FRB-NY: CARES Forbearance Mostly Benefits Higher-Income, White Households
Following a post yesterday concluding that low-income, minority neighborhoods are disproportionately affected by the pandemic, the Federal Reserve Bank of New York today posted an assessment of who benefits most from CARES Act debt relief.

FinCEN Rebuffs New Banking-Agency BSA Enforcement Guidance
As anticipated, FinCEN today updated its BSA-enforcement guidance following its absence from last week’s guidance from the banking agencies and NCUA.

CFPB Opens New QM Window for Portfolio Lending
Seeking to increase the ability of lenders to originate loans without reliance on the GSEs or FHA, the CFPB today proposed a new category of “seasoned” QMs.