – California AB 2501 – COVID-19 Consumer Relief (May 17, 2020)
AFSA Comment Letter – District of Columbia B23-0751 – Credit Reporting (May 15, 2020)
Joint Comment Letter – California AB 2501 – COVID-19 Vehicle Finance Relief (May 14, 2020)
AFSA Comment Letter – California AB 2501 – COVID-19 Consumer Relief (May 14, 2020)
Joint Comment Letter – California AB 2501 – COVID-19 Consumer Relief (May 14, 2020)
AFSA Comment Letter New Mexico Financial Institutions Division Memo re: Curbside Services (May 7, 2020)
AFSA Testimony – New Jersey AB 3908 – COVID-19 Financial Protection (May 7, 2020)
AFSA Testimony – New Jersey SB 2330 – COVID-19 Financial Protection (May 7, 2020)
AFSA Comment Letter – New Jersey AB 3908 – COVID-19 Finacial Protection (May 1, 2020)
AFSA Comment Letter – Los Angeles City Council Motion 20-0418 – Safer at Home Debt Collection (May 1, 2020)
AFSA Comment Letter – New Mexico Public Regulation Commission – Repossessions (April 29, 2020)
AFSA Comment Letter – Massachusetts Division of Banks Request for Information (April 24, 2020)
AFSA Comment Letter -Alaska SB 241 / Chapter 10 – Vehicle Repossessions (April 23, 2020)
AFSA Comment Letter – Massachusetts HD 5014 – COVID-19 Emergency Financial Protections (April 21, 2020)
AFSA Comment Letter – District of Columbia B23-0733/Act A23-0286 – Vehicle Repossessions (April 17, 2020)
Joint Comment Letter – American Association of Motor Vehicle Administrators Best Practices (April 17, 2020)
AFSA Comment Letter – New Jersey SB 2330 – COVID-19 Financial Security for Consumers Act (April 15, 2020)
AFSA Comment Letter – Massachusetts Attorney General Emergency Debt Collection Regulations – Vehicle Repossessions (April 8, 2020)
AFSA Comment Letter – Maryland Governor Executive Order 20-04-03-01 – Vehicle Repossessions (April 8, 2020)
AFSA Comment Letter – Rhode Island Governor Stay at Home Order (April 7, 2020)
AFSA Comment Letter – New Mexico Non-Bank Loan Servicing (April 7, 2020)
AFSA Comment Letter – New Mexico Safe and Affordable Credit Access and Servicing During the Coronavirus Pandemic (April 6, 2020)
AFSA Comment Letter – South Dakota Division of Banking COVID-19 Information Request (April 2, 2020)
AFSA Comment Letter – Illinois Governor Executive Order 2020-16 – Vehicle Repossessions (April 1, 2020)
AFSA Comment Letter – Kansas Governor Stay at Home Order (March 31, 2020)
AFSA Comment Letter – Texas Governor Stay at Home Order (March 24, 2020)
AFSA Comment Letter – Dallas County Stay at Home Order (March 24, 2020)
AFSA Comment Letter – New Mexico Stay at Home Order (March 24, 2020)
AFSA Comment Letter – Michigan Department of Insurance and Financial Services Licensee Survey (March 19, 2020)
AFSA Comment Letter – New York Department of Financial Services Coronavirus Guidance (March 13, 2020)
Governor Alert: The Essential Role of Financial Services

Other State Resources

National Resources

What the US Government is Doing

Legislation Enacted into Law

Paycheck Protection Program and Health Care Enhancement Act, H.R. 266 (Bill Text) – Signed into law on April 24, 2020
Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748 (Bill Text) – Signed into law on March 27, 2020
Families First Coronavirus Response Act, H.R. 6201 (Bill Text) – Signed into law on March 18, 2020
Coronavirus Preparedness and Response Supplemental Appropriations Act, H.R. 6074 (Bill Text) – Signed into law on March 6, 2020

Legislative Proposals

Senator Brown’s legislation to ban collections during COVID-19 – Introduced March 22, 2020
Senator Cramer and Senator Warner’s legislation to expand use of remote online notarizations – Introduced March 18, 2020
Chairwoman Waters’ Plan for Comprehensive Fiscal Stimulus and Public Policy Response to Coronavirus Pandemic – Proposed March 18, 2020
Senator Schatz’s legislation to suspend negative credit reporting during coronavirus outbreak – Introduced March 17, 2020
Senator Cramer’s legislation to delay CECL – Introduced March 16, 2020

Centers for Disease Control and Prevention (CDC)

CDC COVID-19 Information
- The CDC has a COVID-19 FAQs page that includes helpful information on how to protect yourself and loved ones from COVID-19, along with steps to take if you think you are sick. Additionally, the CDC tracks the spread of COVID-19.

