ABA: National Survey Shows Americans Trust Banks Most to Keep Their Information Safe
U.S. adults trust banks more than any other entity – including healthcare providers, non-bank payment providers and the government – to keep their information secure and private, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. In addition, all age groups surveyed (Gen Z, Millennials, Gen X and…
FEMA: President Trump Approves Emergency Declaration for Louisiana
FEMA announced federal disaster assistance has been made available to the state of Louisiana to supplement the state’s response efforts in the areas affected by Hurricane Zeta beginning Oct. 26, and continuing. Federal funding is available to the state, eligible tribal and local governments, on a cost-sharing basis for emergency protective measures. Public Assistance Category…
SBA: Historic Small Business Lending for Fiscal Year 2020 Achieved
The U.S. Small Business Administration announced Fiscal Year 2020 summary loan data of the financial assistance provided through traditional loan program lending as well as aid provided via the CARES Act. Loans guaranteed through traditional SBA lending programs exceeded $28 billion; however, enactment of the CARES Act dramatically increased loan volume guaranteed by the Agency: In FY20,…
EDA: $3.2 Million Invested to Support Business Development and Economic Diversification Efforts in Cortlandt, NY
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3.2 million grant to the Town of Cortlandt, New York, to prepare a municipally-owned, 99-acre parcel of land for private development. The EDA grant, to be matched with $43.2 million in local funds, is expected to generate…
OCC: SoFi’s Application to Establish a National Bank Conditionally Approved
The Office of the Comptroller of the Currency yesterday granted conditional approval for Social Finance, Inc., to establish a full-service national bank titled SoFi Bank, National Association. The OCC granted preliminary conditional approval based on a thorough evaluation of information available to the agency, including the representations and commitments made in the application and by…
HUD: Historic North Carolina Hospital Earns 2020 HUD Secretary’s Award
The U.S. Department of Housing and Urban Development (HUD) and the Advisory Council on Historic Preservation (ACHP) announced last week the Historic Ashe Hospital in Jefferson, North Carolina, was the recipient of the 2020 ACHP/HUD Secretary’s Award for Excellence in Historic Preservation. This annual award recognizes developers, organizations, and agencies for successfully advancing historic preservation, while…
FHFA: House Price Index Up 1.5 Percent in August; Up 8.0 Percent from Last Year
House prices rose nationwide in August, up 1.5 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 8.0 percent from August 2019 to August 2020. FHFA also revised its previously reported 1.0 percent price change for July 2020 to 1.1 percent. For the nine census divisions, seasonally…
FHFA: Strategic Plan for FY 2021-2024 Finalized
The Federal Housing Finance Agency (FHFA) today issued the FHFA Strategic Plan: Fiscal Years 2021-2024. The Strategic Plan establishes new goals needed for FHFA to fulfill its statutory duties, which include responsibly ending the conservatorships of Fannie Mae and Freddie Mac (the Enterprises). FHFA carefully reviewed all comments submitted on the Plan. The Agency fulfilled…
EDA: $2.2 Million Invested to Support the Growth of Meat Processors Near Cody, WY Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.2 million grant to Forward Cody Wyoming, Inc., Cody, Wyoming, to expand a facility in the North Cody Industrial Park that serves meat processors. The EDA grant, to be located near a Tax Cuts and Jobs Act Opportunity Zone,…
OCC: Final True Lender Rule Issued
The Office of the Comptroller of the Currency (OCC) today issued a rule that determines when a national bank or federal savings association (bank) makes a loan and is the “true lender,” including in the context of a partnership between a bank and a third party. Banks’ lending relationships with third parties can facilitate access…