On April 1, 2021, the Consumer Financial Protection Bureau (CFPB) issued a Compliance Bulletin titled “Supervision and Enforcement Priorities Regarding Housing Insecurity”. The bulletin provided guidance on efforts that mortgage servicers should make for contacting borrowers at risk of foreclosure and needing assistance due to the economic effects from the COVID-19 pandemic.read more
While the airline industry has benefited from a special federal stimulus loan package tied to the impact of COVID-19, the energy industry has not been as fortunate to date. Many energy companies were distressed before the pandemic hit the US in early 2020.read more
The COVID-19 pandemic has affected the U.S. economy so deeply that it will take a long time for businesses to recover, if they can recover at all. Many commercial industries have been turned upside down in the course of just a few months. The restaurant industry has been the hardest hit industry along with the travel and hospitality sectors rising in the ranks of impact severity.read more
While almost every industry has been affected, some industries have been impacted more severely than others. Industries exhibiting the most distress over these past few months include retail, restaurants, energy, industrial, and hospitality.