On September 9, the Department of Housing and Urban Development (HUD) announced additional requirements and flexibilities for $3.96 billion in emergency solutions grants provided to states and units of local government under the CARES Act. These flexibilities allow for additional eligible activities for which the recipients can use the funds and also extends the obligation deadline for the recipients. Release.
On August 31, the Consumer Financial Protection Bureau (CFPB) issued a report examining the early impact of the COVID-19 pandemic on consumer credit. The report noted no significant negative impact on consumer credit or delinquencies, focusing on mortgage, auto loans, credit cards and student loans, from March 2020 to June 2020, suggesting programs such as the CARES Act may have positively impacted consumer credit during this time. Report.
On March 30, the U.S. Department of the Treasury published guidance related to the CARES Act. The guidelines and application procedures published focus on payroll support for air carriers and requirements for loans to air carriers and other eligible businesses under the CARES Act. Release.
