SBA: Small Business Lending Reflects Strong Economic Trends
SBA FY19 total loan volume reaches over $28 billion with more than 63,000 approved loans The U.S. Small Business Administration announced FY19 lending numbers showing that it guaranteed over $28 billion to entrepreneurs that otherwise would not have access to capital to start, grow, or expand their small businesses. “A strong economy is powering America’s 30…
CFPB: Agency Issues Final HMDA Rule to Provide Relief to Smaller Institutions
The Consumer Financial Protection Bureau (Bureau) today issued a rule which finalizes certain aspects of its May 2019 Notice of Proposed Rulemaking under the Home Mortgage Disclosure Act (HMDA). It extends for two years the current temporary threshold for collecting and reporting data about open-end lines of credit under HMDA. The rule also clarifies partial…
ABA Foundation: Kathy Luria of Webster Bank Honored with 5th Annual George Bailey Distinguished Service Award
Connecticut Banker wins ABA Foundation’s highest individual honor. Kathy Luria, senior vice president for community affairs and philanthropy at Webster Bank in Waterbury, Conn., has been named the ABA Foundation’s 2019 George Bailey Distinguished Service Award winner for her tireless and innovative efforts to expand and enhance Webster Bank’s community and philanthropic engagement. Luria will…
HUD: $112 Million Offered to Expand Affordable Housing Opportunities for Low-Income Persons with Disabilities
Available funding includes $75 million in capital to produce new housing The U.S. Department of Housing and Urban Development (HUD) announced today that there is a combined $112 million available to expand the supply of permanent affordable housing for very low-income persons with disabilities. Funding is available for the two components of the Section 811…
ABA Foundation: Eight Banks Honored With 7th Annual Community Commitment Awards
Banks of all sizes earn prestigious industry awards for programs addressing range of community issues Eight banks earned American Bankers Association Foundation’s highest honor today by being named Community Commitment Award winners for 2019. The annual awards recognize banks for their corporate social responsibility efforts in categories ranging from affordable housing to economic inclusion. This year’s CCA…
FEMA: President Trump Approves Major Disaster Declaration for South Dakota
FEMA announced that federal disaster assistance has been made available to the state of South Dakota to supplement state, tribal and local recovery efforts in the areas affected by severe storms, tornadoes and flooding beginning on June 30 to July 21, 2019. The President’s action makes federal funding available to the state, tribal, eligible local…
FDIC: New Members of Advisory Committee on Community Banking Announced
The Federal Deposit Insurance Corporation (FDIC) today announced the selection of four new members to its Advisory Committee on Community Banking, which has been providing advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section…
CDFI Fund: Treasury Guarantees $100 Million in CDFI Bond Funding
Over $1.6 Billion Guaranteed for Projects in Distressed Communities since Establishment of Program U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the approval of a $100 million guarantee under the Community Development Financial Institutions (CDFI) Bond Guarantee Program. The guarantee will be issued on behalf of three Eligible CDFIs…
ABA: Credit Card Delinquencies Fall as Other Consumer Delinquencies Rise Slightly
Consumer credit delinquencies were mixed in the second quarter, with delinquencies falling for bank cards (credit cards provided by banks) and rising for the composite index of closed-end loans, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in eight of the 11 categories tracked by ABA while three…
SBA: 2020 National Small Business Week Award Nomination Period Now Open
The U.S. Small Business Administration is now accepting nominations for its 2020 National Small Business Week Awards. Every year since 1963, the President of the United States has issued a proclamation announcing National Small Business Week (NSBW), which recognizes the critical contributions of America’s entrepreneurs and small business owners. As part of the NSBW, the…