Five airlines have struck agreements with the Treasury Department for portions of $25 billion in federal loans aimed at softening the blow of the coronavirus pandemic on their businesses. American Airlines, Hawaiian Airlines, Sky West Airlines, Spirit Airlines and privately-held Frontier Airlines have signed letters of intent for the loan terms, the Treasury Department said Thursday.
Freddie Mac is expanding the mortgage relief options it offers multifamily property owners, but there are strings attached. The agency, which is under government conservatorship, today announced that landlords with federally-backed mortgages can further extend the repayment period. Putting off those payments does come with a price.
Nearly $135 billion provided by Congress to help small businesses struggling to survive the COVID-19 pandemic was left on the table Tuesday as the Paycheck Protection Program stopped accepting new applications.
The Consumer Financial Protection Bureau (CFPB or Bureau) has been a federal agency like no other. Born out of the last financial crisis, the Dodd-Frank Act envisioned the CFPB to be an independent agency, free of “political influence.” Congress thus authorized the CFPB to be led by a single director – rather than a board of multiple members – who would possess significant rulemaking and enforcement over 19 consumer protection statutes as well as unfair, deceptive, and abusive acts and practices. Its single director structure – only removable for “inefficiency, neglect of duty or malfeasance” – as well as its funding outside the appropriation process – provoked strong opinions from industry and advocates alike.
The city of Chicago’s ticketing enforcement and debt collection practices will begin returning to normal Wednesday with the start of the new month, officials say. Ticketing of certain vehicle violations was temporarily suspended in March but will resume for street sweeping beginning Wednesday.
Attorney General Becerra Reminds Consumers of Data Privacy Rights Under the California Consumer Privacy Act
The Senate has passed an extension of the popular Paycheck Protection Program for small businesses, which was set to close down Tuesday night with $130 billion in funding left over. The extension to Aug. 8 was offered by Sen. Ben Cardin, D-Md., and cleared the chamber by unanimous consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.