Federal Reserve: Board Withdraws 2023 Policy Statement and Issues New Policy Statement Regarding the Treatment of Certain Board-Supervised Banks that Facilitates Responsible Innovation
he Federal Reserve Board on Wednesday withdrew a 2023 policy statement and issued a new policy statement regarding the treatment of certain Board-supervised banks that facilitates responsible innovation. “New technologies offer efficiencies to banks and improved products and services to bank customers,” said Vice Chair for Supervision Michelle W. Bowman. “By creating a pathway for…
ICBA: ICBA Opposes PayPal Application to Form Industrial Loan Company
The Independent Community Bankers of America (ICBA) today expressed strong opposition to PayPal’s application opens in a new tab to form an industrial loan company—a type of financial institution that receives federal deposit insurance while avoiding full regulatory oversight. “The FDIC should deny ILC applications from PayPal and other Big Tech companies and not allow these nonbank firms to benefit from the federal safety net while avoiding prudential regulation…
SBA: Deregulation Strike Force Launched to Conduct Government-Wide Review of Regulations Impacting Small Businesses
Today, the U.S. Small Business Administration (SBA) launched a new Deregulation Strike Force, dedicating a full team to the mission of identifying and eliminating excessive Biden-era regulations that have disproportionately increased costs for America’s small businesses and consumers. The strike force, led by the SBA’s Office of Advocacy, is working across all federal agencies to cut regulations that have…
ABA: Statement Issued on OCC’s Announcement Regarding National Trust Charters
“Today’s decision by the OCC to approve conditionally a group of novel national trust charters raises important questions about the scope and oversight of these institutions. While innovation in financial services can benefit consumers, it is critical that any chartered entity operates under a regulatory framework that appropriately addresses its activities and risks. We are…
ICBA: ICBA Opposes OCC’s Approval of Five National Trust Charter Applications
The Independent Community Bankers of America (ICBA) today expressed opposition to the Office of the Comptroller of the Currency’s conditional approval opens in a new tab of five national trust bank charter applications from nonbank fintechs. ICBA has repeatedly said in letters to the OCC that the agency lacks statutory authority to expand trust powers under Interpretive…
OCC: Conditional Approvals Announced for Five National Bank Charter Applications
The Office of the Comptroller of the Currency (OCC) today announced its conditional approval of five national trust bank charter applications. Subject to meeting the OCC’s conditions, these institutions will join approximately 60 other national trust banks currently supervised by the OCC. In granting these conditional approvals, the OCC applied the same rigorous review and…
CDFI Fund: Advisory Board Will Meet Virtually on December 29th
The Community Development Financial Institutions Fund (CDFI Fund) is convening a public meeting of the Community Development Advisory Board (the Advisory Board) from 11:00 to 11:30 a.m. Eastern Time on Monday, December 29, 2025. This meeting will be conducted virtually. The function of the Advisory Board is to advise the Director of the CDFI Fund on the…
HUD: FHA Announces 2026 Loan Limits
New loan limits for Single Family Title II forward and Home Equity Conversion Mortgages Increase for calendar year 2026 Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) announced loan limits for calendar year 2026 for its Single Family Title II forward and Home Equity Conversion Mortgage (HECM) mortgage insurance programs. Loan limits for most of the country will…
Federal Reserve: FRB Announces Reappointment of Reserve Bank Presidents and First Vice Presidents
Following a comprehensive review by the boards of directors of the regional Reserve Banks, and the unanimous concurrence of Federal Reserve Board members, the Federal Reserve on Thursday announced the reappointment of Federal Reserve Bank presidents and first vice presidents. By law, all Reserve Bank presidents and first vice presidents serve five-year terms, with each…
HUD: Fair Housing Investigation Launched into Boston’s Race-Based Housing Plan
Today, the Department of Housing and Urban Development’s (HUD) Office for Fair Housing and Equal Opportunity (FHEO) notified the City of Boston that it has initiated an investigation into the City’s so-called “Diversity, Equity, and Inclusion” (DEI) housing practices, which HUD believes violate civil rights protections under the Fair Housing Act and Title VI. “We…