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(The Center Square) – The Federal Reserve and the mortgage banking industry are hashing out details about how to allocate $454 million to help cover the fallout of the loan forbearance clause of the CARES Act. The amount is a drop in the bucket compared to the fallout of millions of people unable to pay their mortgages due to losing their income as a result of the economic shutdown caused by the coronavirus quarantine.

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State tax collections took a 9.1 percent plunge last month, but the decline was not due to the COVID-19 pandemic but rather a more aggressive approach to quickly getting tax refunds back to individuals and corporations, according to the Legislative Services Agency.