COVID-19 Resources

State and Federal Resources and Guidance on the Coronavirus

The Massachusetts Division of Banks recognizes the potential for the Coronavirus Disease (referred to as COVID-19) to adversely affect the customers and operations of financial institutions.  The Division has compiled the following guidance from state and federal regulators for use by financial institutions and consumers during this time. The Division will provide appropriate regulatory assistance to affected financial institutions subject to their supervision, as warranted

Massachusetts Guidance on COVID-19

• COVID-19 Updates and Information

Consumer Resources

• Chapter 65 of the Acts of 2020, An Act Providing for a Moratorium on Evictions and Foreclosures During the COVID-19 Emergency

  • Division of Banks FAQ, updated 8/27/2020

  • Division of Banks FAQ, updated 5/1/2020

  • Division of Banks FAQ, 4/25/2020

• FBI Sees Spike in Fraudulent Unemployment Insurance Claims Filed Using Stolen Identities

• CSBS-CFPB Industry Guidance Forbearance

• Federal Agencies Launch Consumer Housing Website

• CFPB: Mortgage and Housing Assistance During the Coronavirus National Emergency

• Division of Banks Joins the CFPB in Providing Consumers Flexible Mortgage Options During the COVID-19 Crisis

• Federal Housing Finance Agency: No Lump Sum Required at the End of Forbearance

• U.S. Secret Service Press Release: Know Your U.S. Treasury Check Campaign 

• Consumer Advisory: Private Student Loan Relief Announced for Massachusetts Borrowers

• CFPB video: CARES Act Mortgage Forbearance: What You Need to Know

• VA: Help to Avoid Foreclosure

• CFPB: Guide to Coronavirus Mortgage Relief Options

• FHFA: Mortgage Help for Homeowners Impacted by the Coronavirus

• How to Find Out if Fannie Mae or Freddie Mac Owns Your Mortgage

• CFPB: Protecting Your Finances during the Coronavirus Pandemic

• FDIC Consumer News: Scammers Pretending to be the FDIC

• FDIC Frequently Asked Questions

Division of Banks Industry Guidance

• Reverse Mortgage Counseling in Massachusetts: effective February 12, 2022

• 2021 Annual Meeting Guidance for Banks and Credit Unions

• Division of Banks Commissioner's Letter regarding FFEIC Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions

• 2020 Annual Meeting Guidance for Banks and Credit Unions

• Division of Banks Joins the CFPB in Providing Consumers Flexible Mortgage Options During the COVID-19 Crisis

• Division of Banks FAQ updated 8/27/2020: Chapter 65 of the Acts of 2020, An Act Providing for a Moratorium on Evictions and Foreclosures During the COVID-19 Emergency

• Division of Banks Guidance Relative to Insurance Premium Finance Companies

• Division of Banks Guidance Relative to Compliance with Reverse Mortgage Counseling Requirements under Chapter 65 of the Acts of 2020: Terminated as of December 15, 2021

• Division of Banks Cyber Threat Notice

• Division of Banks Guidance Regarding SBA's Paycheck Protection Program and Legal Lending Limits for Massachusetts Chartered Banks and Credit Unions

• The Division of Banks joins Federal agencies in promoting CRA consideration for activities in response to the COVID-19

• Division of Bank's Industry Guidance Regarding Support for Mortgage Loan Borrowers Impacted by the Novel Coronavirus (COVID-19)
• Statement on Coronavirus and Regulatory Assistance for Financial Institutions
• FFIEC Highlights Pandemic Preparedness Guidance

• Federal, State Regulators Encourage Consumer Support During Coronavirus Crisis

Division of Banks Guidance Specific to Licensees and Registrants

• 3/30/2020 UPDATE: Reporting Deadline Changes for Massachusetts Licensees and Registrants

• Massachusetts Notification Protocol for Licensees

• Massachusetts Mortgage Lender Licensees Funding Guidance

• Business Continuity Preparedness for Massachusetts Licensees

Commonwealth of Massachusetts Orders and Guidance

• New State Law Allows for Remote Notarization in Massachusetts: Chapter 71 of the Acts of 2020

• MA Attorney General Debt Collection Emergency Regulation

• Order Permitting the Temporary Conditional Deferral of Certain Inspections of Residential Real Estate

Federal Regulator Guidance

• FFEIC Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions

• FAQs for Community Reinvestment Act (CRA) Consideration for Activities in Response to the Coronavirus

• CFPB's  Equal Credit Opportunity Act and Regulation B FAQs related to the COVID-19 Emergency

• Federal Financial Institutions Examination Council (FFIEC): Pandemic Preparedness Guidance 

• Facilitating Real Estate-Related Transactions Affected by COVID-19

• Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus

• FDIC, Federal Reserve and OCC Announce Changes to the Community Bank Leverage Ratio

• Joint Statement on the Interaction of the CECL Revised Transition Interim Final Rule with Section 4014 of the Coronavirus Aid, Relief, and Economic Security Act

• Federal Reserve Announces Extensive New Measures to Support the Economy

• Federal Reserve Board Announcement of 6 Month Delay for Reserved Control Framework

• The FDIC Announces a 30-Day Grace Period for the Call Report for the First Quarter of 2020

• FDIC Statement Encouraging Responsible Small-Dollar Lending to Consumers and Small Businesses in Response to COVID-19

• Federal Reserve, FDIC, and OCC Joint Statement on CRA Consideration for Activities in Response to the COVID-19 

• CSBS Press Release: Regulators Address Troubled Debt Restructurings and Reporting Amid COVID-19

• FDIC Response to the Coronavirus Pandemic

• Bureau of Consumer Financial Protection Statement on Supervisory Practices Regarding Financial Institutions and Consumers Affected by a Major Disaster or Emergency

• March 16, 2020 Federal Reserve Press Release Regarding the Discount Window

Federal Housing and Mortgage Related Guidance

• Mortgage Relief Deadlines Extended – Updated March 2, 2021

• US Department of Housing and Urban Development: Loss Mitigation Options for Single Family Borrowers Affected by the COVID-19 National Emergency  

• CFPB: Statement on Supervisory and Enforcement Practices Regarding Quarterly Reporting Under the Home Mortgage Disclosure Act 

• VA: Help to Avoid Foreclosure

• CFPB: Guide to Coronavirus Mortgage Relief Options

• FHFA: Mortgage Help for Homeowners Impacted by the Coronavirus

• How to Find Out if Fannie Mae or Freddie Mac Owns Your Mortgage

• Fannie Mae and Freddie Mac Verification of Employment Guidance 

• Fannie Mae and Freddie Mac Appraisal Guidance

Guidance for Small Businesses

• Small Business Administration COVID-19 Relief Options

• Small Business Administration Disaster Loan Assistance

• Mass.gov: Small Business Assistance for COVID-19

Other COVID-19 Resources

• Conference of State Bank Supervisors COVID-19 Updates

• National Association of State Credit Union Supervisors COVID-19 Resources & State Guidance