United States regulators pledged on Monday in a joint statement to work with banks in order to “provide appropriate regulatory assistance” to institutions under their supervision in meeting financial needs amid the coronavirus outbreak.
It is also noted that "financial institutions should work constructively with borrowers and other customers in affected communities," and that "prudent efforts that are consistent with safe and sound lending practices should not be subject to examiner criticism."
FDIC, Consumer Financial Protection Bureau, the Conference of Bank State Supervisors, the Federal Reserve, National Credit Union Administration and Officer of the Comptroller of the Currency all signed this statement.