Consumer Financial Protection Bureau (CFPB)

A guide to COVID-19 economic stimulus relief Posted April 15, 2020
Planning your finances for an uncertain future Posted April 22, 2020
Tools to help when you can’t pay your bills Posted April 17, 2020
Help for small businesses during the COVID-19 pandemic Posted April 6, 2020
CFPB Issues Credit Reporting Guidance During COVID-19 Pandemic Posted April 1, 2020
CFPB Provides Flexibility During COVID-19 Pandemic Posted March 26,
Protecting your finances during the coronavirus pandemic Posted March 25, 2020
Coronavirus and dealing with debt: Tips to help ease the impact Posted March 20, 2020
Protecting your credit during the coronavirus pandemic Posted March 19, 2020
Buckley LLP: Fed agencies issue COVID-19 guidance Posted March 18, 2020
The CFPB continues to help consumers make informed financial decisions with up-to-date information and resources Posted March 17, 2020
Buckley LLP: regulatory agencies issue pandemic planning statement Posted March 13, 2020

Department of Homeland Security (DHS)

Department of the Treasury

Declaration of Critical Infrastructure for Financial Services Posted March 22, 2020

Federal Deposit Insurance Corporation (FDIC)

FDIC: Coronavirus (COVID-19) Information for Bankers and Consumers Posted April 29, 2020
Frequently asked questions: For financial institutions affected and consumers affected by the coronavirus Posted March 19, 2020
FDIC Chairman urges FASB to delay certain accounting rules amid pandemic Posted March 19, 2020
FDIC announces steps to protect banks and consumers and to continue operations Posted March 16, 2020
Regulatory Relief: Working with customers affected by the coronavirus Posted March 13, 2020

Federal Financial Institutions Examination Council (FFIEC) and Interagency Statements

Agencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus Posted April 7, 2020
Federal Agencies encourage banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small-buisnesses affected by COVID-19 Posted March 26, 2020
Financial Regulators Highlight Coordination and Collaboration of Efforts to Address COVID-19 Posted March 25, 2020
Interagency statement on loan modifications and reporting for financial institutions working with customers affected by the coronavirus Posted March 22, 2020
Agencies provide additional information to encourage financial institutions to work with borrowers affected by COVID-19 Posted March 22, 2020
Interagency statement on pandemic planning Posted March 20, 2020

Federal Reserve

Federal Reserve issues interim final rule to delay regulatory capital rule of CECL for banks Posted March 27, 2020
Federal Reserve announces extensive new measures to support the economy Posted March 23, 2020
Federal Reserve Board announces establishment of a commercial paper funding facility to support the flow of credit to households and businesses Posted March 17, 2020
Federal banking agencies provide banks additional flexibility to support households and businesses Posted March 17, 2020
Agencies encourage financial institutions to meet financial needs of customers and members affected by coronavirus Posted March 17, 2020

Office of the Comptroller of the Currency (OCC)

OCC COVID-19 FAQs Posted April 29, 2020
OCC Bulletin: Pandemic Planning: Joint statement on community reinvestment act consideration for activities in response to COVID-19 Posted March 19, 2020
Inter-agency examiner guidance for institutions affected by major disasters Posted March 17, 2020

Business Operations Resources

U.S. Small Business Administration COVID-19 Relief Options Posted April 3, 2020
- This page provides helpful information on how to apply for various new programs established by the CARES Act including the Paycheck Protection Program, EIDL Loan Advance, SBA Express Bridge Loans, and SBA Debt Relief.
U.S. Postal Service (USPS) statement on coronavirus Posted April 2, 2020
U.S. Department of Labor Announces New Paid Sick Leave and Expanded Family and Medical Leave Implementation Posted April 1, 2020
U.S. Department of Labor, Wage and Hour Division COVID-19 page Posted April 1, 2020
- This page hosts helpful information on the Fair Labor Standard Act and Family Medical Leave Act issues.
U.S. Small Business Administration Disaster Loan Assistance: Federal disaster loans for businesses, private nonprofits, homeowners, and renters Posted March 27, 2020
- This page provides resources for businesses, private nonprofits, homeowners, and renters on how to apply for SBA disaster loans.
U.S. Small Business Administration guidance and loan resources Posted March 27, 2020
- This page provides information on financial assistance programs available from the Small Business Administration.
U.S. Department of Labor, Wage and Hour Division: Families First Coronavirus Response Act: Questions and Answers Posted March 26, 2020
CDC COVID-19 interim guidance for businesses & employers Posted March 21, 2020
- The CDC has issued guidance to business and employers on how to plan, prepare, and respond to COVID-19. This guidance includes recommended strategies for employers to help prevent the spread of COVID-19 and developing an infectious disease outbreak response plan.
Occupational Safety and Health Administration (OSHA) guidance on preparing workplaces for COVID-19 Posted March 20, 2020
- This information may be helpful for companies that are still operating worksites with staff, and for those companies that will be returning to worksites after the immediate crisis has abated.
United Parcel Service (UPS) response to coronavirus Posted March 20, 2020
Federal Express (FEDEX) response to coronavirus Posted March 20, 2020
The Employer Defense Report | How employers can respond to the 2019 novel coronavirus outbreak Posted March 18, 2020
- With the presence of COVID-19 in the United States, employers must be vigilant in complying with the various labor and employment laws implicated by the virus. These laws include the Americans with Disabilities Act, Family and Medical Leave Act, among other occupational and safety health laws. Employers are advised to communicate with employees and have protocols in place to address the virus.