FDIC: Fulton Bank, NA of Lancaster, PA Assumes Substantially All Deposits of Republic First Bank, Philadelphia
Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into an agreement with Fulton Bank, National Association of Lancaster, Pennsylvania to assume substantially all of the deposits and…
FDIC: Five New Members Named to Advisory Committee on Community Banking
May 2nd meeting to address a wide range of community banking issues The Federal Deposit Insurance Corporation (FDIC) today announced five new members of the agency’s Advisory Committee on Community Banking: Composed of a cross-section of community bankers from around the country, the FDIC’s Advisory Committee shares input on a broad range of community bank…
CDFI Fund: FY 2024 Bank Enterprise Award Program Funding Round Opens
Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2024 funding round for the Bank Enterprise Award Program (BEA Program). Application materials are now available on the BEA Program page of the CDFI Fund’s websitein anticipation of the publication of the FY 2024 Notice of Funds…
FEMA: More Than $103 Million Announced to Assist Emergency Operations Centers Nationwide
FEMA today released the Notice of Funding Opportunity (NOFO) for the Fiscal Year 2024 Emergency Operations Center (EOC) Grant Program. The program provides more than $103 million to eligible state, local and tribal governments for equipping, upgrading or constructing emergency operations center projects determined by Congress. “Emergency operations centers are the heart of disaster preparedness and response, and…
ABA: Bank Volunteers Celebrate National Financial Literacy Month with New Teach Children to Save Lessons
April 25th marks ABA Foundation’s 27th annual Teach Children to Save Day On April 25th, bank employees will deliver financial literacy lessons to K-8 students across the nation as part of the ABA Foundation’s 2024 Teach Children to Save Day. The annual Teach Children to Save campaign is a centerpiece of the banking industry’s longstanding commitment…
HUD: Series of New Actions Kick Off to Help Communities Fight Extreme Heat
HUD has created a hub of information on extreme heat actions, resources, and guidance, published new technical assistance, and is hosting a stakeholder briefing on extreme heat. Today, as part of the Biden-Harris Administration’s historic Earth Week initiatives, the U.S. Department of Housing and Urban Development (HUD) announced new actions helping support communities to increase resilience…
FDIC: Four Banker Named to Minority Depository Institutions Subcommittee
May 1st meeting to address key challenges and opportunities for minority banks The Federal Deposit Insurance Corporation (FDIC) today announced four new members of the agency’s Minority Depository Institutions (MDI) Subcommittee to the Advisory Committee on Community Banking: On May 1, 2024, the MDI Subcommittee will meet to share insights into key challenges and opportunities…
CFPB: Guidance Issued to Combat Junk Fees by Mortgage Servicers
Homeowners forced to pay for “services” that were prohibited or unauthorized The Consumer Financial Protection Bureau (CFPB) today published an edition of Supervisory Highlights describing the agency’s actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. CFPB examinations found servicers charging illegal junk fees, such as prohibited property inspection fees; sending…
CDFI Fund: CDFI Equitable Recovery Program Compliance FAQs Released
The Community Development Financial Institutions Fund (CDFI Fund) has published a Compliance Frequently Asked Questions (FAQs) document for the CDFI Equitable Recovery Program (CDFI ERP). This document helps to answer commonly asked compliance questions regarding the CDFI ERP Assistance Agreement. The CDFI ERP Compliance FAQ also incorporates the previously released CDFI ERP Demographic Data Guidance. …
SBA: 2023 THRIVE Program Winners Recognized
Cohorts from Puerto Rico and Seattle Will Be Honored at the National Small Business Week Ceremony in Washington, D.C. Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 33 million small businesses, recognized the 2023 T.H.R.I.V.E. Emerging Leaders Reimagined cohort winners in Seattle and North Metro Puerto Rico…